The comfort of knowing that your overseas assignments are being managed more efficiently and both the assignee and the company will be compliant.
Our purpose developed tools assist with the calculations and management of assignments. We offer HR Managers highly intergrated end-to-end solutions to meet their mission-critical business workloads. Our exclusive system delivers visibility and flexibility to monitor all critical dates. Our own purpose built in-house technology is used for all the tax calculations; no country is out of our scope.
IPM will maintain a database that holds comprehensive details of the assignees.
- Details of salary and benefits, historical data in addition to current, vital for calculating the initial assignment remuneration package and annual salary reviews.
- COLA data, location allowance or any other allowance your company policy offers to ensure the assignee is kept whole.
- Exchange rates required for calculations and to monitor currency fluctuation.
- Key dates, e.g. passport, visa and work permit start and expiry dates, critical to ensure assignees can legally travel and work in the assigned country.
- Assignment start and end dates, essential to manage the relocation, prolongation and eventual repatriation.
- Emergency contact details, important in the event of unforeseen circumstances.
- Managements reports as required, by date, home/host country order to view critical dates, pending assignments, current assignments, assignments due to end.
- IPM will monitor the dates as a matter of course and will alert you well before the expiry date so that a decision can be made whether to prolong, repatriate or transfer the assignee to local employment terms.
- Storage of all important documents ranging from tailored assignment letter to compliancy documents.
- Tracking of destinations services such as immigration, pre assignment visit, orientation, freight, relocation etc.
Our tax software is core to all our calculations it can include as much or as little detail (value of benefits, pension contributions, age of employee and ages of children if relevant to home or host country.
- Hypothetical home tax calculation, based on salary to obtain a hypothetical net salary. Many of our clients have adopted the tax equalisation approach to pay and benefits.
- Application of COLA and other allowances determined by policy to obtain an adjusted net salary.
- Host country gross up tax calculation, taking into accounts all components of the tax and social security planning.
- Preparation of the balance sheet to show the net position for the assignee and the tax liability for the Company.
- Preparation of assignment costing to include all the salary costs and other benefits provided.
- The calculation of the additional tax on the taxable value of benefits in accordance with the Host Country tax rules.
- The calculation provides support with the checking of the final pay delivery.
Information to make management decisions can be accessed at all times; you will know how many assignees you have and where they are. You will be informed when an assignment is due to end so the difficult process of repatriation can be progressed efficiently. International assignments are expensive. We therefore encourage our clients to undertake a full costing prior to the assignment to ensure that all decision makers are fully aware of the financial implications of their decisions