Germany’s Electronic Income Tax System Delayed

Dec. 28, 2011 - PRLog -- (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.

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Sunnyvale, CA —Vyoma Nair, co-founder of Nair & Co., a firm that helps companies expand internationally, has been recognized as one of Silicon Valley’s ‘2011 Women of Influence’ by the Silicon Valley/San Jose Business Journal.