Europe

CYPRUS Lynn Tarrier ABC Business Centre Charalambou Mouskou Paphos 8010 T: +357 26 818210
Italy Lisa Solda Via Euganea 151/E, Appartamento n. 16, secondo piano, Selvazzano Dentro (Padova) T: + 39 049 0982160
UK – London Rosalind Smith 41 Corsham Street, London, N1 6DR T: +44 (0)203 051 2761
UK – York Kelliney Vickers 9 Franklins Yard, Fossgate, York, North Yorkshire, YO1 9T T: +44 (0)1904 550530

The Americas

BRAZIL Alipio Silva T: +55 11 2749 0459
CANADA Kate Geluk T: +1 416 628 1570
COLOMBIA Fabio Molano T: +57 310 314 7568
LATAM Diana Diaz Martinez T: +57 313 445 1983
Panama Diana Diaz Martinez Torre 2000, Piso 43 Calle Punta Colon, Punta Pacifica Ciudad de Panama, Panama T: +507 216 8171

Asia

SINGAPORE Brandon Poon 5 Shenton Way, UIC Building #10-01, Singapore 068808 T: +65 9155 7130
UAE (Dubai) Imilee Buentipo 3606, Churchill Executive Tower Business Bay Dubai T: +971 (0)4 432 8528

Africa

KENYA Kimberly Leeuwner T: +27 (0)76 0342 160
SOUTH AFRICA Kimberley Leeuwner T: +27 (0)76 0342 160

Oceania

NEW ZEALAND Ashleigh Duncan T: +64 210 221 6962
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Europe

CYPRUS Lynn Tarrier ABC Business Centre Charalambou Mouskou Paphos 8010 T: +357 26 818210
Italy Lisa Solda Via Euganea 151/E, Appartamento n. 16, secondo piano, Selvazzano Dentro (Padova) T: + 39 049 0982160
UK – London Rosalind Smith 41 Corsham Street, London, N1 6DR T: +44 (0)203 051 2761
UK – York Kelliney Vickers 9 Franklins Yard, Fossgate, York, North Yorkshire, YO1 9T T: +44 (0)1904 550530

The Americas

BRAZIL Alipio Silva T: +55 11 2749 0459
CANADA Kate Geluk T: +1 416 628 1570
COLOMBIA Fabio Molano T: +57 310 314 7568
LATAM Diana Diaz Martinez T: +57 313 445 1983
Panama Diana Diaz Martinez Torre 2000, Piso 43 Calle Punta Colon, Punta Pacifica Ciudad de Panama, Panama T: +507 216 8171

Asia

SINGAPORE Brandon Poon 5 Shenton Way, UIC Building #10-01, Singapore 068808 T: +65 9155 7130
UAE (Dubai) Imilee Buentipo 3606, Churchill Executive Tower Business Bay Dubai T: +971 (0)4 432 8528

Africa

KENYA Kimberly Leeuwner T: +27 (0)76 0342 160
SOUTH AFRICA Kimberley Leeuwner T: +27 (0)76 0342 160

Oceania

NEW ZEALAND Ashleigh Duncan T: +64 210 221 6962
Global Tax, Payroll and Trade in 2018:

Global Tax, Payroll and Trade in 2018:

What’s New?

17 October 2017 Industry News Read Time - 2 minutes

Tax authorities are gearing up for 2018 with a series of updates, amendments and new inclusions to taxation laws and trade deals around the world. We’ve condensed some of the key learning points into a helpful guide to keep you abreast of the changes; read on below for a summary and sign up to our mailing list for the full facts and information that could affect your organization locally.

Vietnam

Vietnam’s Social Insurance Agency has announced new regulations on social, health and unemployment insurance contributions. The new rules stipulate certain circumstances in which SI-HI-UI must be paid, such as when taking on multiple labour contracts, or during early return from maternity leave. Additionally, the announcement underlines the types of remuneration that are should be included and excluded from monthly SI-HI-UI calculations, e.g. petrol and phone expenses (excluded). These regulations will come into play from 1st January 2018.

EU

VAT Reform – The European Commission has unveiled plans for the biggest reform of EU VAT rules in 25 years. The plans highlight four fundamental principles, or ‘cornerstones’ and announce a new definitive single EU VAT to be introduced by 2022, along with four ‘quick fixes’ to come into force by 2019. The reboot would improve, simplify and modernise the system for governments and businesses alike.

The proposed VAT reform would also make the system more robust and simpler to use for companies. The Commission wants a VAT system that helps European companies to reap all the benefits of the Single Market and to compete in global markets, and places focus on minimizing the possibility of cross-border VAT fraud which is used to raise funds for criminal organisations and terrorism.

Fair Taxation – EU Member States have formally given the go-ahead to new rules aimed at better resolution of tax disputes. The decision taken by EU finance ministers in Luxembourg will ensure that businesses and citizens can quickly and efficiently resolve tax-treaty interpretation disputes, and double taxation issues will be resolved in a timely manner.

USA

The Trump administration has released tax reform plans headlined as the ‘Unified Framework For Fixing Our Broken Tax Code’. Besides cutting headline tax rates, the framework would transfer the existing US ‘worldwide’ tax system to a territorial model in line with the majority of the world’s developed economies. At an international level, the framework recommends replacing the ‘existing, outdated worldwide tax system’ and also annuls or reduces various taxes for individuals, including the rate of taxation on business income for small businesses and sole proprietorships.

Malaysia and Thailand

The two countries have recently announced renewed co-operation on trade and investment along its borders, developing transportation logistics and industry. Thai government ministers are pushing forward with the Sadao-Padang Besar Special Economic Zone to generate local jobs in the South amid hopes that stability and economic development will be kickstarted by Malaysian investment in the area’s key industries.

Hungary

Hungarian tax authorities have introduced a series of recent amendments to tax law and social security contributions which will come into force in January 2018, affecting businesses and individuals alike. For the specific detail on the changes, please sign up to our mailing list or get in touch for a no-obligation callback.

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