✅Payslip Taxes Explained✅ When it comes to your payslip, you will see the following taxes as dedcutions on your payslip. ➡️Income Tax - PAYE PAYE is charged at two different rates, 20% and 40% depending on your your salary. If you earn over the standard rate cut off point - the 40% rate will apply to you.. If you earn below the standard rate cut off point you will just pay the 20% rate. The cut off point on 2023 is €40,000 For instance, any income you earn up to €40,000 will be taxed at the lowe