By Lynne Harding, Senior Director, Knowledge Management
International Operations Update offers at look at some key developments that are likely to affect your business and international assignees. The May edition features selected articles from HSP OverseasConnect® on a range of tax, human resources, and regulatory matters.
Items of global interest this month include a discussion of the growing use of performance based incentive plans and an article on the
By Bob Lammey, HSP Senior Director Higher Education and Non-Profits
In higher education, just maintaining your position in the U.S. increasingly requires the ambitious offering of research and academic opportunities for your students and faculty abroad. In the past, international activities might mean setting up a modest study abroad program for your university’s undergraduates or increasing recruitment efforts through alumni networks abroad. Now, institutions like Duke and Yale are setting up dual and joint degree programs, designed for foreign students, in places like China and Singapore.
As the scope and complexity of overseas ventures increase, so too do financial risks and regulatory requirements. For university administrators, it can be difficult not only to
By Dafydd Williams, Director of Advisory Services, APAC
If your firm is eyeing global expansion, then chances are you’ve heard a lot about APAC, the Asia-Pacific region. Since the 1980s, the term has become commonplace in discussions of global business, finance, and geopolitics — and with good reason. The region encompasses much of the planet. Generally, the term refers to most of East Asia, Southeast Asia, the Pacific Islands, and Oceania. And, as if that weren’t big enough, countries as far-flung as Russia, Pakistan, Chile, and Canada fall under its banner in various contexts.
Why They’re Grouped Together
As the name suggests, the Asia Pacific designation was originally motivated by geography. If you want to divide the world’s
By Christina Caamano, HSP Director of Advisory Services, Americas
Last month, after stalling for six years in the Brazilian senate, the United States-Brazil Tax Information Exchange Agreement went into effect. If you’re doing business in Brazil or looking to expand there, this, on its face, is not especially exciting news. Basically, the agreement allows the two countries’ governments to share information regarding tax collection. In the short run, this will mean more government scrutiny and could cause some
By Rich de la Rosa, Director, Advisory Services, Americas
Brazil as an expansion target isn’t as hot as it was a little over a year ago, but it’s still a market of interest for many companies. As the country readies itself for its dual coming out to the world — hosting the 2014 World Cup and the 2016 Olympics — many American businesses have discovered that Brazil is fertile ground in a time of stagnant growth at home: One-third of Fortune 500 companies invest directly here already. According to World Bank estimates from January, the country’s economy is expected to grow 3 percent in 2013 — twice the rate of the U.S. economy. Though the past couple months have brought signs that its short-term growth prospects might be
Country Budget Reports Issued: UK, South Africa, India
HSP customers in the UK will be interested to learn of the reduced corporate tax rates, higher R&D credit, and lower hiring costs outlined in Budget 2013. Those in South Africa will want to know about the new VAT measures included in the somewhat subdued February 27 budget announcement. Under them, foreign businesses selling digital products to South African customers will be required to register for VAT purposes in South Africa. Customers in India will learn of further delays in GST and GAAR rollouts, as well as unchanged CT, individual income tax and indirect tax rates.
Immigration, Visa and Business Traveler News: Australia, EU, Netherlands, UK, Ireland, Canada
Corporate immigration forms the other