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Home / 2019

2019

Business Tax in Ecuador

Ecuador is currently in a state of tax reform and many different areas of tax policy are being adjusted. This is undoubtedly creating some strain on a number of different companies and industries within the country. From an accounting perspective, this tax reform strives to make the overall corporate tax system much simpler and will further improve the financial structure of the government as they attempt to eliminate fuel subsidies.

At this point, companies are subject to a flat-rate income tax of 25% after workers’ and employees’ profit shares have been deducted (approximately 15%). Additionally, personal tax rates will remain the same at a variable rate of 5-35% based on a number of factors.

  • The GPS Team
  • 30 December, 2019
  • No Comments

5 Strategies for Successful International Hiring

Organizations have seen many changes in the last few decades, but none have been as transformative and radical as what we now call Globalization. Today, more and more companies are opening up offices/factories in countries in addition to their own, in order to reap the benefits of a globally distributed workforce.

With global expansion comes the responsibility of hiring high quality manpower at all company locations.

Hiring internationally, where the recruiter sits in one country and hires for operations in other countries, is a critically important component of multi-national companies. Read on to learn some of the hallmarks of how to have a successful international hiring practice:

  • The GPS Team
  • 23 December, 2019
  • No Comments

Hiring and Terminating Employees in Poland

Poland is a country located in central Europe with just over 38 million citizens. As of 2017, just over 18 million of these citizens were considered part of the Polish labor force – accounting for nearly half of the overall population. With approximately 2.6 million businesses registered in the country, it is important to understand the hiring and termination policies as described in the Polish Labor Code.

  • The GPS Team
  • 17 December, 2019
  • No Comments

Labor Bans in the UAE

While considered taboo in a number of regions and countries around the world, labor bans are alive and well in the United Arab Emirates, where there are two types of visa related bans (labor bans and immigration bans). As a country where the majority of workers are actually expatriates, this can result in some major concerns for employees looking to work in the UAE.

  • The GPS Team
  • 10 December, 2019
  • No Comments

Payroll Practices in Colombia

An increasing number of companies are continuing to see Latin America as an attractive location to host foreign production and investments. As all global companies know, there are both pros and cons to creating business operations in multiple countries and staying compliant with different labor legislations can be a tricky standard to uphold. Colombia is a country that may be attractive for generating new business operations, but with complex and extensive payroll systems and requirements in this country, it is vital for global business operations to understand the local laws and mandates.

  • The GPS Team
  • 3 December, 2019
  • No Comments

Employment Contract Changes in Italy

Until 2018, Italy preferred using fixed-term employment agreements when hiring employees within organizations. While certain situations are preferable for the use of a fixed-term contract (such as when an employee will be hired to cover another employee’s leave of absence), having a majority of all employment agreements in Italy as fixed-term made employment, in general, more complicated than necessary.

  • The GPS Team
  • 26 November, 2019
  • No Comments

Working Remotely in Costa Rica

New legislation in Costa Rica has created an opportunity for employees to work remotely from their homes instead of traveling into their offices each day. This legislation has been created as a method to create more jobs, and more job opportunities, for those that live in progressively rural areas throughout the country. In this regard, employees that work digitally or in IT related services are no longer required to live and work in large, urbanized areas.

  • The GPS Team
  • 19 November, 2019
  • No Comments

Firing Without Severance in Turkey

In recent news, precedence has been set that employees may be fired without severance pay from their jobs in Turkey if they are gossiping at work. In the case that set the precedence for this ruling an employee was fired without severance pay after being employed at their organization for approximately 18 months. The employee in this case was fired due to the employer indirectly observing their gossiping behaviors in the workplace. These behaviors were, in the view of the employer, causing disruptions in the office based on rumors that were being spread about two other employees.

  • The GPS Team
  • 12 November, 2019
  • No Comments

The Creation of Minimum Wage in Finland

Finland is finally discussing the creation of minimum wage regulations since sector specific minimum pay regulations have not existed in the country, which creates both more opportunities and risk for employees in the country. Since the 1970s, Finland has utilized collective bargaining practices in order to negotiate wage agreements. This has been the case both on a national level, as well as on an industry specific level.

  • The GPS Team
  • 5 November, 2019
  • No Comments

Understanding Local Cultures in Myanmar

In order to facilitate a greater understanding for local cultures in Myanmar, the Directorate of Investment and Company Administration, in alignment with the Myanmar Centre for Responsible Business, have collaborated to create a nation-wide useable guide titled “Respecting Myanmar Culture in the Workplace”. This guide was created in order to provide those working in Myanmar with more background information on the local culture and norms of the country, to educate the many foreign workers in this nation.

  • The GPS Team
  • 29 October, 2019
  • No Comments

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Copyright © 2019 Global People Strategist. This material has been prepared for informational purposes only, and is not intended to provide, nor should you rely on it for, legal, tax, or accounting advice in any jurisdiction. You should consult your own legal, tax, and accounting advisors as part of your expansion plans.

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