Global Share Plans

Saudi Arabia: Recent amendments by Capital Authorities means share plans should be reviewed before being offered in Saudi Arabia * * * Greek capital gains tax: Recent legislation in Greece indicates taxation of share plans may change in 2009 * * * France: Following recent legislation social security is now payable on qualified share awards * * * EU Prospectus Directive: A recent report from CESR indicates that short form disclosure and prospectus may be acceptable across europe * * * India FBT Tax - valuation and payment: India Central Board of Taxes has announced valuation of share awards for FBT purposes to be made using Category 1 Merchant banker in India and payable by December 15 * * * Italy approved options abolished: Change in law abolishes approved options and eliminates social security on approved options * * * NASPP Conference: NASPP conference in New Orleans starts on 21 October see naspp.com * * * Finland and deductions: A November Supreme Court decision approved the deductibility of a payment by Finish subsidiary to its parent company. Legislation may remove this right however * * * Japan- No filings for less than 50 persons: Recent legislation indicates no filings are now required where the company has less than 50 employees operating in an employee share plan * * * Canada confirms withholding obligation: Recent policy changes by the Canadian Revenue Authorities indicate that withholding is now required on share plans for Canadian residents * * * Australian Federal Budget: Changes to the deferral of tax on award/grant conditions and taxation of trusts proposed * * * Sri Lanka tax approved plans: New tax approved plan can now be obtained by direct application * * * Australia: Payroll tax standardised across Australia and payable on share plan benefits * * * Thailand - Forex change: The Bank of Thailand has increased the limit on fund remittance to purchase shares of overseas companies under employee share plans to USD 1 million per person per year (formerly USD 100,000) * * * Thailand exchange controls: US$ 100,000 limit per year on transfers abroad has been expanded to 1 million US$ per year per person * * * NASPP Annual Conference October, 2008: New Orleans ---- Full Details at www.naspp.com * * * China Plan Registration: Recent circulars in China indicate that both option plans and ESPPs should be registered with SAFE with fines for non compliance. Companies with share plans in China should seek local advice * * * Finland - Deductions for share plans: A recent court decision has allowed a deduction where a subsidiary has been charged for a share plan under the grounds that in the US the company has to count this as an expense. It is expected new legislation will close this at year end * * * Kazakhstan - Requirement to notify Central Bank: Kazakh employees are now required to notify the Central Bank of the acquisition of shares in a non-resident only if the value of the shares exceeds US$50,000 * * * Philippines - No tax on option exercise: Bureau of Internal Revenue recently ruled that the discount on an option exercise is not taxable. Reversing previous BIR rulings that discount on exercise is taxable income * * * Vietnam: New Foreign Exchange Decree hints that residents may be able to make offshore investment in the future. However, no such regulations are yet in place * * * Venezuela: Recent amendments to exchange control laws require companies to register with the Comision de Administracion de Divisas (“CADIVI”). Where employees receive cash in foreign currency in Venezuela (through dividends or share sales) these foreign exchange regulations may affect the receipt of that foreign currency. Local advice is recommended * * *

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“GlobalSharePlans was an extremely helpful website for me as an Internal Comp & Ben Manager. It was very straightforward to use in order to find quality, country specific, information. I can strongly recommend GlobalSharePlans to other Comp & Ben folks.”

Goran Musulin, Dade Behring

GlobalSharePlans

We are a leading provider of regulatory and tax advice on international stock option plans, restricted stock plans, restricted stock unit plans, stock purchase plans and cash based alternatives.

Acting for major multinationals and working with our network of lawyers in 92 countries, we will provide you with the advice you need for your global share plan.

GlobalSharePlans details:
Email: info@globalshareplans.com
Tel: +34 972 903 876
Fax: +34 972 271 076

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You can use our database products to create your own feasibility table setting out the securities laws, exchange controls, and employment law and tax implications of your global share plans.

You can create tables with individual tax consequences for employees, reporting and withholding obligations for the local company as well as "full reports" and tables with the regulatory and tax information your company requires before implementing the plan and to ensure ongoing compliance.

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Contact us to create a live demo for you showing how the information can be delivered to the parent company, the local employee and the participant in an easy to use, practical and cost efficient way.

Just let us know the plans you run and the countries you are interested in and we will set you up with a 30 day "no obligation" trial so that you can see how GlobalSharePlans can work for you.

Please Note: In preparing the information in the GlobalSharePlans databases we have attempted to provide the most up to date advice available. However, the law does change rapidly in this area and specific circumstances are likely to apply to your company benefit plan which may affect the advice. The information should therefore be used as guide only. Before acting upon the information or refraining to act due to the information we would recommend that you seek independent advice. We would be happy to assist you in obtaining that advice.

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We work with high quality law firms in 92 countries. These firms update the GlobalSharePlans database and are always available to provide legal advice and assistance. You can contact any of these firms through the Global Contacts button on this page.

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