Two experts from KPMG will discuss the latest trends, opportunities and challenges facing companies arising from the changing workplace, employees' expectations and the tight job market. They will also highlight some of the key tax considerations that employers and HR professionals should weigh regarding staff termination in reference to some recent tax case(s) – including Heath Brian Zarin v Commissioner of Inland Revenue  HKCFI 1846. These court cases reaffirm the key principles and their application to share-based terminal payments.
While most companies regularly review their manpower needs, policies and payroll budgets, what is unique this year is increasingly more employees are also reassessing their career expectations and needs. Given the dramatic shift in how and where we work under the new normal, employers and HR professionals need new strategies to retain and attract talent.
Complicating this challenge for some companies is the need to restructure their local and regional talent pools, which can lead to disputes and taxation issues. As such, employers should consider not only the cost of termination, but also the way that contracts and agreements are reached, structured, and documented, as they may affect tax outcomes.