Global developments
Download
1 / 26

Global Developments - PowerPoint PPT Presentation


  • 184 Views
  • Updated On :

Global Developments. Mike Pewton [email protected] Countries where there have never been any significant changes. Countries where there have been no recent significant changes. Countries where there have been recent changes. Global Trends.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Global Developments' - yannis


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Global developments l.jpg

Global Developments

Mike Pewton

[email protected]


Countries where there have never been any significant changes l.jpg
Countries where there have never been any significant changes


Countries where there have been no recent significant changes l.jpg
Countries where there have beenno recentsignificant changes



Global trends l.jpg
Global Trends

Securities Exchange controlsTax Other


Securities laws china l.jpg
Securities laws - China

  • Requirement to register plans with SAFE

    • 2 to 3 months

    • $5,000 to $6,000

    • Set up foreign currency account

    • Applies to ESPP and Options

    • No set guidelines

  • Current practice


Securities laws japan l.jpg
Securities laws - Japan

  • Before - Requirement to register plans with SEC where:

    • More than 50 persons: or

    • Less than 50 persons but for more than Yen 100 million

  • Now - Less than 50 persons there is no SEC filing required


Securities laws thailand l.jpg
Securities laws - Thailand

  • Before - Requirement to register plans with SEC where:

    • More than 35 persons: and

    • More than 20 billion Baht.

    • Didn’t apply to RSP or RSU

  • Now – May apply to RSU although SEC will deliver exemption

  • Plus Are you making annual filings for your option plans even where exempt?


Global trends9 l.jpg
Global Trends

Securities Exchange controlsTax Other


Exchange controls angola l.jpg
Exchange controls - Angola

  • Requirement to obtain bank permit if funds exceed $500,000

    • Bank Specific so up to the individual

    • Still a degree of uncertainty as to process


Exchange controls italy l.jpg
Exchange controls - Italy

  • Excon - Requirement to notify Bank of Italy if offer is more than Euro 500,000

    • Doesn’t apply to RSP or RSU

  • Plus Requirement to appoint Financial Intermediary

    • Doesn’t apply to RSP or RSU


Exchange controls russia l.jpg
Exchange controls - Russia

  • Still a great deal of confusion in Russia but it does now appear easier to purchase shares in employer and/or remit funds

  • Still need local advice


Exchange controls thailand l.jpg
Exchange controls - Thailand

  • Exchange controls allowances still allow employees to remit up to $100,000 per month for share purchase

  • Plus New regulations allow share purchases up to $1,000,000 per year


Global trends14 l.jpg
Global Trends

Securities Exchange controlsTax Other


Tax australia l.jpg
Tax - Australia

  • Payroll tax now likely to be payable o n share benefits in Victoria

  • Payable by employer on “wages” above Aus$ 550,000

  • Rate of 5.05%


Tax czech republic l.jpg
Tax - Czech Republic

  • Tax to be reduced on sale to 15% from 1 January 2008


Tax denmark l.jpg
Tax - Denmark

  • Recent decision confirms tax likely to be payable at the point that any share award can be valued (becomes unconditional)


Tax france l.jpg
Tax - France

  • Previously – No social security on share plans

  • Now Recent change indicates 10% social security payable by employer on grant of options/making of awards

  • 2.5% social security payable by employees on exercise of option/vesting of awards

  • Valuation of award at grant/award can be determined by company (irrevocably)


Tax india l.jpg
Tax - India

  • Fringe Benefit Tax payable by local company by December 15th

  • No tax for employee but can be passed on to employees

  • Payable in year option becomes exercisable/awards vest therefore needs to be valued

  • Use of a Class 1 Merchant bank to value


Tax taiwan l.jpg
Tax - Taiwan

  • Tax and withholding now required on all plans whether or not there is a recharge


Tax uk l.jpg
Tax - UK

  • End of tapered relief for business asset shares held for more than 2 years (10% rate)

  • From April 6th flat 18% rate.

  • Employees need to be aware of whether they should sell before April 6, 2008 or after


Tax usa l.jpg
Tax - USA

  • Extension of Section 409A deadline to December 31, 2008


Tax general l.jpg
Tax - General

  • Most tax years end 31 December

  • Tax rates should be reviewed on 1 January


Other l.jpg
Other

  • Estonia – Changes to the data privacy laws

  • France – Tightening in the enforcement of CNIL data Protection filings

  • EUPD developments and filings in Poland/Austria


Global updates l.jpg
Global Updates

  • Keep your eyes peeled

    • Service providers

    • GEO

    • NCEO

    • MyStockOptions

  • Regular checks



ad