If you’re planning an international expansion, you’re probably also planning to send employees abroad. After you choose which key employees to send, plow through the paperwork, and calculate the cost-of-living adjustments, you might feel that you’re done with the process. For the employees who are leaving home, though, the journey is just beginning.
By Brooke Martin, Senior Associate, HR Advisory Services, High Street Partners
For businesses expanding into foreign markets for the first time, adapting human resources presents one of the greatest challenges. HR teams at headquarters can find themselves dealing with an unfamiliar labor market, surprising norms about benefits and compensation, and the risk of running afoul of strict foreign labor laws – all at once.
By Lynne Harding, Senior Director, Knowledge Management
In any given month, this digest of international regulatory changes could be subtitled “All About Taxation” and the November issue is no exception. After all, tax treaties, corporate tax, VAT, and withholding tax are all hot-button international issues for multinational firms. This particular International Operations Update includes coverage of the US Senate Finance Committee’s recent release of an international tax reform discussion draft, articles on new VAT regulations in the EU, Spain, and China, and a review of the tax implications involved when leasing electric cars in Norway.
China has just rolled out an updated trademark law, and it means business. New measures modernize and streamline the application process and significantly beef up protections for rightful trademark holders against infringement. The reforms are important for anyone doing business in China. They’re also the latest sign of the country’s ongoing transition toward economic maturity.
Five years ago, if you had asked an American executive operating in Southeast Asia whether they saw opportunities in Burma, they would have laughed. The country’s totalitarian military dictatorship was among the most isolated in the world, perhaps second only to North Korea. Western economic sanctions and the regime’s brutal repression made doing business there unthinkable for European and American firms. But today, that hypothetical American executive might be taking Burma, also known as Myanmar, very seriously.