Tax Equalization Policy Clause Samples
A Tax Equalization Policy is a contractual provision designed to ensure that employees on international assignments do not pay more or less tax than they would have if they had remained in their home country. Under this policy, the employer calculates the hypothetical tax the employee would owe at home and adjusts their compensation so that any additional tax burden or savings resulting from the assignment is neutralized. This approach provides financial predictability for employees and helps employers manage the complexities of cross-border tax obligations, ultimately ensuring fairness and consistency in employee compensation during international assignments.
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Tax Equalization Policy. The Tax Equalization Policy is to support your general tax neutrality and global tax compliance while on Assignment. You acknowledge that you have been provided with, understand and consent and are subject to the terms of the ▇▇▇▇ Tax Equalization Policy, version 1.0. By signing this LOA, you expressly authorize the company to withhold any amounts due to the company.
Tax Equalization Policy. The Company agrees that the Tax Equalization Policies in effect during the Employee’s international assignment will continue to be in effect and applicable as to any compensation, awards, benefits or other taxable income provided to the Employee pursuant to the Agreement and General Release hereto. However, such tax equalization payments shall be made no later than the end of the second taxable year of the Employee beginning after the taxable year of the Employee in which the Employee’s U.S. Federal income tax return is required to be filed (including any extensions) for the year to which the compensation subject to the tax equalization payment relates, or, if later, the second taxable year of the Employee beginning after the latest such taxable year in which the Employee’s foreign tax return or payment is required to be filed or made for the year to which the compensation subject to the tax equalization payment relates; provided, however, that where such payments arise due to an audit, such payments shall be made by the end of the Employee’s taxable year next following the Employee’s taxable year in which the Employee remits the related taxes.
Tax Equalization Policy. The Tax Department will advise you of any assignment related remuneration as well as any foreign filing obligations which may keep you in the tax equalization program beyond the final year of your repatriation. Effective the date of your repatriation, your hypothetical tax withholdings will cease and you will revert back to actual Federal and State income tax withholding as applicable.
Tax Equalization Policy. Executive's shall have the benefit of, and his tax responsibility will be administered in accordance with, AGC's Tax Equalization Policy, as modified by the provisions of Attachment A and Section 3(c) hereof.
Tax Equalization Policy. The accounting firm of PricewaterhouseCoopers will assist you in the preparation and filing of your 2000 and 2001 foreign and domestic income tax returns and any tax issue that may result from your international assignment. The cost of PricewaterhouseCoopers services will be borne by the U.K. It is your responsibility to file returns and provide required documentation on a timely basis to comply with home and host country tax laws. Please contact the local office in the U.S. (Chri▇ ▇▇▇▇▇ ▇▇ 565-2207) soon after your arrival so that you can be briefed on tax documentation and filing requirements. Once your tax compliance work is completed as a result of your expatriate assignment, your U.S. income tax preparation will be provided as a part of the U.S. officer program.
Tax Equalization Policy. As long as Executive is a resident of Brazil, a hypothetical tax will be deducted from the Salary. The hypothetical federal income tax at the Executive's initial Base Salary of $125,000 will be approximately U.S. $32,000 or approximately U.S. $2,700 per month, and will be adjusted from time to time based on prevailing tax rates. The Bonus and Signing Bonus will be taxed at the time of payment. For the Term, the accounting firm of Ernst & Young or such other firm of independent accountants as shall be reasonably acceptable to Executive and Employer (the "Accountants") will prepare and assist Executive in filing his foreign and United States income tax returns and will provide Employer with a statement of the tax liability on Company-earned income, which will then be paid by Employer. Upon completion of such returns, a tax equalization statement will be prepared by the Accountants to compute Executive's stay-at-home tax. The stay-at-home tax is equivalent to the income tax that would have been incurred on United States income assuming a Florida domicile (exclusive of expatriate-related premiums, allowances, foreign income tax exclusions, moving, relocation, etc.
Tax Equalization Policy. As long as the Executive is a resident of Brazil, a hypothetical tax will be deducted from the Salary. The hypothetical tax at the Executive's Salary initially will be the Brazilian reais equivalent at the then prevailing exchange rate of U.S. $32,445.00 or the Brazilian reais equivalent at the then prevailing exchange rate of U.S. $2,704.00 per month, and will be adjusted from time to time based on prevailing tax rates. The hypothetical tax will be deducted on the Bonus at the time of payment initially at the rate of 36%, subject to adjustment from time to time based on prevailing tax rates. For so long as the Executive is being compensated pursuant to this Agreement, the accounting firm of Ernst & Young or such other firm of independent accountants as shall be reasonably acceptable to the Executive and the Company (the "Accountants") will prepare and assist the Executive in filing his foreign and United States federal, state and local income tax returns (the "Tax Return") and will provide the Company with a statement of the Executive's liability for taxes (whether income, employment or other taxes) on amounts paid to him or income received by him, in connection with his employment by the Company (including all amounts described in Section 3) which will then be paid by the Company on a timely basis. Upon completion of such returns, a tax equalization statement will be prepared by the Accountants to compute the Executive's stay-at-home tax. The stay-at-home tax is equivalent to the federal, state and local employment taxes that would have been incurred on Salary, Bonus, Restricted Stock and Benefits (exclusive of payments made pursuant to Section 3(d), (e), (f), (h) and (j) and any other expatriate-related premiums, allowances, foreign income tax exclusions, moving, relocation, etc.). If the stay-at-home tax is less than the hypothetical tax withheld, the difference will be reimbursed to the Executive by the Company. Conversely, if the stay-at-home tax exceeds the hypothetical tax withheld, the Executive will be required to reimburse the difference to the Company. The fees and expenses of the Accountants shall be borne by the Company. In order to accomplish the purposes of this section, all payments by the Company will be grossed-up for any tax liability resulting from those payments. In addition to the foregoing, the Accountants will also prepare and assist the Executive in connection with any audits of and amendments to the Tax Returns. The Company will ...
Tax Equalization Policy. Executive and Company agree that the terms of the Global Tax Equalization Policy (including the United States Addendum) that applies to similarly situated Company employees, continues to apply to Executive during the Transition Period and after the Separation Date until such time as Executive no longer has income from Company subject to the Tax Equalization Policy. For clarity, this includes Company’s obligation to provide the information needed for Executive’s personal tax returns for such tax years, and Executive’s and Company’s obligations to pay the required actual or hypothetical taxes as set forth in the policy.