Global Mobility Tax and Payroll Services

Transcription

1 Global Mobility Tax and Payroll Services

2 INTRODUCTION From our network of global offices Taxback International provides a full suite of global mobility tax and international payroll services to ensure compliance and reduce costs for companies who operate across borders. We utilize cutting edge technology and in-house global tax expertize to deliver a market-leading solution. CONTENTS Introduction to Global Mobility Tax Global Mobility Tax Services Global Mobility Tax Case Study Introduction to International Payroll International Payroll Services International Payroll Case Study Our Technology Contact Details

3 GLOBAL MOBILITY TAX 3

4 INTRODUCTION TO GLOBAL MOBILITY TAX As companies internationalize across markets, engagement of a single provider for global mobility services brings multiple benefits. A global workforce can challenge HR and Finance departments to navigate unfamiliar landscapes beset with diverse taxation, payroll and compliance obligations. The challenge of ensuring compliance across all jurisdictions can lead to a rise in costs. For that reason, companies often look for a global mobility solution that will manage costs and shoulder the added administrative burden that can often ensue. TAXBACK INTERNATIONAL IS THE PROVIDER OF CHOICE FOR MANY COMPANIES TRADING ACROSS BORDERS. CHALLENGES GLOBAL MOBILITY TAX CAN BE COMPLEX AND TIME CONSUMING 1. Compliance Ensuring multi-jurisdictional compliance around local employment tax rules for assignees to avoid financial penalties 2. Management Ensuring that company policy for assignees is consistent on a global basis. Difficulties can arise as a result of cultural and language differences when dealing with multiple providers 3. Reporting Different reporting structures from multiple providers in each jurisdiction can cause confusion and timing headaches 4. Technology With a mobile workforce it is critical to have tracking technology in place to ensure accurate compliance is maintained in each jurisdiction 4

5 SERVICES SIMPLIFYING TAX, IMPROVING COMPLIANCE We offer a multi-faceted service and can look after the following pre-assignment and ongoing services. PRE ASSIGNMENT SERVICES Social Security Applications Applications to Tax Authorities Cross-Border Relief Claims Employee Tax Briefings Company Policy Documents Assignment Remuneration Advice Equity Remuneration Advice ONGOING SERVICES Home and Host Country Personal Tax Returns Foreign Tax Credit Claims Hypothetical Tax Calculations Tax Equalization, Calculations and Advice Shadow Payroll 5

6 BENEFITS OF GLOBAL MOBILITY TAX SERVICE Specialist Tax Advice: Our global team of tax specialists provide advice on the taxation requirements of whatever jurisdiction(s) you are expanding into. Full Compliance: Compliance is the cornerstone of our global mobility service. We ll ensure that you meet your obligations with international tax laws and avoid fines or penalties associated with non-compliance. One Point of Contact: You ll have one Account Manager no matter how many different services you need. Tailored Service: We know that one size doesn t fit all so we ll find out what your exact needs are before we recommend a service. Reporting: Consolidated reporting across multiple jurisdictions available in a single report through our GM Reporter. Technology: Our cutting We edge, do easy-to-use not have the technology in house ensures expertise full compliance and transparent to recover reporting. VAT on Travel and Expenses Reduced costs: We ll minimize your tax liability by ensuring your mobile staff is availing of all applicable reliefs and reductions. 6

7 GLOBAL MOBILITY TAX CASE STUDY CASE STUDY ENERGY SECTOR COMPANY A leading semi-state energy provider engaged Taxback International, through a tender process, to manage the international payroll for staff on secondment. SERVICE PROVIDED Tax equalization documentation Assignee briefing sessions Social security applications Withholding tax applications (e.g. PAYE exclusion orders) Operation of actual and shadow payrolls in multiple jurisdictions Preparation and filing of employer tax returns Preparation of home and host country personal tax returns for employees Assignee Destinations USA Ireland United Kingdom Malaysia Turkey Bahrain Singapore South Africa Ghana Botswana 7

8 8 INTERNATIONAL PAYROLL SERVICES

9 INTRODUCTION TO INTERNATIONAL PAYROLL SERVICES Payroll services can become complex when a company has staff operating within several different tax jurisdictions. By outsourcing your payroll, you ll have one less thing to think about. Our international payroll service will take care of all the reporting and legislation requirements providing guaranteed compliance and peace of mind. Our dedicated payroll team will be able to tailor the right and most cost-effective payroll solution for you. CHALLENGES 1. Consolidation and Management Managing multiple providers in different countries/time zones and languages can prove to be hugely time consuming for internal HR/Payroll staff 2. Compliance and Delivery Ability to provide guaranteed compliance in multiple jurisdictions and ensure on-time delivery for both local and expat payrolls 3. Interface with Current HR Systems Ability to provide reporting directly to the company s internal HR system 4. Payment in Multiple currencies Ability to pay staff and local authorities in multiple currencies through a single regulated provider 9

10 INTERNATIONAL PAYROLL SERVICE 1 Worldwide payroll calculations Multiple jurisdiction service Payslips for all employees Choice of payment frequencies Tax and social security deductions calculation and advice Coordination of tax and social security payments Employer wage tax return reports and submission Updates on rate changes for pensions and social security contributions Payment of net pay into the employees bank accounts Payment of Directors fees Year-end documentation supplied to employees Advice on relocation costs and subsistence payments 10

11 BENEFITS OF INTERNATIONAL PAYROLL SERVICE ACCOUNT MANAGER: Manage all of your international payroll through a single point of contact. DELIVERY: Through our global network of offices and expertise we can guarantee a compliant and on- time delivery solution. TECHNOLOGY: Our in-house technology experts can help link your internal payroll solution to your current HR system. PAYMENTS: Streamlined payment process according to your chosen frequency. PAYROLL PROCESS Taxback International provides communication to employee confirming payment made and issues payslip to employee. HOW IT WORKS 1. Provide employee salary data to Taxback International on an agreed date. 2. Our account manager organises the calculations in each jurisdiction. 3. We provide you with payroll reports, employer documentation and a copy of employee payslips. 4. Taxback International arranges the transfer of funds to relevant parties. 5. Taxback International provides communication to employee confirming payment made and issues payslip to employee. 6. Taxback International provides monthly report to your company of all payments made per jurisdiction. 11

12 CASE STUDY UK FINANCIAL PLC This company is a leading organization in the capital markets industry, providing software products and technical consulting services for a diverse range of companies. The company engaged Taxback International to assist with the employer registrations and payroll set up in a number of countries into which they had expanded, along with managing the monthly payroll in each location. SERVICE PROVIDED Employer and employee tax, payroll and social security obligations advice Finance & HR briefings on international taxation and payroll compliance Operation of monthly payroll in multiple jurisdictions Operation of monthly shadow payroll in host locations Preparation of social security calculations and returns Preparation and filing of monthly, quarterly and annual employer returns Preparation of home and host country personal tax returns for internationally mobile employees Tax equalization calculations Consolidated currency payments to employees and issuing of their payslips Consolidated currency payments to authorities. Assignee Destinations Canada Ireland UK Singapore Japan Australia US Sweden Hong Kong 12

13 OUR TECHNOLOGY GLOBAL MOBILITY TRACKER Taxback International s Global Mobility Tracker is a purpose-built online tool to capture, log and report data relating to employees country of residence, working country and working type. The application has been optimized to operate on multiple devices and operating systems making it convenient and accessible for the user. We introduced our Global Mobility Tracker in response to feedback from clients facing a challenge in reporting the movements of staff on secondment. Captures all employee movements across different jurisdictions (country of residence, work country) Simplifies the tracking process for both employer and employees Offers an easy-to-use platform and user guide Is available for multiple devices and interfaces Hosts user data in a secure and robust system Features an advanced admin panel which enables the quick upload of employee data. 13

14 GLOBAL MOBILITY REPORTER Robust reporting is one of the cornerstones of the software. The Global Mobility Tracker comes with a suite of user and administrator level reports and built-in reminders. The GM Reporter provides employers with an immediate online insight into assignees work profiles and movements. The software offers a wide range of downloadable reports including: International Payroll Report this outlines salaries, overtime, bonuses, pension, health insurance etc. Tax Report this provides details on the monthly tax returns prepared. Country Summary Report - this shows the total number of days that a user spent in a particular country. Country of Employment Report this shows how many work days your employees have in a particular location within a specified time. Submission Report see when tracking details are being submitted and how up to date they are. 14

15 TAX AND PAYROLL TEAM Christine Keily Director of Tax and Payroll Christine Keily - has over 15 years experience in international taxation, social security and payroll. She is an AITI Chartered Tax Adviser (CTA) and an associate of the Irish Payroll Association. She has also been issued with a Principles of International Taxation certificate by CIOT. Christine trained in KPMG and prior to moving to Taxback International was a manager in the Global Employer Services (GES) department in Deloitte specialising in the area of expatriate tax and social security compliance and consultancy for multinational companies. Christine has extensive experience in the management of expatriate tax compliance and dealing with tax issues arising in respect of compliance and planning for a portfolio of multinational companies across different industry sectors including Financial Services, Pharmaceutical, Manufacturing and Consumer Business. Barry Flanagan Senior Tax Manager Barry Flanagan - is a qualified Chartered Accountant, Chartered Tax Consultant and qualified Chartered Company Secretary. Prior to joining Taxback International, Barry trained in the Tax department of Deloitte s Dublin Office. Barry specialised in Global Mobility, having been a member of the Global Employer Services team at Deloitte. Barry also acquired significant experience in both employment taxes and compensation and benefits, working with diverse clients across a range of industry sectors, including market-leading multinationals in technology, financial services, software and global alcoholic beverages. Barry has over seven years experience advising individuals and corporates on tax compliance and efficient delivery of remuneration to employees and directors, both domestically and globally. Stephen Kelly - has over 14 years experience in UK taxation, with specialised experience in personal tax, social security and payroll issues. Stephen joined the team in 2013 with a wealth of experience he had gathered over the years through his management of expatriate tax issues for all sizes of companies. Previously Stephen worked as a Manager in the tax department of a Top 8 UK accountancy practice based in central London. Stephen is a member of the Association of Taxation Technicians (ATT) and has a diploma in payroll management. Stephen Kelly UK Tax Manager Iliyan Tzakov - is a US Certified Public Accountant (CPA) licensed in the state of Texas with a Masters in Accounting and Taxation from Southern Methodist University in Dallas, Texas. He has over 10 years of experience advising international clients on a range of US tax issues. Iliyan Tzakov US Tax Manager Before joining Taxback International, Iliyan spent 6 years at the US Tax Desk of Deloitte in Montreal, Canada, where he specialised in US inbound tax structuring for private and public companies pursuing business in the United States. Mary O Connor - has over 12 years experience in the payroll industry. Before joining Taxback International, she spent 10 years with Deloitte, specialising in outsourced payroll services to domestic and expatriate markets. Mary has assisted a broad range of clients from SME s to large multinationals. She holds a Certificate in Payroll and a Diploma in Payroll Management. Mary O Connor Global Payroll Manager 15

16 TAXBACK INTERNATIONAL HEADQUARTERS 14 ST STEPHENS GREEN, DUBLIN IRELAND T: F: E: Ruairi Kelleher Commercial Director Mark Graham Commercial Manager AWARDS