GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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02:36 Sep 17, 2010 |
French to English translations [Non-PRO] Bus/Financial - Law: Taxation & Customs | |||||||
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| Selected response from: B D Finch France Local time: 21:23 | ||||||
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Summary of answers provided | ||||
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4 +1 | taxpayers paying in monthly instalments |
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3 | monthly liabilities |
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taxpayers paying in monthly instalments Explanation: In some countries this amounts to PAYE (Pay As You Earn), except that Inland Revenue work out how much you pay on the basis of your previous year's earnings rather than your employer paying your tax for you on the basis of what you are actually paid, as you are paid. The norm in France used to be quarterly instalments but we are being encouraged to help fill the State coffers by paying monthlyly. You pay full whack from January to October, then in November and December pay the excess relative to the tax on the previous year's earnings, assuming one earns more from one year to the next. |
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Notes to answerer
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monthly liabilities Explanation: "As an example of this, say your monthly liabilities are: ... SIVA does not cover customs and excise duties for which a deferment guarantee is still required ..." customs.hmrc.gov.uk/.../channelsPortalWebApp.portal?_ "All duty-suspended movements from an excise or customs and excise warehouse ..... you must take out a guarantee to cover your total monthly liabilities for ..." customs.hmrc.gov.uk/.../channelsPortalWebApp.portal?_ |
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