The available functionality on the platform varies across markets due to differences in tax regulations among countries. As a company, it is your responsibility to thoroughly investigate and comply with current legislation on the markets where you are using Velory.
If an employee orders a device that exceeds their allocated budget, Velory will calculate a salary deduction for that purchase. For instance, if the budget permits phones at 300/month and the device costs 400/month, a budget overage of 100 excl. VAT will be added to the payer's expenses.
As an admin, you'll have access to view all employees' salary deductions, including VAT calculations. It's at your discretion as an employer to determine how salary deductions in Velory should be managed concerning the employees' actual salary.
How to export salary deductions
Go to Asset Management in the navigation bar, click on Employees and then Monthly payments.
- Here, you'll find a comprehensive list of employees currently experiencing budget overages, along with their salary deductions calculated, including VAT
- Expanding a row will reveal comprehensive details about the device assigned to that specific employee.
- You are able to export the list to CVS by clicking on Export to CSV.
How each company decides to handle salary deductions is up to each company. We recommend consulting with a tax professional or lawyer before enabling budget overages with salary deduction since local tax laws vary across markets. E.g. in Sweden, as outlined in the Tax Authority’s 2023 legal guidance, upgrading hardware with employee salary deductions or other forms of payment may result in the entire hardware being considered a taxable benefit.