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CONVINUS Global Mobility Alert CW 37_2020_english

  • Text
  • Singapore
  • Herzigovina
  • Switzerland
  • Kingdom
  • Security
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CONVINUS Global Mobility Alert CW

e p t e m b e r 2 0 2 0 S s s u e C W 3 7 I LONGER DURATION AND JOB ADVERTISEMENTS OF BOSNIA AND SWITZERLAND DRAWS WITH CLOSER FREE SERVICE OF: A GLOBAL MOBILITY SOLUTIONS CONVINUS 70, 8001 ZURICH, SWITZERLAND TALSTRASSE / INFO@CONVINUS.COM WWW.CONVINUS.COM Kingdom: United SELF-ISOLATION REQUIRED 14-DAY News from the world of global mobility The Ministry of Manpower (MOM) of Singapore has made changes to the minimum wage and job advertisements in relation to work permits, as follows: For Employment Pass applications submitted as of September 1, 2020, the qualifying minimum monthly salary is SGD 4,500. For Employment Pass applications (only in the financial sector) submitted from December 1, 2020, the minimum qualified monthly salary is at least SGD 5,000. For S Pass applications submitted as of October 1, 2020, the minimum qualifying monthly salary is SGD 2,500. Singapore: MINIMUM WAGES NEW The new minimum wage regulations will not come into force until May 1, 2021 for extensions of existing permits. In the future, the publication of job advertisements will take 28 instead of 14 days. From October 1, 2020, the publication obligation will also apply to S Pass applications that have not yet been subject to an examination by the labor market. Persons entering the UK from Switzerland after 29 August 2020 must enter a 14-day self-isolation period and fill out a contact form ("passenger locator") before entering the UK. On June 15, 2020, Switzerland suspended the restrictions on entry from UK/EU/EFTA countries. The free movement of persons was thus restored, as UK/EU/EFTA nationals were able to enter Switzerland from Great Britain without entry restrictions. However, if non-UK/EU/EFTA nationals enter Switzerland, entry regulations continue FOR ENTRY FROM SWITZERLAND to apply, which can be viewed on the website of the State Secretariat for Migration (SEM). The agreement between Switzerland and Bosnia and Herzegovina was already signed on October 1, 2018. On June 5, 2020, the Swiss Federal Council referred it to the Parliament for approval. This is a further step towards the entry into force of the new social security agreement between the two countries to replace the agreement with Yugoslavia which is still in force today. The social security agreement complies with the usual international standards and coordinates above all the old-age, survivors' and disability provisions as well as the HERZEGOVINA: SECURITY AGREEMENT SOCIAL accident insurance of the two contracting states. It also regulates the payment of pensions abroad. This avoids potential discrimination or disadvantages for nationals of Switzerland and Bosnia and Herzegovina with regard to social insurance. The agreement also provides a basis for combating abuse in the social security field. SWITZERLAND: DOUBLE TAXATION AGREEMENT (DTA) NEW WITH BAHRAIN APPROVED BY FEDERAL COUNCIL At its meeting on August 26, 2020, the Federal Council of Switzerland approved the new double taxation agreement (DTA) with Bahrain in the area of taxes on income and wealth, which has been signed by representatives of both states in Manama, the capital of Bahrain, on November 23, 2019. The legislative bodies of both countries must now approve the DTA before it can come into force. The aim of the agreement is to develop the economic relations between the two states further, to deepen the cooperation in tax matters and to make cross-border investments more attractive. Since Bahrain is an important regional hub, the Kingdom is an interesting market for Swiss financial institutions. So far, in the area of taxation there was only an agreement to avoid double taxation in air and sea transport (which has been concluded in 2004) in place. In 2014, a free trade agreement also came into force between the EFTA and GCC states (Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, United Arab Emirates).

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