Assignment Tax Calendar 2005/2006: Avoiding an Avalanche of Tax Problems

CompassGUIDES - Dec 2005

By Diana Matwichuk, Assignment Planning Specialist

Expatriate employee tax reporting is a daunting task for many international assignment managers, but failure to comply (on time) can result in a litany of tax problems. Many companies are also unaware of the substantial tax savings to both the company and the assignee due to the availability of tax credits, all of which have application deadlines.

In the face of increased CRA and IRS scrutiny, and a sharp increase in the number and severity of penalties for failure to meet reporting deadlines, it is important that companies plan now to follow the proper procedures in a timely fashion. Assignment managers should take several important steps now to ensure that their companies comply with Canadian and host country tax legislation and regulations throughout the upcoming year.

Our CompassGUIDES International Assignment Tax Calendar – 2005 / 2006 assists both the International Assignment Program Manager and the assigned employees of Canadian companies to meet key 2005 / 2006 Canadian and US tax reporting deadlines.

At CompassTAX, we work with Canadian companies to minimize compliance costs and implement assignment tax programs. Should your company require assistance with the planning of assignments or have assignment tax issues, please contact our office at (403) 531-2200 or inquire via our International Assignment Planning Helpdesk .