GLOBAL PAYROLL MAGAZINE
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simplify the process of submitting financial, tax, and other business- related data to government agencies and stakeholders. Originally developed in countries like the Netherlands and Australia, SBR aims to reduce the compliance burden on businesses such as reporting. Reporting is a not inconsiderable part of payroll. Both internal and external, for analysis and control, and not least as a certifier of employee incomes.
At the same time, reporting requirements are time-consuming. The stakeholder map comprehensively captures the complexity and vast data flows within the payroll process. Additionally, we handle sensitive information valuable to criminals. This makes reporting multifaceted. With an increase in automated payroll and tax reporting, companies could be allowed to submit payroll reports directly to tax authorities without needing manual data compilation. By linking payroll to SBR, companies can reduce
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