In Finland the tax office creates a "tax account" for each company. You can transfer money into the account for withheld payroll taxes, social security payments, value-added tax, etc.
It works just like a bank account (except you can't withdraw money from it). They have an online service where you can check the tax account's status and activity, so it's easy to keep it in balance.
This eliminates the need to retain any money that is actually owed to the government. When you pay an employee, you can pay the withheld tax and social security fees at the same time into the tax account.
It works just like a bank account (except you can't withdraw money from it). They have an online service where you can check the tax account's status and activity, so it's easy to keep it in balance.
This eliminates the need to retain any money that is actually owed to the government. When you pay an employee, you can pay the withheld tax and social security fees at the same time into the tax account.