Managing the Global Mobility Function 2012: Now Available
Tag Archive
Romania: New Rules on Taxing Resident Assignees Overseas
Government Ordinance no. 8/20131 (G.O. no. 8/2013 ) recently modified the Romanian Fiscal Code, significantly impacting Romanian companies with employees assigned abroad. The changes under G.O. no. 8/2013 effectively provide a cash-flow advantage for Romanian companies, making it potentially easier to implement tax equalization policies. Background Before G.O. no. 8/2013 came into force, resident... »
Colombia: Reform Law Alters Residency and Tax Regime for Individuals
With Act 1607 of 2012, promulgated on December 26, 2012, the Colombian Congress, among other changes, has reformed the country’s tax rules applicable to individuals.1 Below we highlight some of the important changes impacting individuals. Residency Determination One of the main changes is the determination of residency for tax purposes and its implications for... »
United Kingdom: Recommendations Made on Unapproved Share Plans
The Office of Tax Simplification (OTS) in the U.K. issued its final report on its review of unapproved share plans on 16 January 20132. The final report included a number of recommendations relating to internationally mobile employees as well as other proposed changes to U.K. tax law and administration concerning unapproved share plans. Recommendations... »
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... »
Cayman Islands: New Payroll Tax Proposed Would Hit Expatriate Employees
Cayman Islands Premier McKeeva Bush announced on 25 July that the government was considering plans to introduce a “community enhancement fee,” a payroll tax on expatriate employees.1 The plan calls for implementing the payroll tax before the end of August. (All dollar figures expressed are Cayman Islands dollars.) The new payroll tax would hit... »
India – Social Security Agreement Signed with Finland
Recently, India signed a social security agreement (‘SSA’) with the Republic of Finland. SSAs like this one with Finland generally help foster cross-border business activity engaged in by multinational employers and their globally mobile employees by preventing double social security contributions and the loss of social security benefits. Key Benefits of Agreement The SSA... »
Australia: Legislation Tabled on Reform of Living-Away-from-Home Regime
On 28 June 2012, Australia’s federal government introduced the Tax Laws Amendment (2012 Measures No.4) Bill 2012 to the Parliament and released the accompanying explanatory memorandum (EM) outlining the legislative changes to the living-away-from-home (LAFH) regime. One key difference is that the legislation states the changes will now apply from 1 October and not... »
United Kingdom: Auto-enrolment Developments and Issues for Employers with Mobile Workers
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 is “ordinarily working” in the United Kingdom. In addition, the... »
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... »
Russia and Social Security System Reforms
In December 2011, a new federal law1 introducing changes to the Russian social security system passed the final stage of approval. The new regulations, which came into force on 1 January 2012, expand the scope of individuals considered “insured individuals” and will impact the application and collection of insurance contributions to the state pension,... »