Global Compensation Services and Benefits
Tax laws often require that citizens deployed on international assignments pay taxes in their home or host country, regardless of whether the income was paid directly to (or on behalf of) the individual in either of the jurisdiction.
These payments can potentially be delivered from various sources, such as multiple payroll systems, accounts payable, and third party vendors, and in multiple currencies. Ultimately, the client company’s tax provider must compile these payments in a central location and single currency for tax compilation and reporting purposes.
TheMIGroup can help businesses navigate these waters.
Our global compensation technology combined with customized process flows and integrated reporting features provide a wide range of benefits, including:
- Reduction in number of tax forms issued and resulting amended tax returns filed.
- Decrease in late filing and underpayment penalties assessed by the home or host country taxing authorities.
- Greatly facilitate the annual tax true-up process and optimize cash flow.
- Enhance the ability to plan and claim tax relief and other compensation and benefits that otherwise may not be available.