What is reliquidation in SAP PY-CL - Chile?

SAP Term: reliquidation

• Component: PY-CL

• Component Name: Chile

• Description: A procedure in that applies to the unique tax of the second category income tax, whose rates progressively increase as income increases. Reliquidation is described in the an income tax law, and consists of prorating certain payments so that the employee falls under a lower income tax bracket and pays a lower tax rate. For example, to reduce the applicable tax rate, a year-end bonus received by an employee can be prorated over the 12 months of the year.

Smart SAP Assistant

• Key Concepts: 
  Reliquidation is a process used in the PY-CL Chile component of SAP software. It is used to recalculate the amount of taxes that an employee owes based on their salary and other factors. This process is necessary when there are changes in the employee's salary or other factors that affect their taxes. 
  
  How to use it: 
  In order to use reliquidation, the user must first enter the employee's salary information into the system. This includes their gross salary, deductions, and any other relevant information. Once this information is entered, the system will automatically calculate the amount of taxes that the employee owes. The user can then review the results and make any necessary adjustments. 
  
  Tips & Tricks: 
  When using reliquidation, it is important to ensure that all of the employee's information is accurate and up-to-date. This will help to ensure that the correct amount of taxes is calculated. Additionally, it is important to review the results of the reliquidation process before making any changes to ensure that they are correct. 
  
  Related Information: 
  For more information about reliquidation in SAP PY-CL Chile, please refer to SAP's official documentation. Additionally, there are many online resources available that provide detailed instructions on how to use this feature.