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Tax collection
A tax collection is the act of collecting the taxes owing.
Taxes are both direct and indirect, and are payable by both employees and employers. Employers are required to collect taxes at source, and remit them to the regulatory bodies based on where an employee resides. Taxes are also levied on goods and services provided by businesses. A tax collection is the act of collecting the taxes owing.
Related Glossaries
ACH
(Automated Clearing House) or ACH transaction, is an electronic bank to bank money transfer.
Gig Economy
A labor market characterized by short-term contracts or freelance work.
Global payroll
Refers to all the practices needed to administer payroll to individuals across the globe.
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