News from GTN

April 2016: Post Filing Deadline Checklist - Get Planning and Start Saving

Now that the tax busy season is over, it's a good time to relax. The summer months also present an ideal time to review the past compensation and tax seasons. This will allow you and your tax provider to be better prepared for a smoother tax season before it all starts again. Identified below are a number of areas that we recommend you begin to review now, while the memories of the past six months busy times are fresh in your memory.

Read more | April 2016


March 2016: US Streamlined Compliance Filing Procedures

Are you a U.S. citizen or green card holder living overseas? Did you know that the U.S. is one of the few countries in the world that taxes based on citizenship rather than residency? U.S. citizens and green card holders are required to file annual U.S. income tax returns, reporting worldwide income and gains, no matter where they live in the world.

Read more | March 2016


February 2016: Canada: Changes to the Non-Resident Withholding Relief Process

Further to the changes proposed in 2015, on January 12, 2016 the Canada Revenue Agency (CRA) released information on the process for providing 'qualifying non-resident employers' relief from the Canadian income tax withholding requirements on remuneration paid to 'qualifying non-resident employee' for services performed in Canada.

Read more | February 2016


January 2016: US Tax Law Update

Further to the changes proposed in 2015, on January 12, 2016 the Canada Revenue Agency (CRA) released information on the process for providing 'qualifying non-resident employers' relief from the Canadian income tax withholding requirements on remuneration paid to 'qualifying non-resident employee' for services performed in Canada.

Read more | January 2016


November 2015: Hypothetical Tax Withholding

For purposes of this discussion, a hypothetical tax calculation refers to a periodic estimate of an assignee's annual stay-at-home tax. The computation is prepared to determine the amount of "tax" to be ratably withheld from an international assignee's wages while on assignment. Many employers will prepare a detailed hypothetical tax calculation when an assignee first goes on assignment and then annually, thereafter.

Read more | November 2015


October 2015: Building a Road Map to a Global Employee Stock Purchase Plan

It is easy to be overwhelmed when faced with the task of establishing and operating a globally offered employee stock purchase plan (ESPP). Identifying and understanding the key issues at the outset of the project is the first step toward achieving your goal.

Read more | October 2015


September 2015: Questions and Answers Regarding Compensation Collection and Reporting

Collecting, compiling, analyzing, and reporting worldwide compensation for globally mobile employees is an arduous process for many companies. Given the technical requirements, logistics, and time constraints of reporting, a solid understanding of certain requirements and practical approaches is critical.

Read more | September 2015


August 2015: US Domestic Mobile Workforce Tax Considerations

In today's workforce, it is common to have employees working on multiple projects across the country. It is surprising to many that working outside of their resident home state for as little as one day could create tax reporting, withholding and filing requirements. Unfortunately, states do not currently follow a consistent set of rules in determining when nonresidents become subject to tax and at which point company reporting and withholding obligations are triggered. This newsletter provides a summary of current and pending legislation, an overview of the risks for noncompliance, and a discussion on best practices to consider when evaluating US mobile workforce tax issues for your organization.

Read more | August 2015


July 2015: UK Mobility Tax Update

The residency status of a globally mobile individual is a key factor for income taxation. It is also important for social security and estate and gift taxes. Residents and non-residents are often subject to significantly different tax rules in a country.

Read more | July 2015


June 2015: Frequent Business Travelers into Canada - Tax Compliance Update

This is an update to our recent March newsletter which outlined the tax withholding and reporting requirements for frequent business travelers into Canada. We invite you to refer to the March Newsletter for a further discussion of the background on this topic and a detailed discussion of the existing Canadian tax rules.

Read more | June 2015


May 2015: US Tax Implications of Relinquishing your US Citizenship or US Green Card

Tax compliance has become increasingly complex due to expanded overseas bank and financial account reporting and tax compliance requirements. There has been a rise in the number of the estimated six million US citizens living abroad who are giving up their US citizenship. According to the US Treasury Department, a record 3,415 Americans renounced their citizenship in 2014. The rise continues as in the first quarter of 2015 alone, according to recent data released by the IRS, more Americans living outside the US gave up their citizenship than ever before. According to data compiled by Bloomberg, the 1,335 expatriations in the first quarter of 2015 surpassed the previous record by 18 percent.

Read more | May 2015


March 2015: Frequent Business Travelers into Canada - Tax Compliance Obligations Overview

Given increased globalization, many governments and tax authorities are increasing their efforts to enforce compliance rules targeting frequent business travelers. Canada is certainly no exception. Our recent experiences indicate that the Canada Revenue Agency (CRA) has increased its audit activities in this area and has begun enforcing the rules even for short-term business travelers into Canada. In this environment, it is crucial for multinational companies doing business in Canada to have visibility into their employees’ travel and to be aware of the risk and compliance implications of this travel.

Read more | March 2015


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