The State Taxation Administration (STA) of China released a report containing a list of eligible regions where taxpayers who have been newly registered may utilize electronic VAT special invoices, “e-fapiao.” This is an amendment to the formerly used system, “fapiao,” in which all VAT special invoices were submitted in paper form.
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Italy Implements COVID-19 Relief Bill to Employers and Employees
With the intent to aid both employees and employers during the COVID-19 pandemic, Italy implemented a COVID-19 Relief Bill, “Ristori-bis,” which has been effective in the country since October 24th, 2020. The significant factors entailed in the decree are set out below. The obligation to make contributions to social benefits are suspended.
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Canadian Employee Stock Option Tax and New Leave Options
Canadian government officials have introduced several new provisions for the year of 2021, including a new employee stock option tax structure, and new leave options. Beginning July 1,2021, eligible businesses will be offered a new structure for taxation of their Employee Stock Option. Preferential tax treatment may be applicable to some employees at an annual vesting max of CAD 200,000.
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Australia Changes in Tax, Hiring Restrictions, and Leaves
Various provisions have been implemented in Australia for 2021 which have set-forth updated structures for tax, leave, and hiring restrictions. A new, lowered tax rate and raised tax threshold has been proposed by government officials in New South Wales, effective as of July 1,2020. This will be a provisional decrease in the rate in, and will put it at 4.85% for 2020-21 and 2021-22.
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Brexit: The new VAT treatment and whom it applies to
The UK has set forth VAT rules for the sale of goods, just concurrently with the culmination of the Brexit transition period. Effective from January 1st, 2021, UK VAT is now applicable for the sale of goods by foreign taxable persons. UK businesses who have utilized a deferral for VAT payments, may now repay the deferred payments in reduced and interest-free payments over an 11 month period.
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Shanghai Tax Bureau Now Collecting Social Insurance
China has implemented a new social insurance collection process in which the Shanghai tax bureau is now collecting the insurance. Effective since November 1st, 2020, the Shanghai tax bureau is now collecting social insurance instead of the social bureau. It is imperative that employers are compliant and ensuring that payments are being made to the correct bureau.
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COVID-19 Relief and LTC Changes in India
Given the immense impact that the pandemic has had on travel and employment, government and finance officials have implemented several Covid-19 relief packages and LTC changes in India. The Indian Parliament has now passed 3 main labor reform bills for 2020; the Social Security code, the Industrial Relations Code, and the Occupational Safety, Health and Working Conditions Code.
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Higher Minimum Wage in the Czech Republic
As of January 1st,2021, government officials have issued an executive order posing a higher minimum wage rate in the Czech Republic. It has been raised from a monthly rate of CZK 14,600 to CZK 15,200. The rate for employees who hold work permits and or employee cards has also been raised by 4.1%.
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Ultimate Beneficial Owner Filing Requirements in Italy
Ultimate beneficial ownership filing requirements in Italy mandates that all companies operating in Italy are required to report and maintain an ultimate beneficial owner. The Legislative Decree 231/2007 has proposed a mandate that all business entities must file information pertaining to beneficial ownership (“UBO”) by March 15, 2021.
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Changes to Leave Policies in Ireland
Ireland leave changes for 2020 include increases in unpaid parental leave time, and introduction of new paid sick and parental leave (CoVid-19) Bill. As of September 01, 2020, the unpaid parental leave time in Ireland has been raised from 22 weeks to 26 weeks per parent.
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Australia Increases Annual Leave Time for Employees
In light of the current pandemic, many employers around the world have began to implement changes into their workplace policies, especially those pertaining to leaves. Employees in Australia are now provisionally entitled to take up to two-times their annual leave at half-pay.
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Brexit: Establishing a Trade Deal Between EU and UK
The Queen has approved the Brexit EU-UK trade deal, declaring it an official law in the UK. After lengthy deliberation, an agreement between Britain and the European Union has been passed outlining the Brexit EU-UK trade deal.
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When Speed Matters – Global PEO Success Stories
When expanding globally, speed and personalization are often critical to successfully hiring candidates. When speed matters, our Global PEO Services team works 24/7 across time zones to make things happen for our Clients and their employees.
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A Customized Approach to Global PEO
In need of support for their international employees, and intent on maintaining efficient global operations, a multi-national non-profit organization turned to Global PEO Services to ensure compliance, establish payroll and benefits continuity, and transition them to a consolidated PEO solution.
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Hiring Globally. Is an International PEO Right for You
Are you looking to expand your business in the US or internationally? Register for this panel to hear experts in outsourced HR provide insights on PEO/EOR services and flexible workspace options.
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The Global Shift Towards Outsourced Expansion, HR, and Workspace Solutions
Are you looking to expand your business in the US or internationally? View this panel to hear experts in outsourced HR provide insights on PEO/EOR services and flexible workspace options.
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Business Expectations After Working Remote
Business growth requires more than simply adjusting to a changing economic landscape. Companies need to take a step back and reflect on what trends will come and go, and which will become permanent.
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Global Expansion Options: Countries to Consider
As the global economic landscape continues to evolve, it’s important to understand the benefits of creating a global workforce. Here are just a few of the advantages you can anticipate from expanding to new countries:
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Best Ways to Communicate with a Global Team
The recent pandemic shined a light on many businesses’ ability to survive as employees were forced to work from home. Remote work has been a topic of debate for many years, but often wasn’t considered a realistic option.
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How Businesses Can Adjust to a Remote Workforce
How is your business adjusting to the coronavirus outbreak? Is remote work impacting productivity? Are you able to measure and track that impact? These are just a few of the important questions to consider during these challenging times.
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[Podcast] The New EU Timekeeping Ruling – Info And Impact
Have you heard of the EU timekeeping ruling? When passed in May 2019, the European Court of Justice (ECJ) ruled that companies operating in the EU must set up a system to track and record the duration of time worked each day by each worker.
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