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USA: PFIC Regs Released: Reporting Required on 2013 Tax Returns

January 13, 2014

On December 30, 2013, the U.S. Internal Revenue Service (IRS) released temporary, final and proposed regulations in relation to passive foreign investment companies (PFICs). The new regulations confirm that U.S. citizens and residents who own shares in PFICs will be required to provide annual reporting on Form 8621 for all PFICs starting with their...

Posted in 1298, 8621, Form, pfic, Regulations, Requirement, section, Tax, United States |

BELGIUM: Proposed Changes Affecting Net Pay of Those Enjoying Expatriate Concessions

January 6, 2014
BELGIUM: Proposed Changes Affecting Net Pay of Those Enjoying Expatriate Concessions

The Belgian government issued draft legislation amending the rules for calculating nonresident personal income tax during the Christmas holidays. The important consequences of these measures, if passed, are: • the category of nonresident taxpayers with an abode in Belgium will be abolished; • expatriates benefiting from the expatriate tax concessions who have a foreign...

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Posted in Belgium, Income, Legislation, Nonresident, Personal, Tax, Taxpayers |

BELGIUM: Proposed Changes Affecting Net Pay of Those Enjoying Expatriate Concessions

January 6, 2014

The Belgian government issued draft legislation amending the rules for calculating nonresident personal income tax during the Christmas holidays. The important consequences of these measures, if passed, are: • the category of nonresident taxpayers with an abode in Belgium will be abolished; • expatriates benefiting from the expatriate tax concessions who have a foreign...

Tags:
Posted in Belgium, Income, Legislation, Nonresident, Personal, Tax, Taxpayers |

BELGIUM: Threat Looms of Audits for Taxpayers Claiming Expatriate Concessions

December 16, 2013
BELGIUM: Threat Looms of Audits for Taxpayers Claiming Expatriate Concessions

The Belgian tax authorities have indicated they will be undertaking targeted audits of taxpayers benefiting from Belgium’s expatriate tax concessions. Why This Matters This enhanced scrutiny by the Belgian tax authorities means that if a taxpayer is not compliant with the rules, the taxpayer (and possibly his or her employer) could be subject to...

Posted in Authorities, belgian, Belgium, concessions, Employer, Expatriate, Tax, Taxpayer |

BELGIUM: Threat Looms of Audits for Taxpayers Claiming Expatriate Concessions

December 16, 2013

The Belgian tax authorities have indicated they will be undertaking targeted audits of taxpayers benefiting from Belgium’s expatriate tax concessions. Why This Matters This enhanced scrutiny by the Belgian tax authorities means that if a taxpayer is not compliant with the rules, the taxpayer (and possibly his or her employer) could be subject to...

Posted in Authorities, belgian, Belgium, concessions, Employer, Expatriate, Tax, Taxpayer |

UNITED KINGDOM: Draft 2014 Finance Bill Holds Plenty of Measures for Individuals

December 13, 2013

The U.K. government’s draft 2014 Finance Bill was published on 10 December 2013. This draft legislation relates to announcements made in the Chancellor’s Budget speech on 21 March 2013 and some of the measures announced in his Autumn Statement last week (see Flash International Executive Alert 2013-161, 6 December 2013, for details of the...

Posted in 2013, 2014, employee, Employees, Employer, Income, Legislation, Tax, United Kingdom |

UNITED KINGDOM: Autumn Statement with Tax Proposals and Announcements Presented

December 9, 2013

The Chancellor of the Exchequer, on 5 December 2013, delivered the U.K.’s Autumn Statement. The statement is an annual update by the Chancellor to Parliament on the taxation and spending plans of the government. (For coverage of last year’s Autumn Statement, see Flash International Executive Alert 2012-220, 5 December 2012.) The highlights with respect...

Posted in 2014, Announced, April, employee, Employees, Employment, Government, Tax, United Kingdom |

SPAIN: Case Considers Tax Deductibility of Stock Options

December 9, 2013
SPAIN: Case Considers Tax Deductibility of Stock Options

In this Flash International Executive Alert we examine the recent judgment issued by Spain’s Supreme Court (Tribunal Supremo) regarding the tax deductibility, for Corporate Income Tax purposes, of the expenses incurred by a company as a result of “stock option” plans provided to employees. This judgment comes following a review of an appeal filed by...

Posted in Court, Expenses, judgment, Option, Plans, Spain, Stock, supreme, Tax |

SPAIN: Case Considers Tax Deductibility of Stock Options

December 9, 2013

In this Flash International Executive Alert we examine the recent judgment issued by Spain’s Supreme Court (Tribunal Supremo) regarding the tax deductibility, for Corporate Income Tax purposes, of the expenses incurred by a company as a result of “stock option” plans provided to employees. This judgment comes following a review of an appeal filed by...

Posted in Court, Expenses, judgment, Option, Plans, Spain, Stock, supreme, Tax |

SOUTH AFRICA: Special Report: Tax Law Amendment Bills

November 29, 2013
SOUTH AFRICA: Special Report: Tax Law Amendment Bills

South Africa’s Taxation Laws Amendment Bill (B39-2013) and Tax Administration Laws Amendment Bill (B40-2013), and associated Explanatory Memoranda, were published on 24 October 2013, and contain a number of provisions impacting individuals – including those on international assignment – and employers. Dividends in Respect of Employment Shares and other equity-linked instruments, granted to employees,...

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Posted in benefit, contributions, employee, Employer, FEM Global Immigration News, funds, Income, South Africa, Tax, year |

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