Until this year, UK employers had to acquire physical documents from their employees as proof of their right to work in the UK, a process many found needlessly cumbersome. Employers may now fulfil their obligations using an online service, which provides real-time information on migrants’ right-to-work status.
If you’re a U.S. taxpayer with a bank account outside the country, you may need file an FBAR, which is used to report foreign account information to the U.S. government. Failure to file can result in severe penalties, with fines as high as $100,000 or 50% of the account's balance.
A G7 group issued a report saying considerable work needs to be done before Facebook’s much-hyped Libra currency could gain approval and warning that cryptocurrencies could destabilise the global financial system unless they’re tightly regulated.
The UK’s off-payroll working rules, commonly referred to as IR35, tell employers how to classify contractors and other workers. They’re already complex, but changes effective next year will make them even more difficult to understand and follow. We tell you what you need to do to prepare.
Exactly 20 years after they started, representatives from the European Union and Mercosur concluded negotiations on one of the biggest trade deals in history. The EU is the South American bloc’s first major trade partner, and the new agreement is the largest ever for both sides.
Japanese workers put in some of the world’s longest shifts, which has had detrimental effects on their physical and mental well-being. A new bill aims to address the problem by tightening regulations on long hours and addressing workplace inequalities.
China has announced significant changes to its individual income tax (IIT) regime. Many of the changes are intended to benefit Chinese citizens, but the new regulations also affect foreign workers based in China.
If you’re a business based outside the U.S. and looking to expand into that market, you’ll need to incorporate your business in a particular U.S. state. Delaware is one of the most desirable U.S. locations for both foreign and domestic businesses to incorporate. This post provides some details about the state’s advantages, and explains why your business needs to consider incorporating in Delaware without assuming it’s the best option.
Brazil endured a difficult recession a few years ago and continues to experience headwinds. But it remains the eighth-largest economy in the world and an appealing destination market for multinationals. Marcelo Borgheti, Vistra’s Brazil Managing Director, has helped companies expand into and operate in Brazil for more than 30 years. He explains how and why Brazil’s economic landscape is changing and why multinationals still want get in on this huge, emerging market.
Last month, the European Court of Justice ruled that EU member states must require employers to systematically record the amount of time worked by each employee on a daily basis.
Much of our economic news lately has been dominated by the trade war between the U.S. and China, including escalating tariffs on both sides. However, the trade deficit is simply a measure of the difference of the value of imports between the two countries. There is another important measure that also sheds light on the balance of economic power between the U.S. and China. That measure also speaks powerfully to how U.S. companies operate and where they make their money. Most commentators, however, never mention it.
Singapore announced in its 2019 budget that it will lower the percentage of foreign workers allowed in the services sector. Authorities are looking to reduce Singapore’s dependence on foreign labour.