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Pay-As-You-Earn |
Also found in: Dictionary/thesaurus, Wikipedia | 0.04 sec. |
Pay-As-You-EarnSystem of tax collection in the UK in which income tax is deducted on a regular basis by the employer from wages before they are paid. PAYE tax deductions are calculated so that when added up they will approximately equal the total amount of tax likely to be due in that year. In the USA this is called withholding tax. |
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