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Germany’s Electronic Income Tax System Delayed

12-28-2011 03:49 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Nair & Co.

(Sunnyvale,CA) –The German finance ministry has delayed the launch of its new electronic income tax tracking system owing to technical problems.

The delay of the electronic version of the ‘Lohnsteuerkarte’ document used by employers to process employee wages and taxes will have no effect on taxpayers, the German Finance Ministry said in a recent release.

The new income tax tracking system - ELStAM, which was supposed to be in use from January 1, 2012, has already been postponed several times.

ELStAM was developed to streamline the existing tax processing system and reduce paperwork both for both businesses and the tax administration.

The Federal Taxpayers Association (Bund der Steuerzahler Deutschland) has urged the government to clarify the income tax payment procedure for employers from January 1, 2012.

Please call or email for more details.

About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, internal audit compliance, HR and legal department for your international operations. If you are expanding abroad for the first time, our turnkey solution will help you do so with minimal risk, stress and cost. We currently support more than 1000+ client operations in over 50 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com

Nair & Co.
1250 Oakmead Parkway, Suite 210
Sunnyvale, CA 94085, U.S.
Tel : +1 408.515.6887
Fax : +1 408.716.2926
nandita.verma@nair-co.com

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