President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020, which provides a wide range of relief for individuals and businesses negatively impacted by the viral pandemic. Among the provisions is an immediate economic stimulus payment from the Internal Revenue Service (IRS) to certain individuals, including many globally mobile employees. In the coming weeks, mobility programs should make an evaluation of the impact this payment has on its population and policies.
On January 30th, I arrived in Manila to start my recent survey quarter, and the Philippines had just confirmed their first case of COVID-19. I observed what seemed like a swift local response as much of the population was already wearing masks, and hand sanitizer was provided in most hotels and restaurants in the Makati area. One supermarket even advised customers to put on a mask upon entering, but it was not mandatory.
The global COVID-19 pandemic is having a profound impact on all aspects of life: the economy, the healthcare system, and our broader communities. Countries across the globe have been taking immediate action to address the socioeconomic impact of the pandemic, including but not limited to: traveling and gathering restrictions, public funding expenditures, corporate/VAT/self-employment amendments, remote working guidance, and unemployment benefits. This update is intended to focus solely on the responses that governments have made with regards to individual income taxation, as of March 30, 2020.
In this unprecedented time, AIRINC has created a landing page to serve as a hub to help you learn more about how your peers in global mobility are responding to the impact of COVID-19. In addition we will share advice from our team, exchange rate changes, upcoming events, blog posts related to the crisis, and relevant documents. We also plan to add information related to the COVID-19 recovery.
In response to the COVID-19 pandemic, US Treasury Secretary Steven Mnuchin announced on March 20th that the U.S. filing deadline has been postponed from April 15th to July 15th. However, this extension only applies to filing of Federal individual income tax returns; each state is responsible for setting and announcing their own deadlines.
Last quarter, in the early stages of the global COVID-19 outbreak, I was surveying Southeast Asia. At the time of my transit through Kuala Lumpur, AirAsia had recently suspended flights from mainland China, Macau, and Hong Kong. Though normally a carrier that promotes customer self-service, the airline was diverting all travellers from these locations to the check-in counters to undergo screening questions before being allowed to proceed; in fact, they were prohibited from using the automated-check-in machines as you can see in the photo below.
In response to the COVID-19 pandemic, US Treasury Secretary Steven Mnuchin announced on Friday that the U.S. filing deadline has been postponed from April 15th to July 15th. Taxpayers and businesses will have an extra three months to file returns and make payments without interest or penalties.
The outbreak of COVID-19 began to impact Hong Kong in late January, following the initial spread of the virus in mainland China. In the first weeks of the outbreak, supply of hygiene related goods, like masks and hand sanitizer, was unable to meet the sharp increase in demand.
Mobility’s scope of responsibility continues to broaden, challenging the function’s ability to advise their customers in a progressively complex global business environment.
AIRINC is partnering with United Healthcare, GTN, and others to host an exciting Detroit-area Global Benefits Forum. This is a follow on to our well-attended and valued event on China last year.