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: Income Taxation for Scottish Taxpayers Increases Complexity
The Scotland Act 2012 received Royal Assent in the U.K. on 1 May 2012, and provides the Scottish government with new powers to set a Scottish rate of income tax on the non-savings income of those defined as “Scottish taxpayers,” to be administered by HM Revenue & Customs (HMRC). It is expected to apply... »
Finland’s 2012 Social Security, Personal Income Tax Rates
Tax Rates/Brackets The 2012 income tax rates and brackets have been accepted by the Parliament1. The 2012 tax scale is below. Taxable Income (€) Tax at Lower Limit (€) Tax for Amounts Exceeding Lower Limit (%) 16,100 — 23,900 8 6.5 23,900 — 39,100 515 17.5 39,100 — 70,300 3,175 21.5 Over 70,300 9,883... »
United States: Update on 2012 Standard Mileage Rates
On December 9, 2011, the U.S. Internal Revenue Service (IRS) released an advance copy of Notice 2012-1 providing the standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, medical, moving, or charitable purposes.1 Most rates, including business miles, remain the same as provided in Announcement... »
Portugal Introduces New Additional 3.5% Surcharge on 2011 Income
Portugal’s Parliament has approved a measure that will have an impact on individuals’ 2011 personal income tax liabilities. Law no. 49/2011, of September 7, 2011, has introduced an additional 3.5-percent surcharge for personal income tax1. This surcharge is of an extraordinary nature and will only be applicable to income received in 2011. The surcharge... »
Finland: 2011 Social Security, Personal Income Tax Rates
Finland’s has made changes to it's compulsory social security rates and individual income and other tax rates for 2011. Tax Rates/Brackets: The 2011 income tax rates and brackets have been accepted by the Parliament. »
Switzerland Announces New Social Security Rates
The Swiss Federal Council has announced that some of the Swiss social security rates will be increased as the government – like several other governments – tries to ensure that the funds will be able to meet future obligations. Employer and employee contributions towards the state allowances for “military service and maternity leave” (“EO”), which... »
Jamaica Has New Tax Rates
The new tax-free threshold for taxpayers in Jamaica is $441,168 per annum. Additionally, since that date, a progressive tax system has been in effect. Also, the standard rate of General Consumption Tax (GCT) was increased from 16.5 percent to 17.5 percent. »