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... »
People’s Republic of China: Totalization Agreement with Korea Could Affect Assignment Costs
A Social Security Treaty (“the Treaty”) has been concluded between the People’s Republic of China (“China”) and the Republic of Korea (“Korea”).1 To benefit from the Treaty, Korean companies should review the social insurance participation of their assignees working in China in a timely manner and arrange to obtain and submit the required documents... »
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... »
Switzerland: New Social Security Agreement with Japan Enters into Force
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 from social security contributions in the host country for a... »
United Kingdom: Revised Guidance on Residence
The U.K. tax authority, Her Majesty’s Revenue & Customs (HMRC), has issued a revised version of its U.K. tax residence guidance “HMRC6 – Residence, Domicile and the Remittance Basis.”1 As this revision contains mainly minor changes to the version last updated in December 2010, the changes have not been described or highlighted as revisions... »
Romania and EU Employers Registering for Romanian Social Security
Up until recently, the Romanian tax authorities have refused to accept the registration for Romanian social security purposes of European Union (EU)–based employers, except for companies employing seasonal workers performing work outside Romania. The arguments used by the tax authorities were based on the fact that there was no specific provision under domestic Romanian... »
Peoples Republic China’s Implementation Rules for Foreigners’ Participation in Social Insurance
Following a period of public consultation in June 2011, the Interim Measures for the Participation in Social Insurance of Foreigners Working in China1 (Interim Measures) were approved by the State Council of the People’s Republic of China (“China”) and issued by the Ministry of Human Resources and Social Security (MOHRSS) on 6 September 2011.... »
UK Guidance on Unrest in Egypt, Elsewhere and Residence
Due to the political unrest in the Middle East and North Africa, some individuals have been evacuated to the United Kingdom. The U.K. tax authority – Her Majesty’s Revenue and Customs (HMRC) – has issued a statement regarding the impact of the recent situations on their guidance for U.K. tax residence. »
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... »