On 8 May 2012, as part of the 2012/2013 Federal Budget1 announcements, the government provided further details about the reform of Australia’s living-away-from-home (LAFH) regime. The changes will significantly limit the availability of LAFH benefit tax concessions for foreign nationals who are working on temporary assignments in Australia. The changes to the LAFH regime... »
A few weeks ago, the French Ministry of Finance issued decrees which will facilitate the collection of data (and tax) on the French sourced gains derived from equity awards when the beneficiary has left France. Tighter control will be achieved by tracking the “French... »
There have been recent changes in immigration admission procedures that may impact international executives who travel on business to South Africa. Background Section 11(2) of the Immigration Act (No 13 of 2002) contains a provision for business travellers from visa-exempt countries to be able... »
India’s Ministry of Home Affairs (‘MHA’) has issued detailed guidelines on various aspects of the “Tourist Visa on Arrival” (‘TVOA’) scheme,1 which we highlight below. Background The TVOA scheme was introduced by India’s government in 2010. (For prior coverage, see the following issues of... »
On April 2, 2012, the European Commission announced its intention to review direct tax measures imposed by member states on cross-border workers. The Commission will carry out a thorough review of national direct taxes to determine whether they create unfair disadvantages for individuals who... »
Making changes in the U.K. immigration rules is becoming an annual spring event. Having taken into account the findings from the Migration Advisory Committee (MAC), this year the U.K. government has introduced various changes. We outline those changes below. Tier 2 Changes These changes... »
In this article we remind taxpayers – employers and employees – of some compliance obligations in year 2012. Filing of Returns by Individuals Under the “Self Assessment System” for individuals in Malaysia, individuals are required to file the 2011 tax returns to the Inland... »
George Osborne, the U.K.’s Chancellor of the Exchequer, presented the 2012 Budget speech on 22 March 2012. The Finance Bill 2012 is due to be published on 29 March 2012, and an update will follow at that time. Below, we highlight some of the important... »
The State Administration of Foreign Exchange (“SAFE”) of the People’s Republic of China (“PRC”) issued Hui Fa No. 7 (“Circular 7”) on 20 February 2012, to replace Hui Zong Fa No. 78 (“Circular 78”) and Hui Zong Fa No. 2 (“Circular... »
The Social Security Agreement (“SSA”) between Switzerland and Japan came into force on 1 March 2012.1 The SSA covers seconded employees, self-employed persons, public employees, employees on board a sea-going vessel, and members of diplomatic missions. Seconded employees covered under the SSA are exempt... »
There have been some recent developments in the United Kingdom concerning the plans for “auto-enrolment” of employees into pension schemes. The U.K.’s The Pensions Regulator has released updated detailed guidance on auto-enrolment which includes new content relating to the assessment of whether a person... »
Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Tharman Shanmugaratnam, delivered the Budget Statement for 2012 in Parliament on Friday, 17 February 2012. We highlight the main measures affecting individuals below. (All dollar figures noted are Singapore dollars.) Enhancement of Earned Income Relief... »
There have been some recent tax changes of note in Aruba, and the former Netherlands Antilles islands of Curacao, St. Maarten, Bonaire, St. Eustatius, and Saba, which we describe briefly in this Flash International Executive Alert. The Netherlands Antilles effectively ceased to exist on... »
On 8 February 2012, the French government meeting in the Council of Ministers adopted a proposal for the Corrective Finance Law for 2012 (Projet de Loi de Finances rectificative pour 2012, or “PLFR”). The PLFR is to be submitted to the Parliament for debate... »
On February 22, 2012, U.S. President Barack Obama signed into law the Middle Class Tax Relief and Job Creation Act of 2012 (H.R. 3630),1 which extends through the end of 2012 the 2-percent cut in employee payroll and self-employment taxes that was otherwise due... »
The Irish government recently published Finance Bill 2012.1 It contains the draft legislation aimed at implementing the measures announced by the Minister of Finance in his 2012 Budget speech delivered on 6 December 2011.2 It contains draft legislation on a number of new measures.... »
South Africa’s Taxation Laws Amendment Act (No 24 of 2012) has been signed into law and contains a number of provisions impacting the 2012-13 tax year, beginning on 1 March 2012. Employees’ Tax Medical Scheme Credits From 1 March 2012, the tax relief given... »
Recent developments in Luxembourg, including treaties, the new social security and income tax parameters, and other tax matters. Treaties Protocol to Double Taxation Treaty (DTT) Luxembourg-Japan Entered into Force The protocol, signed on 25 January 2010 in Luxembourg (published in Mémorial A – N°... »
Plans to introduce a leaver statement, to replace the form P45 in the U.K., have now been withdrawn following the consultation and a workshop with employers and representative groups. Her Majesty’s Revenue & Customs (HMRC) has confirmed that it will retain the form P45... »
