For global companies operating employee share plans, local companies are essential to the smooth running of the plans. As they are responsible for payroll, and as they have a direct relationship with the employees, they need to be aware of the tax and legal compliance issues at every phase of the share scheme.
One of the key aims of our business in our first year was to find ways to help parent companies deliver the right information to their local companies, and we are delighted that this is something we can now provide.
We started with the premise that local companies need to be aware both of issues that affect them in their position as local companies, and also of issues that affect the employees in their jurisdiction. Our Share | Compliance app can sort issues into these ‘responsibilities’ which means parent companies can give local companies the compliance information they require. By using our app, companies also make sure that that information is up to date and accurate at all times.
Key compliance areas include: exchange controls (for currency movements), reporting, social security, income tax, capital gains tax, withholding, and recharge.
Our message is: don’t neglect your local company’s compliance requirements. We would be delighted to give a live demo of our app to show you how we deliver our compliance solutions – just drop us a line to fix a meeting.