News from GTN

February 2015: International Social Security: 5 Common Misconceptions

According to the United States (US) Social Security Administration, "dual social security tax liability is a widespread problem for US multinational companies and their employees." This problem results because US social security generally applies to both individuals working in the US and to US citizens and resident aliens working outside the US for an American employer, regardless of assignment location or duration.

Read more | February 2015

January 2015: US 2014 Tax Update

As 2014 drew to a close, more than 50 US tax provisions that had expired were extended retroactively for the entire 2014 tax year. Earlier proposals to permanently extend some expired provisions, or to extend all provisions two years, through 2015, were not adopted.

Read more | January 2015

December 2014: Localizing Mobile Employees

Many companies continue to experience an increase in “localizations” (i.e., the process in which mobile employees move off of a traditional expatriate package to be integrated into the host country company on local terms of employment). There are several challenges that may arise during the localization process. As a result, many companies are either adding localization elements into their existing global mobility program, or expanding on their existing policy and practices. As there are many factors to consider, the decision to localize should be a well thought out process.

Read more | December 2014

November 2014: US Credit Migration for Foreign Nationals

The United States welcomes over 300,000 foreign national assignees every year in managerial, technical and consulting professions. And while their skills, talents, families and belongings all make the trip safely, their credit-worthiness doesn’t travel - and it is costing them and their employers a fortune.

Read more | November 2014

October 2014: Housing Considerations for Mobile Employees

As an employee weighs in on the pros and cons of accepting a long-term international assignment or permanent relocation, he or she is faced with a multitude of concerns, from the most sophisticated tax questions to basic considerations surrounding the logistics of the move.

Read more | October 2014

September 2014: UPDATE: Foreign Financial Account Reporting

As a follow-up to our May 2014 newsletter regarding the US requirements for reporting foreign financial accounts, we are providing this alert to highlight significant modifications recently announced by the US Internal Revenue Service (IRS) to its Streamlined Filing Compliance Procedures which are used to encourage taxpayers to voluntarily disclose unreported foreign financial accounts.

Read more | September 2014

September 2014: Year-End Compensation Collection

We recommend performing the compensation collection and reporting process throughout the year so that off-payroll taxable assignment allowances and benefits are reported to payroll on a real-time basis. Many non U.S. locations require a shadow payroll to report regular payroll and off-payroll taxable allowances and benefits as they are paid. For this reason, it is necessary to check the payroll reporting requirements in the various non U.S. locations at the start of an assignment.

Read more | September 2014

August 2014: Foreign Asset Reporting Form - T1135 Foreign Income Verification Statement - 2014 Update

When a Canadian taxpayer owns "specified foreign property," which is generally any foreign investment property costing more than C$100,000 at any time in the year, they are required by the Canadian Income Tax Act to complete and file Form T1135, Foreign Income Verification Statement. This form must be filed by Canadian resident individuals, corporations and trusts, as well as many partnerships.

Read more | August 2014

July 2014: Permanent Establishment Risk in the Global Mobility Context

In the March 2014 newsletter, we presented a high-level overview of both worldwide and territorial corporate tax systems. In this article, we consider how the physical presence of employees in a host country can cause the employer and the employees to be taxable in the host country, even in the case of short-term mobility assignments.

Read more | July 2014

June 2014: UK Mobility Tax Update

With the numbers of individuals moving to the UK increasing, and the tax rules changing so dramatically for mobile employees, it is now more important than ever to ensure that all mobile employees have access to professional tax advice at the outset of their assignment.

Read more | June 2014

May 2014: Foreign Bank Account Reporting

US persons with financial accounts maintained outside the US must report these accounts to the US Department of the Treasury annually if the balance exceeds a certain level during the year. Due to continuing media attention of efforts to improve compliance in this area, individuals are becoming more aware of the filing requirements.

Read more | May 2014

April 2014: Technology Tools for Mobile Employees

Travel can be frustrating for your mobile employees if they do not have the right resources. In this month's newsletter, our guest author, Cathy Heyne, GMS, Managing Director, Marketing & Business Development for Living Abroad LLC, shares a list of great technology tools that can make travel easier for mobile employees.

Read more | April 2014

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