By Simbarashe HamudiAdvertisements TAX credits serve as a vital financial tool for taxpayers, enabling them to reduce their tax liabilities. By subtracting specific amounts from the total employment taxes owed, these credits can significantly ease the financial burden on individuals, particularly those facing certain hardships. This mechanism is outlined in the Finance Act, specifically under…
Tax credits available to employees
Medical expenses also fall under the purview of tax credits, allowing taxpayers to claim deductions for medical costs incurred for themselves, their spouses, or minor children.