Managing the Global Mobility Function 2012: Now Available
Tag Archive
Belgium: Social Security Regime Regarding Certain Bonus Plans Modified
Belgium’s social security regime with respect to “collective non-recurrent results-linked bonuses” has been modified as from January 1, 2013. The bonus system, however, remains attractive from the tax and social security perspectives, allowing employers to grant bonuses at limited cost. Collective Bonus Exempt from Tax and Ordinary Social Security Contributions Since January 2008, a... »
Spain: New Rules Affecting Personal Taxation Promulgated End of 2012
Law 16/2012 of 27 December1 Timing Imputation Rule A new rule is in effect as of 1 January 2013, in cases where there is a loss of residence due to a move to a European Union (EU) country intended to comply with the European Court of Justice’s sentence of 12 July 2012, Case 269/092.... »
Australia: 457 Visa Changes; Migration Amendment Bill Awaits Royal Assent
Changes to Subclass 457 Visa Program On 23 February 2013, Australia’s new Minister for Immigration, Brendan O’Connor MP, announced a raft of changes around the Temporary (work) Skilled subclass 457 visa (‘subclass 457 visa’).1 These changes are seen as building further on the major reforms that were undertaken on the program in 2009. The... »
Ireland – 2012 Share Scheme Reporting Deadline Reminder
In Ireland, 31 March 2013 is the mandatory due date for the filing of Returns Of Information for employee share participation schemes in respect of 2012. Failure to comply with this mandatory filing obligation will result in a penalty and, in the cases of Revenue-approved schemes (such as Approved Profit Sharing Schemes, Employee Share... »
Slovakia: Multi-level Tax Rates Implemented and Filing Extensions Limited
On 19 December 2012, the amendment to the Slovak Income Tax Act was published in the Collection of Laws1, introducing several changes to the country’s tax rules.2 Most of the measures are effective as of 1 January 2013, and are aimed at raising tax revenue. The most significant change in the personal taxation area... »
France: New Fiscal Acts in Force with Measures Affecting Individuals
The past few months have seen various proposals for new tax legislation aimed largely at replenishing state coffers. The passage through parliament of France’s Finance Act for 20131 (“the Act”) was challenging. (For prior coverage, see the following issues of Flash International Executive Alert: 2012-180 (October 5, 2012) and 2012-208 (November 21, 2012).) The... »
South Africa: New Fiscal Legislation Bring Important Changes to Tax System
Four significant new pieces of tax legislation were recently released in South Africa. This Flash International Executive Alert considers the Tax Administration Act, effective 1 October 2012, the newly gazetted rates and monetary thresholds for 2012, and the final drafts of the Taxation Laws Amendment Bill 2012 and Tax Administration Laws Amendment Bill 2012.1... »
Belgium: Tax Authorities Issue FAQ on Company Car Benefit
Belgium’s tax authorities recently released a new “frequently asked questions” (FAQ) about the calculation of the benefit-in-kind of a company car.1 New rules governing the calculation of the benefit-in-kind resulting from the personal use of a company vehicle made available free-of-charge by the employer / company entered into force on 1 January 2012. (For... »
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... »
The Netherlands: Tax Developments Affecting Employers and Employees
Highlight here are two recent tax developments that will impact employees and employers. Employer’s Levy on Top Salaries Recently, the Bill on the Implementation of Tax Measures Budget Agreement 20131 passed the Netherlands’ legislature introducing a one-off employer’s levy on top salaries. In 2013, employers will have to pay a one-off 16-percent levy on... »