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17 November 2016        Italian Fathers Could Enjoy Longer Paternity Leaves PDF Print

paternity-leaveItaly has recently proposed a change in the mandatory paternity leave. According to the new ruling, young fathers will enjoy 5 days of mandatory leave, instead of 3 (1+2), as previously set.


The paternity leave period is 100% paid. The amendment has already passed the first approbation and remains to be approved by the Budget Committee.


The measure follows last year’s attempt to extend parental leaves for fathers up to 15 days – in an amendment to the 2016 Stability Law, which has been rejected. Italy currently has one of the shortest paternity leaves in Europe.


Currently, Italian fathers are entitled to a total of 3 paternity leave days. The first day is referred to the actual day of the child's birth, while the other two days can be taken anytime during the first year of the child's life.


If this amendment will be voted, it will be a great breakthrough, streamlining Italian legislation will the other EU countries.

 
11 October 2016        Salary Raises for Banking Sector in Italy PDF Print

As of October 1, 2016 applies the first pending tranche of increases in CCNL Contratto Bancari. CCNL Bancari was last renegotiated for 2015-2018.

 

Quadri Executives

Bancario_Tab_1

 

3 Area Professionale Executives

Bancario_Tab_2

 

2 Area Professionale Executives

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Livello unico + g.nott.: 17,48 €

Livello unico 17,03 €

 

The following two sets of increases are scheduled for 01/10/2017 and 01/10/2018.

 
04 October 2016        No Personal Income Tax in France for 2017/2018 PDF Print

Tax_at_sourceFrench withholding reform brings upfront a controversial issue – one year Personal Income Tax (PIT) exempt. The reform is set for debates in Parliament this fall. It will be voted in 2 brackets, first set on November 2nd and second tour is still to be appointed before December 23rd.


The one year gap in the Personal Income Tax collection is caused by the overlap of the old and the new proposed systems. The current PIT collection functions by n+1 scheme, where taxpayers would pay monthly or quarterly PIT on previous year’s income. On the other hand, the tax at source system requires monthly up to date compliance, creating this way a possible double-taxation year for the taxpayers; first for the previous fiscal year and the other for the first year of withholding.


However, French authorities seem positive about avoiding double burden for taxpayers. This means, that if the reform passes Parliament, 2017 PIT will remain basically untaxed. The reform will be implemented as follows:


  • In 2017 taxpayers will pay PIT according to the old system, on the income earned in 2016.
  • 2017 PIT will remain untaxed.
  • In 2018, the proposed year of withholding implementation, taxpayers will be taxed on 2018 ongoing yearned income.

  • In case the provision is voted this year, France will join other EU states levying income tax at source. Consequently, French payroll will become even more complex. This will lay on businesses additional obligations of collecting income tax from employees and transferring the funds to the French Finance Ministry.


    The Withholding Reform contains a detailed scheme of the transition process, aiming to make it as clear and easy as possible. Regardless of that, the payroll calculations and HR compliance will face additional pressure during the first year of implementation.


    Follow as next week for an overview on French Personal Income Tax!

     
    30 September 2016        Spain Adjusts Administrative Deadlines PDF Print

    DeadlineDeadlines for administrative procedures in Spain will shortly change. As of October 2nd, 2016 come into force a set of provisions enacted in Law nr.39/2015 “Common Administrative Procedure of Public Administration”. The regulations affect the terms of submitting request, complaints etc. According to the new rule, Saturdays will have the same status as Sundays and bank holidays and will no longer be considered a business day.

    In practice, it will reflect in extended deadlines. All Tax Agency (Agencia Tributaria) compliance terms will now be counted in business days (días hábiles).

    The amendments excludes Saturdays from calculation basis in the following articles:

  • Article 30 “Deadlines calculation” – stipulating that all Spanish Law provisions and EU provisions concerning terms will onwards exclude Saturdays from calculation, along with Sundays and bank holidays.
  • Article 103 “Submission of the demand for dismissal” – The dismissed employee may claim against the dismissal in terms of 20 days following the date the dismissal had occurred. The Court will not consider Saturdays, Sundays and bank holidays when considering the term.
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    14 September 2016        Spanish Government Encourages Foreign Investments PDF Print

    Capture_Inv_ESThe Spanish government has launched an incentive for foreign investors. The program called “RISING START UP SPAIN” is a 6-month accelerating program aimed to attract international entrepreneurs and talent to Spain.


    The program offers a non-refundable financial assistance for each beneficiary up to a maximum of €10,000. Besides that, the incentive also includes a series of benefits as: free physical space in Madrid and Barcelona, visa services, specialized mentoring to support the funding process and other basic entrepreneurship support services.


    The program is oriented to foreign startups, foreign entrepreneurs and non-resident Spanish entrepreneurs.


    Types of eligible entrepreneurial projects:


    Innovative entrepreneurial projects that already got a positive feedback on the market are welcome to register for the program.


    * A foreign entrepreneurial project assumes a company constituted in Spain in which at least 10% of the capital belongs to a foreign natural person or legal entity.


    Conditions to apply for the program:


  • At least 10% of the start up's capital in Spain must belong to a foreign legal entity or natural person, or a Spanish non-resident provided that he/she is a natural person.
  • The start up must be either in process of formation by the time the assistance is granted or less than one year old from the formation.

  • Conditions to receive/beneficiate from the assistance:


    The start up must incur minimum costs of €25,000 from the date the assistance is awarded till the end of the 6 month incubation period.


    The €25,000 costs must be formed of at least 2 of the following:


  • pre-set up costs and constitution of the start up;
  • acquisition of licenses, patents and brand registration;
  • personnel costs;
  • technological consulting; purchase and rental of technological and industrial equipment;
  • promotional costs and travel costs of attending events related to the company's business.

  • NOTE: The program is implemented by ICEX España Exportación e Inversiones!

     
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