The COVID-19 pandemic has impacted people’s ability to move freely to and from different countries. This has resulted in many individuals spending more time in a certain country than expected. Many have no way of returning to their home country and therefore need to understand the financial implications that may occur. Some countries have implemented emergency measures to try and reduce the taxation rules due to COVID-19.
Many organisations have expatriates in various countries and there are vast tax implications for those who find themselves in a country for a prolonged period of time. As many employees are remote working, it is essential for organisations to know where their employees are currently located to avoid unexpected international taxation. This can have a significant impact financially on organisations.
In order for the employer to understand where their employees are currently located, Vismo can provide location updates on a daily, weekly or monthly basis. Vismo provides organisations with a tool to understand if an employee has been in a country for an extended period of time. This information can then be used to help identify potential tax implications. Vismo can produce reports with a country location of individuals on a regular basis, providing organisations the necessary information to stay informed.
The employer can be notified when an employee is approaching their deadline for remaining in a country from a tax liability to the organisation. Vismo can also alert managers or teams when an individual changes country, an automatic email and SMS notification is sent with the individual’s name and new country location. Providing an immediate alert of an individual changing country.
To understand how Vismo can assist with better understanding the location of expatriates for taxation purposes, arrange a demonstration today: https://vismo.com/arrange-demo/