News

The Government, through the Kenya Finance Act 2017/ 2018, revised the resident individual tax brackets and increased the monthly personal relief from KES. 1,280 to KES. 1,408 with effect from 1st January 2018. The tax bands and personal relief have been expanded by 10%. This is the second consecutive year that the bands have been expanded by this percentage. The expansion of income tax bands,...

Expatriate employees coming to work in the Netherlands under the highly skilled migrants procedure or as holder of a European Blue Card should meet certain salary criteria. For 2018, the salary criteria is set as follows:   Expatriate migrants of 30 years and older, Euro 4,404 gross per month excluding holiday allowance. Expatriate migrants younger than 30 years, Euro 3,229 gross per...

As of January 1, 2018, the salary criteria for expatriate employees is set as follows: The annual taxable salary for an employee should be at least Euro 37,296 (2017: EUR 37,000). The taxable salary for an employee with a master degree and who is younger than 30 years, should amount to at least Euro 28,350 (2017: 28,125). For scientific researchers, employees working in scientific education...

Brexit negotiators recently agreed phase 1 of the UK’s withdrawal from the European Union and included agreement on the social security position in their report. The intention appears to be for the UK to be treated as an EU Member State for social security purposes (i.e. the same position as Switzerland) and therefore for Regulations (EC) No 883/2004 and (EC) No 987/2009 to continue to apply...

Expatriates assigned from the Netherlands to China   Under this social security treaty, employees of the Netherlands who are assigned to China may remain subject to a part of the Dutch social security schemes for a maximum period of 60 months.  The social security Acts the expatriate may continue participate in the Netherlands are:   ·         the general Old Age Pensions Act (AOW)...

What are the conditions? Overseas Workday Relief applies to non-UK domiciled employees who have recently arrived in the UK or are returning to the UK after a significant period of non-UK residency. The following conditions must be satisfied: resident but not domiciled in the UK, remittance basis user for the tax year in which the duties are performed, duties of employment carried out wholly...

The Irish Revenue has this year recruited more than 100 additional staff to undertake audit and compliance activities.   Prior to his retirement as Finance Minister, Michael Noonan was asked to provide parliament with information on the Revenue staff resources allocated to tax audit and investigation activities.   Answering a written parliamentary question, Noonan said that the...

Tax Changes back on track for non-domiciled taxpayers (‘non-doms’)   The Finance Bill introduced in March 2017 provided for a number of changes to the tax legislation that were withdrawn after the general election was called. At that time, the Treasury confirmed there was no policy change and these provisions would be legislated at the first opportunity in the new Parliament: a further...

On January 19, 2017, the country launched a six-month amnesty during which taxpayers can pay a low eight percent tax rate on previously undeclared income held overseas on December 31, 2016, provided those funds are reinvested in Mexico. The preferential tax rate represents a significant reduction when compared with the 30 percent headline corporate tax rate and the top 35 percent individual...

The Swedish support scheme to small companies will amount to SEK 160 million (€ 16.35 million) over ten years. The aid will be granted through a reduction in the taxation of employee share options. In particular, employers will pay lower social security contributions, and employees will benefit from income tax relief when exercising their share options. Start-ups and small companies in Sweden...