Managing the Global Mobility Function 2012: Now Available
Tag Archive
United States: IRS Provides Notice for 2012-2013 Per Diem Rates
The U.S. Internal Revenue Service (IRS) released on September 26, 2012, an advance copy of Notice 2012-63 as the annual notice providing the 2012-2013 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home.1 (For coverage of last year’s rates... »
United Kingdom: Treasury to Publish Responses to Consultations on Statutory Residence Test
H.M. Treasury has announced1 that a summary of the responses to the consultation on a U.K. statutory residence test will be published on the morning of 21 June 2012. It was announced that the document will be available at: www.hm-treasury.gov.uk/consult_statutory_residence_test.htm. Comments on the responses and the draft legislation are requested by close of the... »
United States: Payroll Tax Cut Extension Signed into Law by President
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 to expire at the end of February 2012. Background U.S.... »
Luxembourg: Tax Developments
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° 146 of 21 July 2011) to the Luxembourg-Japan income and... »
United Kingdom: HMRC Confirms Leaver Form to Continue under RTI
Plans to introduce a leaver statement, to replace the form P45 in the U.K., have now been withdrawn following the consultation and a workshop with employers and representative groups.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 for employees who leave employment.1 As a result, under “Real... »
Colombia: New Compliance Procedures for Top Earners
The Colombian tax administration (“DIAN”, Dirección de Impuestos y Aduanas Nacionales) has established that, for taxable year 2011, individuals liable to file income tax returns are also required to file information on magnetic media (exogenous information1) if their gross income for taxable year 2010 amounted to more than five hundred million Colombian pesos (COP... »
Croatia: Highlights of 2011 Tax Changes Affecting Individuals
The Croatian Parliament adopted Amendments to the Personal Income Tax (PIT) Law which came into force as of 15 October 2011 (published in Croatia’s national gazette (Narodne novine), 114/11, 07.10.2011) and Amendments to the PIT Regulations which came into force as of 8 December 2011 (Narodne novine 137/11, 30.11.2011).1 Loans with a Favorable Interest... »
France and Reporting Obligations for Trustees
The French tax authorities released on 28 December 2011, a ruling (dated 23 December 2011)1 clarifying some of the details of the reporting obligations for trustees introduced by article 14 of Amended Finance Law for 2011 of 31 July 2011 (Loi de finances rectificative pour 2011). For details of the wider impact on wealth... »
Ireland and 31 March Share Scheme Reporting Deadline
In Ireland, 31 March 2012 is the mandatory due date for filing of ‘Returns of Information’ for employee share participations schemes. Failure to comply with this mandatory filing obligation will result in a penalty, and in the cases of Revenue-approved share schemes (such as Approved Profit Sharing Schemes, Employee Share Ownership Trusts, and “Save... »
Ireland: Application of USC to Cross-Border Workers
Ireland’s Revenue Commissioners have recently publicly issued three e-Briefs dealing with the Universal Social Charge (“USC”). International Assignees to Ireland – Application of the USC Revenue eBrief 81/2011 provides some welcome clarity on the application of the USC for certain “cross border” workers within the European Economic Area (EEA), which includes European Union (EU)... »