In regards the processing of monthly salary employees under the covid wage subsidy scheme, how is this taxed?
for example, employee average weekly net is €700. the subsidy covers €350. if the company top up the remaining €350 to bring it in line with what the employee usually receives net weekly, how is this taxed?
Am I right in saying this is taxed on the employee at year end. so it's not in truth a real net pay as the employee has yet to be taxed on it.
The revenue guidance is not clear on that area.
Hope some others with a good knowledge of this can assist?