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The Global Equity Matrix

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The Global Equity Matrix The Global Equity Matrix Employee Cash Awards, Employee Stock Options, Stock Purchase Rights, Restricted Stock and Restricted Stock Units Argentina Denmark Israel Peru Sweden Australia Egypt Italy Philippines Switzerland Austria Finland Japan Poland Taiwan Belgium France Korea Portugal Thailand Brazil Germany Malaysia Russia Turkey Canada Hong Kong Mexico Saudi Arabia Ukraine Chile Hungary Morocco Singapore United Arab Emirates China India Netherlands Slovak Republic United Kingdom Colombia Indonesia New Zealand South Africa United States Czech Republic Ireland Norway Spain Vietnam June 2020 At Your Fingertips – Global Equity Services Resources Global Equity Services The Global Equity Matrix App Two Embarcadero Center, 11 Floor Information on the key compliance issues for equity awards, covering tax and securities, exchange control, labor and data privacy San Francisco, California 94111 issues in 50 countries. Available for download on your iPhone or iPad. +1 (415) 576 3000 The Global Equity Equation Blog [email protected] Visit our blog today for the latest developments in global equity-based compensation. The Compensation Connection Blog Visit our blog for the latest developments in executive compensation and employee benefits: Talking Stock Podcast Series "Talking Stock" our latest podcast series provides global equity guidance on demand. The information in this matrix should not be relied upon for tax/legal advice and is not a substitute for obtaining such advice. Although every effort has been made to provide an accurate and up to-date summary based on grants to employees under a public company's plan, laws applicable to stock plans change frequently and are often unclear in their application to awards offered by a company in another country. Also, specific plan features, structure of legal entities, industry of issuer, types of shares used, specific tax rulings obtained, etc. may affect legal and tax results. Specifically, depending on the terms of the plan/grant, the tax/legal consequences can vary greatly (e.g., dividend equivalent payments may accelerate the taxable event for RSUs). Accordingly, reliance on this information for answering specific tax/legal questions is not advised. Instead, the information in this matrix should be used only as a guide to potential tax/legal issues/consequences, and you should seek advice from Baker McKenzie's Global Equity Services group ([email protected]) before making grants. ©2020 Baker McKenzie. This document is protected by U.S. copyright laws and international copyright treaties. Except for fair use, 17 USC § 107 or other applicable local mandatory legal exceptions, no part of this document may be copied without the prior written permission of Baker McKenzie. Unauthorized copying will be prosecuted to the maximum extent permitted under applicable laws. No copyright is claimed in the text of statutes, regulations or court opinions quoted in this document. Baker & McKenzie is a member of Baker & McKenzie International. www.bakermckenzie.com Page 1 of 163 Country Taxation of Sub Deduction Withholding Securities Exchange Plan Data Privacy Employee and Reporting Restrictions Controls Entitlement Argentina Tax on spread at Allowed if subsidiary Income Tax: No, if private Outward Significant entitlement Written consent from exercise. reimburses parent placement procedures remittances by issues, especially if employees for the Yes, employers OPTION Tax on sale. under a written required to withhold are followed. individuals without grants made transfer of data abroad agreement. prior approval from regularly/frequently. is strongly and report the A bank tax may apply the Central Bank are recommended. taxable amount at the to transfer of funds time of exercise. subject to a low Companies should made in connection monthly limit. Prior check with their data with employee stock Social Insurance approval from the privacy counsel to plans. Contributions: Central Bank is determine any other A personal assets tax Employee and required for outward requirements (such as may apply to shares employer social remittances made notification or acquired under an insurance by a local entity. registration obligations). employee stock plan. contributions are Outward A stamp tax may required. remittances will apply to execution of Employee social likely be subject to a hard-copy equity insurance withholding tax. award agreements. contributions are For transfers into subject to a monthly Argentina, no prior income ceiling. approval is Employer social necessary; however, insurance certain exchange contributions are not control requirements subject to income may apply. The ceilings. transferor of the funds is responsible Employer has to for compliance with withhold employee's exchange control contributions. restrictions. Argentina Tax on discount at Allowed if subsidiary Income Tax: No, if private Outward Significant entitlement Written consent from purchase. reimburses parent placement procedures remittances by issues, especially if employees for the Yes, employers ESPP under a written are followed. individuals without grants made transfer of data abroad Tax on sale. required to withhold agreement and report the prior approval from regularly/frequently. is strongly A bank tax may apply the Central Bank are recommended. taxable amount at to transfer of funds subject to a low Companies should purchase made in connection monthly limit. Prior check with their data with employee stock Social Insurance approval from the privacy counsel to plans. Contributions: Central Bank is determine any other A personal assets tax Employee and required for outward requirements (such as may apply to shares employer social remittances made notification or acquired under an insurance by a local entity in registration obligations). employee stock plan. contributions are connection with an required. Employee www.bakermckenzie.com Page 1 of 163 Country Taxation of Sub Deduction Withholding Securities Exchange Plan Data Privacy Employee and Reporting Restrictions Controls Entitlement A stamp tax may social insurance employee share apply to execution of contributions are plan. hard-copy equity subject to a monthly Outward award agreements. income ceiling. remittances will Employer social likely be subject to a insurance withholding tax. contributions are not For transfers into subject to income Argentina, no prior ceilings. approval is Employer has to necessary; however, withhold employee's certain exchange contributions. control requirements may apply. The transferor of the funds is responsible for compliance with exchange control restrictions. *Payroll deductions are technically not permitted in connection with an ESPP. Argentina Tax at grant for RS; Allowed if subsidiary Income Tax: No, if private For transfers into Significant entitlement Written consent from tax at vesting for reimburses parent placement procedures Argentina, no prior issues, especially if employees for the Yes, employers RS/RSU RSU. Taxable under a written are followed. approval is grants made transfer of data abroad required to withhold amount is fair market agreement. and report the necessary; however, regularly/frequently. is strongly value of the shares certain exchange recommended. taxable amount at the on the tax event. control requirements Companies should time of the taxable Tax on sale. event. may apply. The check with their data transferor of the privacy counsel to A bank tax may apply Social Insurance funds is responsible determine any other to transfer of funds Contributions: for compliance with requirements (such as made in connection Employee and exchange control notification or with employee stock employer social restrictions. registration obligations). plans. insurance A personal assets tax contributions are may apply to shares required. acquired under an Employee social employee stock plan. insurance A stamp tax may contributions are apply to execution of www.bakermckenzie.com Page 2 of 163 Country Taxation of Sub Deduction Withholding Securities Exchange Plan Data Privacy Employee and Reporting Restrictions Controls Entitlement hard-copy enrollment subject to a monthly documents. income ceiling. Employer social insurance contributions are not subject to income ceilings. Employer has to withhold employee's contributions. Argentina Likely taxed at Generally, yes, Income Tax: No. No. Significant entitlement Written consent from payment. provided subsidiary issues, especially if employees for the Yes, employers Cash Award bears the cost of grants made transfer of data abroad Taxable amount is required to withhold amount of the cash award. Written and report the regularly/frequently. is strongly agreement recommended. payment. taxable amount at the recommended. Companies should time of payment. A stamp tax may check with their data apply to execution of Social Insurance privacy counsel to hard-copy equity Contributions: determine any other award agreements. Employee and requirements (such as employer social notification or insurance registration obligations). contributions are required. Employee social insurance contributions are subject to a monthly income ceiling. Employer social insurance contributions are not subject to income ceilings. Employer has to withhold employee's contributions. Australia Options granted on or Allowed if the Income Tax: Prospectus generally Reporting required Generally not, if right to Written consent from after 1 July 2015: subsidiary required unless for cash terminate plan is employees for the Employers
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