GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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21:02 Aug 29, 2012 |
Dutch to English translations [PRO] Bus/Financial - Accounting | |||||||
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| Selected response from: Steven Segaert Estonia Local time: 22:36 | ||||||
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Discussion entries: 2 | |
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Income tax and social insurance contributions payable Explanation: Your translation sounds complicated ... something like "Lost in translation". Good luck |
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Payroll tax (or withholding tax or in the U.K. P.A.Y.E.) and social insurance contributions payable Explanation: Loonheffing means taxes on wages or salaries. Income tax for an individual can include other components such as investment or real estate income. Of course when a company pays income tax to the Government what it is actually paying is not called income tax but withholding tax or, as they call it in the U.K., Pay As You Earn (P.A.Y.E.). Strictly speaking, therefore, income tax is a tax paid by the individual and includes other components besides wages. Loonheffing relates only to wages. -------------------------------------------------- Note added at 25 mins (2012-08-29 21:28:10 GMT) -------------------------------------------------- and is paid by the employer. |
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9 hrs confidence:
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