Legislative proposal in U.K: all salaries must pass thru IRS before reaching the employees.

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UK IRS has made a legislative proposal that all employers will have to send staff salaries due to the state first, the authorities will retain the appropriate taxes, and then sent back by bank transfer net salaries of employees, says CNBC.

The proposal developed by the Department of Taxes to HM Government will provide real time information about the real tax paid.
IRS says that if the proposal passes will be a radical change in a system that works just about 66 years.

IRS estimates that the new method will help employers to make total savings of around 650 million euros, but analysts say that to implement such a system costs will be “phenomenal.”

Short URL: http://newskf.com/?p=1503

Posted by P.Jeanelle on Sep 21 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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