The Secretary of Commerce rather attacked his conservative detractors – who nicknamed the measure of a “two -level tax” – and said that they had not understood the reality of the agreement.
When “a business in India is called someone during a short period of time in the United Kingdom, or a British company after a worker in India for a short period … You do not pay for two social security systems now,” said Reynolds.
Reynolds highlighted the existing agreements with 50 countries, including the United States and Canada – and stressed that the last conservative government had signed an agreement with similar provisions with Chile.
The double contribution convention agreed with India was part of a broader trade agreement that the United Kingdom spoke as offering an essential boost to the country’s stagnant economy. An economic forecast by the British government suggests that the agreement will increase the GDP of the United Kingdom by 4.8 billion pounds in Sterling by 2040.
The work agreement with India is reciprocal, which means that short -term British visa holders will not pay taxes on Social Security in India either. Allion Renison de la SEC Newgate, a former commercial-government advisor, said: “This is an agreement to prevent the double taxation from falling on short-term workers in skilled specific professions.”
She added: “The underlying fundamental principle is that temporary workers published in the jurisdictions of the other by their companies should not have to contribute to two parallel social security regimes at the same time.”
Politices
