Belgium - Income Tax. Tax returns and compliance. Residents. Non-residents. 1 April 2016 Taxation of international executives

Size: px
Start display at page:

Download "Belgium - Income Tax. Tax returns and compliance. Residents. Non-residents. 1 April 2016 Taxation of international executives"

Transcription

1 Belgium - Income Tax 1 April 2016 Taxation of international executives Tax returns and compliance When are tax returns due? That is, what is the tax return due date? 30 June for residents and, in principle, 30 September for non-residents. Later dates may apply when filing electronically. The exact dates are determined by the tax authorities each year and can vary. What is the tax year-end? 31 December. What are the compliance requirements for tax returns in Belgium? All individuals resident in Belgium and non-resident individuals taxed on Belgian-sourced income are required to file an annual tax return. The government, in principle, issues a tax return form to each taxpayer. Residents For residents, their filings are due within one month after receipt of the tax form from the tax authorities and, in principle, at the latest on 30 June of the year following the income year. Resident taxpayers must obtain the necessary forms from the Ministry of Finance if they have not received them by 1 June. Resident taxpayers can opt to file their return electronically. Failure to comply with this requirement gives rise to a fine and/or penalty and could also result in taxation on an estimated basis. In principle, Belgian law provides that the employers deduct a withholding tax from salaries payable to employees as determined by prescribed tax tables. The difference between the final tax liability and the withholding is payable or refundable within two months after receipt of the tax assessment. The tax assessment is, in principle, issued before 30 June two years following the income year. Persons who are married or legally living together are required to file their tax return jointly except for the year of marriage, year of declaration of legal cohabitation, or if they are living separately. Spouses and legally cohabiting partners are taxed separately on all income. If the spouse/legally cohabiting partner does not work, up to 30 percent of the working spouse s/legally cohabiting partner s net employment income is attributable to the non-working spouse/legally cohabiting partner. (This allocation is limited to "EUR 10,290" on an annual basis in 2016). Income of minor children is reported on the tax return of the parents as long as they are living with their parents, unless it is business income or alimony. Non-residents For non-residents the filing deadline is, in principle, 30 September of the year following the income year. Non-resident taxpayers must also obtain the necessary forms from the Ministry of Finance, if they have

2 not received them in time. Non-resident taxpayers can also opt to file their return electronically. In principle, Belgian law provides that the employers deduct a withholding tax from salaries payable to employees as determined by prescribed tax tables. The difference between the final tax liability and the withholding is payable or refundable within two months after receipt of the tax assessment. The tax assessment is, in principle, issued before 30 June two years following the income year. In specific factual circumstances there is no obligation to deduct withholding tax on the salaries paid to non-residents. Persons who are married or legally living together are required to file their tax return jointly except for the year of marriage, year of declaration of legal cohabitation, or if they are living separately. Spouses and legally cohabiting partners are taxed separately on all income. If the spouse/legally cohabiting partner does not work, up to 30 percent of the working spouse s/legally cohabiting partner s net employment income is attributable to the non-working spouse/legally cohabiting partner. (This allocation is limited to "EUR 10,290" on an annual basis in 2016). This allocation, as well as federal standard personal allowances and federal tax credits, only applies for taxpayers that have at least 75 percent of their worldwide income taxable in Belgium or taxpayers that are able to claim (partial) exemptions based on a tax treaty. Depending on the fact that the taxpayer is resident of another EER member state (not including Belgium), he/she will be able to claim (partial) regional tax credits too. Income of minor children is reported on the tax return of the parents as long as they are living with their parents, unless it is business income or alimony. Tax rates What are the current income tax rates for residents and non-residents in Belgium? Residents and non-residents Income tax is calculated by applying a progressive tax rate schedule to taxable income. The rates are as follows: Income tax table for 2016 Taxable income bracket Total tax on income below bracket Tax rate on income in bracket From EUR To EUR EUR Percent 0 10, ,860 12,470 2, ,470 20,780 3, ,780 38,080 6, ,080 Over 14, Resident tax rates also apply to non-residents. Furthermore, the Belgian taxes calculated on the total amount of personal allowances (see below) will be deducted from the total amount of taxes. Personal allowances EUR Basic personal allowance 7,130

3 Personal allowance 1 child 1,520 Personal allowance 2 children 3,900 Personal allowance 3 children 8,740 Personal allowance 4 children 14,140 For every extra child 5,400 Extra allowance per child less than 3 years old (if no deductions for actual child care expenses incurred are claimed) 570 Residence rules For the purposes of taxation, how is an individual defined as a resident of Belgium? A resident of Belgium is defined as a person who has his/her family home in Belgium. If a person does not have his/her family home in Belgium, he/she will be considered as a resident or the place from where he/she manages his/her personal wealth/business/occupation is located in Belgium. Persons registered in the Civil Register are presumed to be resident, unless the contrary is proven. Persons are irrevocably presumed to be resident of Belgium when their family lives in Belgium. Foreign nationals qualifying for the expatriate special income tax regime are deemed to be non-residents for income tax purposes. Is there, a de minimus number of days rule when it comes to residency start and end date? For example, a taxpayer can t come back to the host country for more than 10 days after their assignment is over and they repatriate. No. What if the assignee enters the country before their assignment begins? The earlier-described residency rule will apply. Termination of residence Are there any tax compliance requirements when leaving Belgium? In principle, a resident individual must file a final tax return within three months of departure. The residence situation should, however, be analyzed taking into account the Belgian residence rules (such as family situation). What if the assignee comes back for a trip after residency has terminated? The assignee will remain non-resident as long as the conditions of residence are not fulfilled. Communication between immigration and taxation authorities

4 Do the immigration authorities in Belgium provide information to the local taxation authorities regarding when a person enters or leaves Belgium? As part of the immigration process, an individual has to register himself/herself with the local commune upon arrival in Belgium and deregister himself/herself with the commune upon departure from Belgium. This information is available for the Belgian tax authorities. In practice, this implies that the individual automatically receives a Belgian income tax return form from the Belgian tax authorities. Filing requirements Will an assignee have a filing requirement in the host country after they leave the country and repatriate? If the assignee receives compensation (deferred payments, bonus, and so on) related to the assignment in Belgium that is considered as taxable in Belgium, there will be a filing requirement. If any outstanding tax liability related to the Belgian assignment is paid by the employer afterwards, this payment will be considered as a taxable benefit on behalf of the individual which will trigger a filing requirement. Economic employer approach Do the taxation authorities in Belgium adopt the economic employer approach to interpreting Article 15 of the OECD treaty? If no, are the taxation authorities in Belgium considering the adoption of this interpretation of economic employer in the future? Yes. The interpretation of the Belgian tax authorities of the notion employer in the framework of Article 15 of the double taxation treaties concluded by Belgium is outlined in Administrative Circular nr. AFZ 2005/0652 (AFZ 08/2005) of 25 May In the circular, the authorities follow the current interpretation of Belgian jurisprudence. According to the circular, the relationship between the employee and the employer is characterized by the existence of a link of subordination between the employer and the employee. The tax authorities are thus adopting the economic employer approach. Various circumstances should be taken into account to determine the possible existence of a link of subordination and they are in line with the Commentary on Article 15 of the OECD model tax treaty. De minimus number of days Are there a de minimus number of days before the local taxation authorities will apply the economic employer approach? If yes, what is the de minimus number of days? No. Types of taxable compensation What categories are subject to income tax in general situations? Belgian residents are taxed on their worldwide earned and passive income. Non-residents are taxed only on their Belgian-sourced income. The following categories of income are subject to income tax: earned income; income from self-employment; trade or business partnership; dividends;

5 interest; income from real property; miscellaneous income. Employment income is taxable when received or, when the employee is entitled to receive it, whichever occurs earlier. Employment income is subject to tax to the extent it was earned during a period of Belgium residence, or in the case of income earned while non-resident to the extent it was earned in respect of duties performed in Belgium. Dividends and interest are subject to a withholding tax which is generally the final tax. Tax-exempt income Are there any areas of income that are exempt from taxation in Belgium? If so, please provide a general definition of these areas. Tax-exempt income, regularly granted by the Belgian employer, includes meal vouchers, representation allowances, and daily expense allowances. Please refer also to the section of tax-exempt income under the Belgian expatriate special income tax regime. Expatriate concessions Are there any concessions made for expatriates in Belgium? The employee may qualify for a favorable tax status. Qualification for the expatriate special income tax regime is not automatic, but requires the filing of a special application request by both the employer and expatriate employee within six months from the first day of the month following the start of employment or secondment to Belgium. It should be clearly shown that the four qualifying conditions have been met. The expatriate must be a foreign national. The expatriate must be either an executive or a director of a company, or a researcher or a specialist. The expatriate must be a non-resident for Belgian income tax purposes. The Expatriate Tax Circular of 8 August 1983 lists a set of factual circumstances that are indicative of such a non-resident status. The expatriate must be temporarily employed in Belgium by an employer that is part of an international group of companies. The expatriate who meets these conditions will benefit from tax concessions that reduce the annual taxable remuneration by the deduction of tax-free allowances up to a limit of EUR 11,250/EUR 29,750. Furthermore, the expatriate will only be assessed according to graduated tax rates on remuneration for work actually performed in Belgium and on other Belgian-sourced income (excluding movable income but including income from Belgian real property). Under the Belgian expatriate special income tax regime, some so-called expatriate allowances (such as tax equalization, cost-of-living differential, housing differential, and home leave allowance) are treated as a reimbursement of extra expenses that are properly borne by the employer, rather than by the employee and are, therefore, not taxable to the individual employee. A distinction is made between non-repetitive expenses and repetitive expenses. The excludable portion of repetitive expenses is limited to EUR 11,250 per year, for expatriate personnel employed by operating companies, and to EUR 29,750 per year, for expatriate personnel employed by controlling and coordinating offices or research centers. However, education expenses, even though considered repetitive costs, as well as non-repetitive expenses, may be excluded without limit. The following expenses are considered to be non-repetitive expenses.

6 Moving costs on arriving in Belgium and on leaving Belgium. The cost of setting up a home in Belgium or other initial costs of first arrival in Belgium and decoration costs of a dwelling in Belgium. Repetitive expenses that qualify for exclusion include allowances granted to cover the differences in costof-living and housing between Belgium and the expatriate s country of origin, home leave, and tax equalization. However, the actual allowance paid only qualifies for exclusion to the extent permitted by prescribed guidelines. The determination of the expatriate s country of origin has a direct impact on the total amount of the taxfree allowances as the excludable expenses may only cover the cost differential between Belgium and the expatriate s country of origin. Education expenses Education expenses (duly justified with invoices) for the expatriate s children in primary or secondary schools, while repetitive in nature, are expenses that can be excluded in addition to the maximum amounts mentioned above. The excludable cost of education in Belgium includes tuition and registration fees, local transport, and other expenses imposed by the school, but exclude boarding expenses (food and lodging) and the cost of private lessons. With respect to education costs abroad, the excludable portion of education expenses incurred outside Belgium shall be determined on a case-by-case basis. Tax equalisation Tax equalization has been defined to include only the difference between Belgium income tax and the hypothetical home country federal national, as well as other sub-federal/national level income taxes (also referred to as regional taxes) that the expatriate would have incurred if living at home. For the calculation of the hypothetical regional tax, taxpayers are deemed to be resident in the capital of their home country. Social security charges do not, therefore, form part of the tax equalization concept and reimbursement of such taxes may not be excluded. Moving costs Under the Belgian expatriate special income tax regime, moving costs (duly justified with invoices) upon arrival in/leaving from Belgium are to be considered as costs proper to the employer (no ceiling applicable). These moving costs cover the expenses related to moving expatriate s personal belongings (from the home country to Belgium and vice-versa), including costs for prospecting real estate in Belgium. Lumpsum allowances or reimbursements of moving expenses that can not be justified with invoices always are to be considered as taxable in the hands of the employee. First arrival costs Under the Belgian expatriate special income tax regime, first arrival costs (duly justified with invoices) are to be considered as costs proper to the employer (no ceiling applicable) under certain conditions. Please note that the expenses related to the purchase of items that an expatriate might take back to his/her home country after his/her assignment (furniture, home appliances, and so on) do not qualify for the exemption. Salary earned from working abroad Is salary earned from working abroad taxed in Belgium? If so, how?

7 For residents, salary earned from working abroad should be reported and might be exempted with progression depending on the applicable double tax treaty. When benefiting from the Belgian expatriate special income tax regime, the taxable income may be reduced to the extent that the expatriate spends part of his/her business time outside Belgium. The tax authorities have provided precise rules for determining days worked outside of Belgium. Taxation of investment income and capital gains Are investment income and capital gains taxed in Belgium? If so, how? Resident and non-residents taxpayers are taxable on capital gains realized on assets used for business purposes. Capital gains realized on land and buildings held for private purposes are taxable to resident and non-residents taxpayers under certain conditions. Capital gains realized on portfolio investments or other personal property held for private purposes are not taxable for residents and non-residents, provided they result from the normal management of private wealth and, for portfolio investments, provided such capital gains do not result from the sale of substantial participations. The capital gains resulting from the sale of substantial participations between two residents or between a resident and a non-resident, located within the European Economic Area (EEA), are free of taxation. On the other hand, capital gains resulting from such a transaction between a resident and a non-resident outside of the European Economic Area are taxable. Individuals benefiting from the expatriate special income tax regime are subject to these rules as nonresidents, which means that the rules only apply to Belgian-source capital gains. Other income taxable to residents and non-residents (to the extent it is Belgian-sourced income) includes miscellaneous profits and a widely defined range of other sources including prizes and subsidies. Dividends, interest, and rental income Dividends Resident taxpayers are taxable on dividend income from a Belgian or foreign-source. However, it is not compulsory for individual resident taxpayers to report dividend income provided it has been subject to Belgian withholding tax, which in most cases is of 27 percent. Non-resident taxpayers, including foreign nationals living in Belgium who benefit from the expatriate special income tax regime, are subject to Belgian income tax on Belgian-sourced dividends. Also, when such individuals have foreign dividends remitted directly to Belgian bank accounts, some tax treaties permit Belgium to withhold tax. Interest Interests accrued on a regulated savings account are tax-free up to EUR 1,880 per taxpayer. Above this amount they are subject to a 15 percent withholding and final tax rate. Most other interests accrued in Belgium are subject to a 25 percent tax rate. Rental income Resident taxpayers are taxed on income from real property located both in Belgium and abroad. The income of real property abroad can in most cases be exempt with progression (depending on the application of a double tax treaty). Income tax is levied on the basis of the net rental income after deduction of a standard allowance. Non-resident taxpayers are taxed on income from real property located in Belgium on the same basis as residents. However, foreign real property income is exempt to non-residents. The principal residence located in the EEA is, in many cases, free of personal income tax. Mortgage loans concluded with a bank situated in the EEA for the acquisition of an immovable property

8 located in the EEA may give right to tax savings in Belgium. Gains from stock option exercises Residency status Taxable at: Grant Vest Exercis e Resident Y/N Y/N Y/N Non-resident Y/N Y/N Y/N Other (if applicable) Y/N Y/N Y/N Please note that the moment of taxation of stock options in Belgium depends on various circumstances (stock option plan, date of grant, and so on.) Foreign exchange gains and losses Foreign exchange gains and losses are, in principle, not taxable or tax deductible. Principal residence gains and losses Principal residence gains and losses are, in principle, not taxable or tax deductible. Capital losses Capital losses are, in principle, not tax deductible. Gifts Residents who make gifts of real or personal property are subject to gift taxes. For some types of gifts, it is possible to avoid gift tax. The applicable rule with respect to gift tax and gift tax rates depends on the region of Belgium where the individual is living. Additional capital gains tax (CGT) issues and exceptions Are there additional capital gains tax (CGT) issues in Belgium? If so, please discuss? There is no specific separated capital gains tax in Belgium. Some capital gains are taxed within the income tax regime. Are there capital gains tax exceptions in Belgium? If so, please discuss? A new tax on short term gains on listed shares and derivatives has been introduced. Any gains realized within a holding period of less than 6 months are taxed at a flat 33% rate. Short term capital losses are not tax deductible.

9 General deductions from income What are the general deductions from income allowed in Belgium? The following items of expenditure may be deducted from the income. Social security payments: Belgian or foreign compulsory social security payments are deductible for income tax purposes. Standard business deductions: A standard business deduction is computed on employment income as follows. From EUR To EUR Base deduction for income below bracket (EUR) Rate of deduction of income in bracket , , , , , Over 3, The maximum standard business deduction for employees is EUR 4,240. For directors (board members and equivalent), the standard business deduction is 3 percent with a maximum deduction of EUR 2,390. If the actual business expenses exceed the standard business deduction, the actual expenses may be deducted. 80 percent of alimony payments paid in pursuance of the civil code, the judicial proceedings code or the Law on legal cohabitation or in pursuance of a similar foreign law. Tax reimbursement methods What are the tax reimbursement methods generally used by employers in Belgium? The following are the normal methods of recognizing tax reimbursements paid by the employer: current year gross-up current year reimbursement one year rollover. Calculation of estimates/ prepayments/ withholding How are estimates/prepayments/withholding of tax handled in Belgium? For example, Pay-As-You- Earn (PAYE), Pay-As-You-Go (PAYG), and so on. Income taxes are, in principle, withheld by the employer on a regular basis. The final tax payment should be made within two months of the date of the final tax assessment. It is also possible to make quarterly estimated tax payments during the income year to reduce the final tax payment. Quarterly estimated tax payments give rise to a tax credit reducing the amount of tax due for the year. The

10 tax credit will depend on the date of the payment (the earlier the payment, the higher the credit). The basis for determining these quarterly estimated tax payments is the estimated tax liability on projected taxable income less applicable withholding taxes and tax credits. The amount of income tax withholding, if applicable, is determined in accordance to special withholding tax tables. When are estimates/prepayments/withholding of tax due in Belgium? For example: monthly, annually, both, and so on. In case a withholding tax obligation exists, the employer should deduct withholding tax from the wages and transfer the withheld tax to the Belgian tax authorities by the 15th of the month following the payment of wages at the latest. Tax prepayments should be made before the following dates during the income year in order to be creditable for the respective quarters: 10 April, 10 July, 10 October, and 20 December. Relief for foreign taxes Is there any relief for foriegn taxes in Belgium? For example, a foreign tax credit (FTC) system, double taxation treaties, and so on? In the event a specific double tax treaty has not been concluded, unilateral rules have been provided to reduce the burden of double taxation. These are described as follows. A reduction by 50 percent of the Belgian income tax levied on foreign property income, income from personal services, and certain types of miscellaneous income, such as speculative income and alimony. A foreign tax credit is available for income derived from capital investments and movable property used for business purposes in Belgium and subject in the foreign country to a tax similar to the Belgian income tax. However, there are important restrictions. No credit for actual foreign taxes paid on other income is available under Belgian domestic law, but foreign taxes are deductible against taxable income. Tax treaties concluded by Belgium alleviate the tax burden in Belgium on certain foreign income received by resident taxpayers. Generally, with respect to personal property income, the taxpayer is entitled to a foreign tax credit referred to above and with respect to income other than personal property income, an exemption is provided. The exempt income may be taken into account in determining the rate of tax on Belgian-sourced income (exemption with progression method). The use of split compensation arrangements may therefore prove favorable provided the foreign rate of taxation is lower than the Belgian one. Only the net amount of earnings derived from abroad, after deduction of the foreign taxes, is taken into account for determining the rate of taxation to be applied to the income derived from a Belgian source. General tax credits What are the general tax credits that may be claimed in Belgium? Please list below. There are a variety of tax credits available, each with their own specific rules of application, calculations and limitations. The most common are: charitable donations capital and interest payments related to a mortgage loan service cheques pension saving plan contributions life insurance plan contributions

11 child care expenses investments to prevent burglary and fire. Sample tax calculation This calculation 3 assumes a married taxpayer non-resident in Belgium with two children whose three-year assignment begins 1 January 2016 and ends 31 December The taxpayer s base salary is USD 100,000 and the calculation covers three years USD 2017 USD 2018 USD Salary 100, , ,000 Bonus 20,000 20,000 20,000 Cost-of-living allowance 10,000 10,000 10,000 Housing allowance 12,000 12,000 12,000 Company car 5,400 5,076 4,752 Moving expense reimbursement 20, ,000 Home leave 0 5,000 0 Education allowance 3,000 3,000 3,000 Interest income from non-local sources 6,000 6,000 6,000 Exchange rate used for calculation: USD 1.00 = EUR Other assumptions All earned income is attributable to local sources. Bonuses are paid at the end of each tax year, and accrue evenly throughout the year. Interest income is not remitted to Belgium. The company car is used for business and private purposes and originally cost USD 50,000, has a CO2-emission of 160 g/km, fuel type diesel and was first registered in January The employee is deemed non-resident throughout the assignment. Tax treaties and totalization agreements are ignored for the purpose of this calculation. Application of Belgian expatriate special income tax regime (including 25 percent of foreign business travel and tax-free allowances limited to EUR 11,250). Annual rent paid by the expatriate amounts to EUR 24,000. Application of Belgian social security contributions. Interest income is not remitted in Belgium. Calculation of taxable income

12 Year-ended 2016 EUR 2017 EUR 2018 EUR Days in Belgium during year Earned income subject to income tax Salary 90, , , Bonus 18, , , Cost-of-living allowance 9, , , Net housing allowance 10, , , Company car 4, , , Moving expense reimbursement 18, , Home leave Education allowance 2, , , Total earned income 153, , , Other income 5, , , Total income 159, , , Deductions 79, , , Total taxable income 79, , , Calculation of tax liability 2016 EUR 2017 EUR 2018 EUR Taxable income as above 79, , , Belgian tax thereon 32, , , Less: Domestic tax rebates (dependent spouse rebate) 4, , , Foreign tax credits Total Belgian tax (excl. social security) 28, , ,396,00 1 Certain tax authorities adopt an economic employer approach to interpreting Article 15 of the OECD

13 model treaty which deals with the Dependent Services Article. In summary, this means that if an employee is assigned to work for an entity in the host country for a period of less than 183 days in the fiscal year (or, a calendar year of a 12-month period), the employee remains employed by the home country employer but the employee s salary and costs are recharged to the host entity, then the host country tax authority will treat the host entity as being the economic employer and therefore the employer for the purposes of interpreting Article 15. In this case, Article 15 relief would be denied and the employee would be subject to tax in the host country. 2 For example, an employee can be physically present in the country for up to 60 days before the tax authorities will apply the economic employer approach. 3 All information contained in this document is summarized by KPMG Tax and Legal Advisers, the Belgian member firm of KPMG International, based on the Belgian Income Tax Code of 1992 and subsequent amendments; the Circular RH 624/ of 8 August 1983; the Web site of the federal fiscal administrations; the Belgian Social Security Act of 29 June 1981; the Belgian Law of 30 March 1994; the Web site of the Belgium Social Security administration KPMG Tax and Legal Advisers, a Belgian Civil Cooperative Company with Limited Liability (burg. CVBA/SCRL civile) and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. Tax rates are checked regularly by KPMG member firms; however, please confirm tax rates with the country's tax authority before using them to make business decisions. Connect with us 9 Find office locations us -t. Social KPMG Request for proposal ) Submit KPMG's new digital platform KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content. ) Read more

14 Legal Privacy Accessibility Sitemap Help Contact Glossary 2016 KPMG International Cooperative ( KPMG International ), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

Taxation of individuals

Taxation of individuals Taxation of individuals Luxembourg 2018 kpmg.lu Tax year The tax year corresponds to the calendar year. Tax rates Progressive tax rates ranging from 0% to 45.78% apply to taxable income not exceeding 200,004

More information

Luxembourg income tax 2018 Guide for individuals

Luxembourg income tax 2018 Guide for individuals Luxembourg income tax 2018 Guide for individuals www.pwc.lu 2 Table of Contents Basic principles Employment income Directors fees Dividend and interest income 1 2 3 4 5 Capital gains p4 p8 p9 p9 p10 Real

More information

Taxation of individuals

Taxation of individuals Taxation of individuals Luxembourg 2016 kpmg.lu Tax year The tax year corresponds to the calendar year. Tax rates Progressive tax rates ranging from 0% to 42.8% apply to taxable income not exceeding 150,000

More information

International assignees working in Belgium

International assignees working in Belgium www.pwc.be International assignees working in Belgium Creating value for your business through people Human Resources Services International Assignment Taxation Folio Country: Belgium Introduction International

More information

Dutch tax system and planning opportunities

Dutch tax system and planning opportunities Dutch tax system and planning opportunities expatriates taking up employment in the Netherlands will be subject to Dutch comprehensive rules. Grant Thornton s Global Mobility Services team can help expatriates

More information

U.S. taxation of foreign citizens

U.S. taxation of foreign citizens U.S. taxation of foreign citizens Global Mobility Services 2019 kpmg.com U.S. taxation of foreign citizens The following information is not intended to be written advice concerning one or more Federal

More information

International assignees Working in Belgium Creating value for your business through people Country Belgium

International assignees Working in Belgium Creating value for your business through people Country Belgium www.pwc.com/globalmobility International assignees Working in Belgium Creating value for your business through people Country Belgium Human Resources Services International Assignment Taxation Folio Last

More information

International Tax Belgium Highlights 2018

International Tax Belgium Highlights 2018 International Tax Belgium Highlights 2018 Investment basics: Currency Euro (EUR) Foreign exchange control No Accounting principles/financial statements Belgian GAAP. IFRS is mandatory for consolidated

More information

INTERNATIONAL ASSIGNMENT SERVICES. Australian Taxation of Foreign Nationals

INTERNATIONAL ASSIGNMENT SERVICES. Australian Taxation of Foreign Nationals INTERNATIONAL ASSIGNMENT SERVICES Australian Taxation of Foreign Nationals Table of Contents Introduction 7 1. Will I have to pay tax in Australia during my assignment? 8 1.1 The Australian tax system

More information

Global Mobility Services: Taxation of International Assignees - Spain

Global Mobility Services: Taxation of International Assignees - Spain www.pwc.es/en Global Mobility Services: Taxation of International Assignees - Spain People and Organisation Global Mobility Country Guide (Folio) Last updated: February 2017 This document was not intended

More information

Austria Individual Taxation

Austria Individual Taxation Introduction Individuals are subject to national income tax. There are no local income taxes. After 1 August 2008, inheritance and gift tax is no longer levied. Social security contributions are also levied.

More information

Mobility matters The essential UK tax guide for individuals on international assignment abroad

Mobility matters The essential UK tax guide for individuals on international assignment abroad www.pwc.co.uk Mobility matters The essential UK tax guide for individuals on international assignment abroad December 2017 Contents 1 Determining your UK tax liability 1.1 What impact will my overseas

More information

Germany Taxable income. Introduction. 1. Income Tax Taxable persons. This chapter is based on information available up to 11 March 2010.

Germany Taxable income. Introduction. 1. Income Tax Taxable persons. This chapter is based on information available up to 11 March 2010. This chapter is based on information available up to 11 March 2010. Introduction Individuals are subject to income tax, which is increased by a solidarity surcharge. Individuals carrying on a trade or

More information

Finland. Structure and development of tax revenues. National tax systems: Structure and recent developments. Table FI.1: Tax Revenue (% of GDP)

Finland. Structure and development of tax revenues. National tax systems: Structure and recent developments. Table FI.1: Tax Revenue (% of GDP) Finland Structure and development of tax revenues Table FI.1: Tax Revenue (% of GDP) 00 003 004 005 006 007 008 009 010 011 01 013 Ranking Revenue (billion euros) A. Structure by type of tax Indirect taxes

More information

Tax Memento Luxembourg 2018

Tax Memento Luxembourg 2018 Tax Memento Luxembourg 2018 Corporate Main taxes Corporate Income Tax (CIT) Taxable Income Rate Less than 25,000 15% Between 25,000 and 30,000 Exceeding 30,000 18% 3,750 + 33% of the income exceeding 25,000

More information

Chapter 15. Taxation of Individuals

Chapter 15. Taxation of Individuals Chapter 15 Taxation of Individuals The tax system applicable to individuals This Chapter deals with the special provisions and further considerations applicable to the taxation of individuals in addition

More information

Thinking Beyond Borders

Thinking Beyond Borders INTERNATIONAL EXECUTIVE SERVICES Thinking Beyond Borders France kpmg.com France Introduction Income tax in France is assessed on a family/household basis. Income tax liability is determined by applying

More information

Taxation of: U.S. Foreign Nationals

Taxation of: U.S. Foreign Nationals Taxation of: U.S. Foreign Nationals 2017 Edition ZanderSterling.com 1 The information contained in this publication is provided for general informational purposes only and is based on U.S. income tax law

More information

Global Mobility Services: Taxation of International Assignees - Lesotho

Global Mobility Services: Taxation of International Assignees - Lesotho www.pwc.com/globalmobility Global Mobility Services: Taxation of International Assignees - Lesotho Taxation issues & related matters for employers & employees 2018/19 Last Updated: June 2018 This document

More information

France Taxable income. Introduction. 1. Individual Income Tax 1.1. Taxable persons

France Taxable income. Introduction. 1. Individual Income Tax 1.1. Taxable persons This chapter is based on information available up to 1 January 2014. Introduction Resident individuals are subject to income tax on their worldwide income. The tax is generally imposed on the aggregate

More information

Expat Client Questionnaire

Expat Client Questionnaire Expat Client Questionnaire The tax professionals at Williams and Parsons, PC are dedicated to serving the American expatriate community. Filling out this organizer will help with gathering the information

More information

Leasing taxation Estonia

Leasing taxation Estonia 2012 KPMG Baltics OÜ, an Estonian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss

More information

Taxation of Australian nationals working overseas

Taxation of Australian nationals working overseas nationals working overseas 2 Contents Introduction 1 1. Will I still have to pay tax in Australia while I work overseas? 2 1.1 The Australian tax system 2 1.2 Impact of overseas assignment 2 2. Will I

More information

Global Mobility Services: Taxation of International Assignees - Angola

Global Mobility Services: Taxation of International Assignees - Angola www.pwc.com/ao/en Global Mobility Services: Taxation of International Assignees - Angola Taxation issues & related matters for employers & employees 2017 Last Updated: February 2017 This document was not

More information

2 National tax systems: Structure and recent developments

2 National tax systems: Structure and recent developments France Structure and development of tax revenues Table FR.1: Tax Revenue (% of GDP) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Ranking Revenue (billion euros) A. Structure by type of tax

More information

U.S. Taxation of Americans Abroad

U.S. Taxation of Americans Abroad GLOBAL MOBILITY SERVICES U.S. Taxation of Americans Abroad kpmg.com U.S. taxation of Americans abroad The following information is not intended to be written advice concerning one or more federal tax matters

More information

Overview of Individual Taxation in Switzerland

Overview of Individual Taxation in Switzerland Overview of Individual Taxation in Switzerland 1. Territoriality / Competent Authority Swiss income taxes are in general regulated by federal tax law (FTL) and 26 cantonal tax laws. However, all cantonal

More information

Global Mobility Services: Taxation of International Assignees - Egypt

Global Mobility Services: Taxation of International Assignees - Egypt www.pwc.com/m1/en Global Mobility Services: Taxation of International Assignees - Egypt Taxation issues & related matters for employers & employees 2016/17 Last Updated: March 2017 This document was not

More information

Global Mobility Services: Taxation of International Assignees - Ghana

Global Mobility Services: Taxation of International Assignees - Ghana www.pwc.com/gh/en Global Mobility Services: Taxation of International Assignees - Ghana Taxation issues & related matters for employers & employees 2017 Last Updated: March 2017 This document was not intended

More information

Switzerland. Investment basics

Switzerland. Investment basics Switzerland Diego Weder Director Tel: +1 212 492 4432 diweder@deloitte.com Investment basics Currency Swiss Franc (CHF) Foreign exchange control restrictions are imposed on the import or export of capital.

More information

International Tax Singapore Highlights 2018

International Tax Singapore Highlights 2018 International Tax Singapore Highlights 2018 Investment basics: Currency Singapore Dollar (SGD) Foreign exchange control There are no significant restrictions on foreign exchange transactions and capital

More information

TAX RETURN FORM A Income tax Premiums A.O.V./A.W.W./A.V.B.Z.

TAX RETURN FORM A Income tax Premiums A.O.V./A.W.W./A.V.B.Z. 2016 TAX RETURN FORM A Income tax Premiums A.O.V./A.W.W./A.V.B.Z. I. Issue: January 1 st, 2017 For tax payers living on Sint Maarten Date of: Fiscal year January 1 st, 2016 to December 31 st, 2016 II.

More information

Global Mobility Services: Taxation of International Assignees Taiwan

Global Mobility Services: Taxation of International Assignees Taiwan http://www.pwc.tw/en.html Global Mobility Services: Taxation of International Assignees Taiwan People and Organisation Global Mobility Country Guide (Folio) Last Updated: August 2016 This document was

More information

International Tax Italy Highlights 2018

International Tax Italy Highlights 2018 International Tax Italy Highlights 2018 Investment basics: Currency Euro (EUR) Foreign exchange control There are no foreign exchange controls or restrictions on repatriating funds. Residents and nonresidents

More information

Global Mobility Services: Taxation of International Assignees Kenya

Global Mobility Services: Taxation of International Assignees Kenya www.pwc.com/ke/en Global Mobility Services: Taxation of International Assignees Kenya People and Organisation Global Mobility Country Guide (Folio) Last Updated: May 2018 This document was not intended

More information

GLOBAL MOBILITY ALERT February 2016

GLOBAL MOBILITY ALERT February 2016 GLOBAL MOBILITY ALERT February 2016 About Mazars Mazars is an international, integrated and independent organisation, specialising in audit, accounting, and tax, legal and advisory services. We rely on

More information

Global Mobility Services Taxation of International Assignees - Israel

Global Mobility Services Taxation of International Assignees - Israel www.pwc.com/il Global Mobility Services Taxation of International Assignees - Israel People and Organisation Global Mobility Country Guide 2016 Last updated: June 2016 This document was not intended or

More information

GES NewsFlash Belgium - New tax measures for personal income

GES NewsFlash Belgium - New tax measures for personal income Deloitte Tax LLP Global Employer Services GES NewsFlash Belgium - New tax measures for personal income August 4, 2011 In this issue: Exemption from tax return filing obligation in Belgium Part year residence

More information

International Tax Ukraine Highlights 2018

International Tax Ukraine Highlights 2018 International Tax Ukraine Highlights 2018 Investment basics: Currency Ukrainian Hryvnia (UAH) Foreign exchange control Only local currency generally may be used in business transactions between residents.

More information

Ideally your contribution should be made as soon as possible in the year in order to shelter the investment income from tax.

Ideally your contribution should be made as soon as possible in the year in order to shelter the investment income from tax. Maximize RRSP Contributions. You should make your maximum RRSP contribution while you are working. You will get a tax deduction now at your current tax rate and you will be able to take the money out later

More information

Preparing 2018 Individual Income Tax Returns

Preparing 2018 Individual Income Tax Returns Preparing 2018 Individual Income Tax Returns Published and Distributed by The CPE Store, Inc. www.cpestore.com Module 1 Chapters 1-4 Chapter 1 Filing Information... 1 Learning Objectives... 1 Introduction...

More information

Tax Equalisation and Tax Protection. Date: 15 March 2016

Tax Equalisation and Tax Protection. Date: 15 March 2016 Tax Equalisation and Tax Protection Date: 15 March 2016 Different Tax Policies Laissez Faire The expatriate is responsible for his own taxes in the home and host countries. The expatriate can be in a better

More information

Mobility matters The essential UK tax guide for individuals coming to the UK on assignment.

Mobility matters The essential UK tax guide for individuals coming to the UK on assignment. www.pwc.co.uk Mobility matters The essential UK tax guide for individuals coming to the UK on assignment. December 2017 Contents 1 Overview of the UK tax system 1.1 What is meant by the United Kingdom

More information

Western University Faculty Income Tax Presentation

Western University Faculty Income Tax Presentation Western University Faculty Income Tax Presentation Presented by: Stephanie Hall Jeff Hood Diane Wood March 31, 2016 entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks

More information

Global Mobility Services: Taxation of International Assignees - Malawi

Global Mobility Services: Taxation of International Assignees - Malawi www.pwc.com/mw/en Global Mobility Services: Taxation of International Assignees - Malawi Taxation issues & related matters for employers & employees 2017/18 Last Updated: June 2018 This document was not

More information

Preparing 2016 Individual Income Tax Returns

Preparing 2016 Individual Income Tax Returns Preparing 2016 Individual Income Tax Returns Published and Distributed by The CPE Store, Inc. www.cpestore.com Module 1 Chapters 1-4 Chapter 1 Filing Information... 1 Learning Objectives... 1 Introduction...

More information

The Global Mobility. Top Ten issues for tax directors to think about. Contents

The Global Mobility. Top Ten issues for tax directors to think about. Contents www.pwc.ch The Global Mobility Top Ten issues for tax directors to think about Contents 01. 02. 03. 04. 05. 06. 07. 08. 09. 10. Cross-border employment structures p2 Enterprise level tax risks p2 Frequent

More information

INTRODUCTION. Situations should be viewed separately based on specific facts of each scenario.

INTRODUCTION. Situations should be viewed separately based on specific facts of each scenario. TAX FACTS 2018 CONTENTS INTRODUCTION... 3 PERSONAL INCOME TAX... 4 CORPORATION TAX... 8 SOCIAL INSURANCE... 12 SPECIAL CONTRIBUTION FOR DEFENCE... 13 INTELLECTUAL PROPERTY... 16 VALUE ADDED TAX... 18 CAPITAL

More information

Global Mobility Services: Taxation of International Assignees - Zambia

Global Mobility Services: Taxation of International Assignees - Zambia www.pwc.com/zm/en Global Mobility Services: Taxation of International Assignees - Zambia Taxation issues & related matters for employers & employees 2018 Last Updated: May 2018 This document was not intended

More information

International Tax Colombia Highlights 2018

International Tax Colombia Highlights 2018 International Tax Colombia Highlights 2018 Investment basics: Currency Colombian Peso (COP) Foreign exchange control Foreign exchange that is to be used for foreign direct investment may enter the country

More information

BUDGET 2019 TAX GUIDE

BUDGET 2019 TAX GUIDE BUDGET 2019 TAX GUIDE 1 This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2019/20. INCOME TAX: INDIVIDUALS AND TRUSTS

More information

International Tax Indonesia Highlights 2018

International Tax Indonesia Highlights 2018 International Tax Indonesia Highlights 2018 Investment basics: Currency Indonesian Rupiah (IDR) Foreign exchange control The rupiah is freely convertible. However, approval of Bank Indonesia (the central

More information

International Tax Malta Highlights 2018

International Tax Malta Highlights 2018 International Tax Malta Highlights 2018 Investment basics: Currency Euro (EUR) Foreign exchange control No Accounting principles/financial statements IAS/IFRS/General Accounting Principles for Small and

More information

This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2015/16.

This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2015/16. BUDGET2015 TAX GUIDE This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2015/16. INCOME TAX: INDIVIDUALS AND TRUSTS Tax

More information

Film Financing and Television Programming: A Taxation Guide

Film Financing and Television Programming: A Taxation Guide Film Financing and Television Now in its seventh edition, KPMG LLP s ( KPMG ) Film Financing and Television (the Guide ) is a fundamental resource for film and television producers, attorneys, tax executives,

More information

SARS Tax Guide 2014 / 2015

SARS Tax Guide 2014 / 2015 This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2014/15. SARS Tax Guide 2014 / 2015 INCOME TAX: INDIVIDUALS AND TRUSTS

More information

Guide to. Personal Income Tax Return 2015 (ภ.ง.ด.90) For taxpayers who received income not only from employment

Guide to. Personal Income Tax Return 2015 (ภ.ง.ด.90) For taxpayers who received income not only from employment Guide to Personal Income Tax Return 2015 (ภ.ง.ด.90) For taxpayers who received income not only from employment Bureau of Legal Affairs, Revenue Department, Bangkok Contents WHAT S NEW FOR TAX YEAR 2015?...

More information

Working & Living in Germany 2017 Moving together. Making tomorrow. A brief introduction to tax, social security, immigration and employment law

Working & Living in Germany 2017 Moving together. Making tomorrow. A brief introduction to tax, social security, immigration and employment law Working & Living in Germany 2017 Moving together. Making tomorrow. A brief introduction to tax, social security, immigration and employment law Individual taxation 4 Social Security 8 Immigration 11 Employment

More information

Global Mobility Services: Taxation of International Assignees - Swaziland

Global Mobility Services: Taxation of International Assignees - Swaziland www.pwc.com/sz/en Global Mobility Services: Taxation of International Assignees - Swaziland People and Organisation Global Mobility Country Guide (Folio) Last Updated: June 2018 This document was not intended

More information

EXPATRIATE TAX GUIDE. Taxation of income from employment in the EU & EEA

EXPATRIATE TAX GUIDE. Taxation of income from employment in the EU & EEA EXPATRIATE TAX GUIDE Taxation of income from employment in the EU & EEA Poland 2016 CONTENTS* 2 Austria 4 Belgium 6 Bulgaria 8 Croatia 10 Cyprus 12 Czech Republic 14 Denmark 16 Estonia 18 Finland 20 France

More information

International Tax Taiwan Highlights 2018

International Tax Taiwan Highlights 2018 International Tax Taiwan Highlights 2018 Investment basics: Currency Taiwan Dollar (NTD) Foreign exchange control Foreign exchange transactions are administered by the central bank. A limit of USD 50 million

More information

A3.01: INCOME TAX AND NI

A3.01: INCOME TAX AND NI A3.01: INCOME TAX AND NI SYLLABUS Income tax rates and application Availability of allowances Rates of tax relief on allowances Age Allowance Child Tax Credit Self-employed taxation Due dates for tax Self-assessment

More information

Expats/Inpats: Working Across Borders

Expats/Inpats: Working Across Borders Expats/Inpats: Working Across Borders Annick Nguessan 23 October 2015 International Tax Series Agenda & Objectives Introduction Types of assignments Impact of Expatriates/Inpatriates on employer U.S. taxation

More information

International Tax Thailand Highlights 2018

International Tax Thailand Highlights 2018 International Tax Thailand Highlights 2018 Investment basics: Currency Thai Baht (THB) Foreign exchange control Repatriation payments may not be made in THB, but may be made in any other currency. An exception

More information

International Tax Russia Highlights 2019

International Tax Russia Highlights 2019 International Tax Updated January 2019 Recent developments: For the latest tax developments relating to Russia, see Deloitte tax@hand. Investment basics: Currency Russian rouble (RUB) Foreign exchange

More information

International Tax Malta Highlights 2019

International Tax Malta Highlights 2019 International Tax Updated January 2019 Recent developments: For the latest tax developments relating to Malta, see Deloitte tax@hand. Investment basics: Currency Euro (EUR) Foreign exchange control No

More information

Emigration from Canada: Tax Implications

Emigration from Canada: Tax Implications Emigration from Canada: Tax Implications Introduction Liability for tax under the Canadian income tax system is based on residency. Neither the concept of residency, nor the notion of termination of Canadian

More information

Long Term Assignment (LTA) Policy

Long Term Assignment (LTA) Policy Long Term Assignment (LTA) Policy 1 Long Term Assignment (LTA) Policy CONTENTS 1. Introduction 1.1. Policy Statement 5 1.2. Objectives 5 1.3. Assignment Duration 5 1.4. Scope 6 1.5. Employment 6 1.6. Governing

More information

Contents. Application. INCOME TAX ACT Determination of an Individual s Residence Status

Contents. Application. INCOME TAX ACT Determination of an Individual s Residence Status NO.: IT-221R3 (Consolidated) DATE: See Bulletin Revisions section SUBJECT: REFERENCE: INCOME TAX ACT Determination of an Individual s Residence Status Sections 2 and 250 (also sections 114, 115, 128.1

More information

Kenya. Individual Taxation. Abbreviations. References. Latest Information: Author Catherine Mutava

Kenya. Individual Taxation. Abbreviations. References. Latest Information: Author Catherine Mutava Kenya Individual Taxation Author Catherine Mutava Latest Information: This chapter is based on information available up to 4 October 2017. Please find below the main changes made to this chapter up to

More information

Global Mobility Services: Taxation of International Assignees - Gabon

Global Mobility Services: Taxation of International Assignees - Gabon http://www.pwc.com/ga/en/index.jhtml Global Mobility Services: Taxation of International Assignees - Gabon Taxation issues & related matters for employers & employees 2015 Last Updated: October 2015 This

More information

International Tax Latvia Highlights 2019

International Tax Latvia Highlights 2019 International Tax Updated January 2019 Investment basics: Currency Euro (EUR) Foreign exchange control No Accounting principles/financial statements National standards (following IAS) and IFRS. Financial

More information

Duke Tax Policy Duke Kunshan Effective Date: January 2013 (Initially Recorded: August 2016)

Duke Tax Policy Duke Kunshan Effective Date: January 2013 (Initially Recorded: August 2016) Duke Kunshan University Support Unit Office of the Provost Finance and Administration 127 Allen Building Box 90004 Durham, NC 27708 Telephone: (919) 684-6792 DukeKunshanSupport@duke.edu Effective Date:

More information

Guide to. Personal Income Tax Return Half Year 2017 (ภ.ง.ด.94) For taxpayers who received income under Section 40(5)-(8) of the Revenue Code

Guide to. Personal Income Tax Return Half Year 2017 (ภ.ง.ด.94) For taxpayers who received income under Section 40(5)-(8) of the Revenue Code Guide to Personal Income Tax Return Half Year 2017 (ภ.ง.ด.94) For taxpayers who received income under Section 40(5)-(8) of the Revenue Code Bureau of Legal Affairs, Revenue Department, Bangkok Contents

More information

LUMP SUM TAXATION IN SWITZERLAND, CANTON TICINO

LUMP SUM TAXATION IN SWITZERLAND, CANTON TICINO Steimle & Partners Consulting Sagl Tax & Legal Consultants Via Dogana Vecchia 2 / Via Nassa CH-6900 Lugano Tel. +41 91 913 99 00 Fax +41 91 913 99 09 info@steimle-consulting.ch www.steimle-consulting.ch

More information

Global Mobility Services: Taxation of International Assignees Country Thailand

Global Mobility Services: Taxation of International Assignees Country Thailand http://www.pwc.com/th/en Global Mobility Services: Taxation of International Assignees Country Thailand People and Organisation Global Mobility Country Guide 2016 Last updated: December 2016 This document

More information

Impact of 2017 Tax Act on Individuals. From The Editors

Impact of 2017 Tax Act on Individuals. From The Editors Impact of 2017 Tax Act on Individuals From The Editors On December 22, 2017, President Trump signed into law the most extensive tax legislation since 1986, resulting in sweeping changes to the tax system,

More information

Tax & Legal Alert. Tax and exercise duty law amendments as of Personal Income Tax

Tax & Legal Alert. Tax and exercise duty law amendments as of Personal Income Tax 2010. December Tax & Legal Alert Tax and exercise duty law amendments as of 2011 Auditing and Consulting Phone: +36.1.375.4921 On 16 th November 2010, the Hungarian Parliament approved the packet of amendments

More information

GUIDE ON INCOME TAX AND THE INDIVIDUAL (2010/11)

GUIDE ON INCOME TAX AND THE INDIVIDUAL (2010/11) SOUTH AFRICAN REVENUE SERVICE GUIDE ON INCOME TAX AND THE INDIVIDUAL (2010/11) Another helpful guide brought to you by the South African Revenue Service Foreword Guide on Income Tax and the Individual

More information

International Tax Taiwan Highlights 2019

International Tax Taiwan Highlights 2019 International Tax Updated January 2019 Recent developments: For the latest tax developments relating to Taiwan, see Deloitte tax@hand. Investment basics: Currency Taiwan Dollar (NTD) Foreign exchange control

More information

International Tax Sweden Highlights 2019

International Tax Sweden Highlights 2019 International Tax Updated January 2019 Recent developments: For the latest tax developments relating to Sweden, see Deloitte tax@hand. Investment basics: Currency Swedish Krona (SEK) Foreign exchange control

More information

Introduction to International Payroll and Reporting. November 30, 2017

Introduction to International Payroll and Reporting. November 30, 2017 Introduction to International Payroll and Reporting November 30, 2017 Instructions Dialing instructions will appear once you connect on the web. 15 minute Q & A at end of session. Use the chat feature

More information

2 National tax systems: Structure and recent developments

2 National tax systems: Structure and recent developments 2 National tax systems: Structure and recent developments United Kingdom Structure and development of tax revenues Table UK.1: Tax Revenue (% of GDP) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

More information

Dutch tax and social security Update for internationally mobile employees including 30%-ruling

Dutch tax and social security Update for internationally mobile employees including 30%-ruling 8 February 2018 Dutch tax and social security Update for internationally mobile employees including 30%-ruling Kees de Graaf kees.de.graaf@bdo.nl Expatriate tax services and emploment tax services Robin

More information

International Tax Slovakia Highlights 2019

International Tax Slovakia Highlights 2019 International Tax Updated January 2019 Investment basics: Currency Euro (EUR) Foreign exchange control No restrictions are imposed on the import or export of capital, and repatriation payments may be made

More information

EXPAT TAX.A TO Z. ASSETS Anything you own that has value is considered an asset. Bank accounts,

EXPAT TAX.A TO Z. ASSETS Anything you own that has value is considered an asset. Bank accounts, EXPAT TAX.A TO Z US tax law is difficult enough to understand without the added burden of trying to understand the overseas side of things. Here is an explanation of expat key words and phrases that will

More information

FOREIGN NATIONAL TAX PROCEDURES GUIDE FOR DEPARTMENTS. Document created and modified by Financial Services Revised February 8, 2018

FOREIGN NATIONAL TAX PROCEDURES GUIDE FOR DEPARTMENTS. Document created and modified by Financial Services Revised February 8, 2018 FOREIGN NATIONAL TAX PROCEDURES GUIDE FOR DEPARTMENTS Document created and modified by Financial Services Revised February 8, 2018 Table of Contents Pages Introduction 1 Definition of Terms 2-5 Frequently

More information

International Tax Luxembourg Highlights 2018

International Tax Luxembourg Highlights 2018 International Tax Luxembourg Highlights 2018 Investment basics: Currency Euro (EUR) Foreign exchange control No Accounting principles/financial statements Luxembourg GAAP/IFRS. Financial statements must

More information

International Tax South Africa Highlights 2018

International Tax South Africa Highlights 2018 International Tax South Africa Highlights 2018 Investment basics: Currency South African Rand (ZAR) Foreign exchange control Exchange control is administered by the South African Reserve Bank, which has

More information

Presentation by Stephen Turley March 2018

Presentation by Stephen Turley March 2018 Swiss Tax and Social Security system Presentation by Stephen Turley March 2018 Agenda Introduction to the Swiss taxation system Swiss tax residency and filing obligation Swiss income taxation Swiss social

More information

Index. A AMT, see Alternative minimum tax Alternative minimum tax, 87 Arrival date, 49 50

Index. A AMT, see Alternative minimum tax Alternative minimum tax, 87 Arrival date, 49 50 Index A AMT, see Alternative minimum tax Alternative minimum tax, 87 Arrival date, 49 50 B Board and lodging, 95 remote work site exception, 96 Business immigrant applicants, 8 entrepreneurs, 8 investors,

More information

Q&A - EMPLOYEE EDITION Employment. in the Netherlands. Editor Hans van Ruiten. A guidebook for employers and their international employees

Q&A - EMPLOYEE EDITION Employment. in the Netherlands. Editor Hans van Ruiten. A guidebook for employers and their international employees Q&A - EMPLOYEE EDITION 2017 Employment in the Netherlands Editor Hans van Ruiten A guidebook for employers and their international employees Q&A - EMPLOYMENT IN THE NETHERLANDS THE EMPLOYEE A guidebook

More information

RSM InterTax Tax Insights February Belgian corporate income tax reform

RSM InterTax Tax Insights February Belgian corporate income tax reform RSM InterTax Tax Insights February 2018 Belgian corporate income tax reform Most of the measures announced by the 2017 Belgian summer agreement were finally adopted in the Law of 25 December 2017 on the

More information

2 National tax systems: Structure and recent developments

2 National tax systems: Structure and recent developments Ireland Structure and development of tax revenues Table IE.1: Tax Revenue (% of GDP) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Ranking Revenue (billion euros) A. Structure by type of

More information

INCOME TAX: INDIVIDUALS AND TRUSTS

INCOME TAX: INDIVIDUALS AND TRUSTS The SARS Tax Guide: A synopsis of the most important tax, duty and levy related information for 2015/16. INCOME TAX: INDIVIDUALS AND TRUSTS Tax rates (year of assessment ending 29 February 2016) Individuals

More information

Income Tax & Social Security in the Netherlands - Employers and Employees

Income Tax & Social Security in the Netherlands - Employers and Employees Income Tax & Social Security in the Netherlands - Employers and Employees - 2017 Table of Content Introduction 1. Personal Income Tax 1.1. Rates 2017 1.2. Taxable income 1.3. Investments and savings 1.4.

More information

Global Mobility Services: Taxation of International Assignees - Namibia

Global Mobility Services: Taxation of International Assignees - Namibia www.pwc.com/na/en Global Mobility Services: Taxation of International Assignees - Namibia Taxation issues & related matters for employers & employees 2018 Last Updated: May 2018 This document was not intended

More information

Global Mobility Services: Taxation of International Assignees - Senegal

Global Mobility Services: Taxation of International Assignees - Senegal www.pwc.com/sn/en Global Mobility Services: Taxation of International Assignees - Senegal People and Organisation Global Mobility Country Guide (Folio) Last Updated: June 2018 This document was not intended

More information

US Tax Information for Diplomatic Families at the Swiss Embassy

US Tax Information for Diplomatic Families at the Swiss Embassy US Tax Information for Diplomatic Families at the Swiss Rick Ward LLC October 18, 2018 Disclosure This presentation has been prepared by LLC. The information in this presentation is current as of October

More information

2018 CITY OF GRAYLING INDIVIDUAL INCOME TAX INSTRUCTIONS For use by individual residents, part-year residents and nonresidents

2018 CITY OF GRAYLING INDIVIDUAL INCOME TAX INSTRUCTIONS For use by individual residents, part-year residents and nonresidents City of Grayling Income Tax Department 1020 City Blvd PO BOX 549 Grayling, Michigan 49738 Form GR-1040 2018 CITY OF GRAYLING INDIVIDUAL INCOME TAX INSTRUCTIONS For use by individual residents, part-year

More information