Five Grant Thornton (GT) member firms have launched a new technology offering for global mobility services.
This application will help HR and international travel managers better manage the regulatory, tax and compliance issues that arise from a mobile workforce.
When employees accept an international assignment or are permanently transferred out of their home country for business reasons, their employer is required to provide support for ensuring continued tax compliance in addition to being responsible for the company’s obligations.
Our international mobility specialists are then called upon to inform organizations of the scope of tax, social security, benefits and human resource requirements they need to consider in order to ensure compliance and maximize their investments.
The new platform, developed jointly by GT member firms in the United States, the United Kingdom and the Netherlands as well as the Canadian member firms in Toronto and Montréal, equips clients by providing them with real-time monitoring, analyses and information on their international mobility programs (e.g. schedules, deadlines, follow-ups, dashboards, etc.).
Martin Caron, Senior Manager, Global Mobility Services at Raymond Chabot Grant Thornton says: “This new tool allows organizations with a mobile employee population and experts in the GT network to share information in real time, allowing them to better ensure compliance during international assignments.”
Caron adds: “For example, an employer can easily track the status of tax returns for employees deployed to China, the United States or Canada.”
Workers abroad also have access to the application and can use it, among other things, to file their tax documents. Each of the parties involved benefits from the application according to their role in the program, in a high-performance, easy-to-use and fully secure virtual environment.
Contact us for more information about our international mobility services or the new platform.
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Preparing SMEs for a rapid recovery from the COVID-19 crisis
Montréal, April 22, 2020 – The COVID-19 pandemic has sent shockwaves through the business community and forced many small- and mid-size businesses to either scale back their operations or stop them altogether. As a firm that’s committed to helping businesses survive and thrive, Raymond Chabot Grant Thornton has just launched Solutions for SMEs, a new program for developing effective business continuity and recovery strategies in uncertain times.
Emilio B. Imbriglio, President and CEO stated: “Ensuring that Quebec businesses succeed is key to getting the economy back on its feet. They’re the backbone of our economy and they need to be ready for a strong comeback—and that means preparing for a new reality starting now. Agility, innovation and a proactive approach are more important than ever before. And that’s precisely where Raymond Chabot Grant Thornton can be of assistance.”
Eight priority actions for effective recovery planning
Risk management partner Vincent Cartier said: “All businesses are facing a new reality that requires them to be more flexible and adaptable. There will be bumps in the road to recovery and leaders will have to be vigilant, organized and agile to respond quickly and effectively.”
To this, management consulting partner Pierre Fortin added: “In just a matter of weeks, our world has changed. Yesterday’s imperatives no longer apply, and consumer behaviours have shifted. That’s why Raymond Chabot Grant Thornton has developed a program with eight priority actions to help businesses redefine their business continuity and recovery strategies.
Solutions for SMEs uses a personalized approach to address each company’s unique needs through the following eight priority actions:
1. Managing cash flows
2. Supporting managers and employees
3. Stabilizing and boosting revenues
4. Managing procurement
5. Monitoring business performance
6. Managing risks
7. Prioritizing digital transformation and cybersecurity
8. Reassuring stakeholders
Management consulting partner Nancy Jalbert stated: “Organizations will need to revisit their procedures, including operations and procurement, and many will also need to review their digital transformation plans regularly as the situation evolves. Agility is essential. It has become a defining feature of any company that wants to be strong, efficient and competitive.”
Raymond Chabot Grant Thornton will provide an overview of the Solutions for SMEs program during a webinar to be held on April 23 at 10:30 a.m. To register, click here.
Eligible businesses interested in taking advantage of Solutions for SMEs can obtain funding for it through the Gouvernement du Quebec’s Concerted Actions Program for Maintenance in Employment (PACME).
About Raymond Chabot Grant Thornton
Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals help accelerate growth. A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton boasts more than 2,800 professionals, including approximately 200 partners, working in over 100 offices across the province of Quebec and in the Ottawa and Edmundston regions.
Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton global organization, our global footprint spans across more than 140 countries with over 56,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.
Source:
Francis Letendre
Head – Public Affairs
Raymond Chabot Grant Thornton
Tel: 514-390-4201
[email protected]
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2020-2021 Quebec Budget: Raymond Chabot Grant Thornton Would Have Liked to See More Tax Relief for Businesses
QUÉBEC CITY, March 10, 2020 – Raymond Chabot Grant Thornton expressed its opinion on the Quebec budget tabled today and published its tax bulletin that was drafted today by a team of tax experts present at the lock-up in Québec City.
The firm welcomes François Legault’s government second budget and appreciates the measures aimed at protecting the environment with the $6.2B electrification and climate change framework policy over six years, investing more massively in education with additional funding of $1.5B between now and 2025, and supporting investments, innovations and improved business productivity with more than $1B.
However, Raymond Chabot Grant Thornton would have expected a greater reduction in the corporate tax burden and more convincing support for entrepreneurial succession, two key elements for ensuring the sustainability of Quebec’s economic drivers.
A fair, incentive-based tax system!
For several years now, Raymond Chabot Grant Thornton has been calling for a review of the Quebec and Canadian tax systems. Emilio B. Imbriglio, President and CEO stated: “In addition to having lost its advantage over the U.S. since the President’s corporate tax reform, our small business tax system is outdated, and the corporate tax burden is too high. To give a real boost to our businesses, it would have been better, even necessary, to reduce the general corporate tax rate to keep it at a more attractive level compared to the United States and review corporate and family taxation, which includes several unfair provisions that are not suited to today’s realities.”
Appropriate measures for business growth
The budget contains key announcements for the economy and its businesses that the firm would like to highlight, specifically as it relates to the new tax credit for investment and innovation, the C3i. Tax Partner, Luc Lacombe said: “This $525M tax support over five years is an excellent way to accelerate the purchase of equipment in order to allow businesses to innovate and remain more competitive. In addition, the incentive deduction for the commercialization of innovations (IDCI) is good news for reducing income taxes on products developed and marketed using Quebec corporations’ intellectual property. The synergy capital tax credit is also a significant measure for businesses that want to support innovative enterprises’ growth. This credit is equal to 30% of the investment value up to $750,000. Moreover, funding announced for regional economic development of close to $1B between now and 2025, including $316 million for the tourism sector, is also a strong budget provision to ensure a strong and prosperous Quebec.
Doing more in immigration, a key to Quebec’s success
Despite these announced measures to better integrate immigrants into the labour market, there is still work to be done such as provide foreign workers quickly and effectively. Marc Audet, President of AURAY Sourcing, a subsidiary of Raymond Chabot Grant Thornton stated: “The Quebec government must streamline the administrative aspects for temporary workers by simplifying the conditions and procedures faced by SMEs in recruiting labour. The budget is providing $10M to attract the most qualified foreign talent to Quebec. Employers’ efforts to recruit internationally would require more convincing government assistance.”
Marc Audet added: “The Quebec Immigrant Investor Program needs to be maintained, in a renewed format, because of the positive spin-offs for the Quebec economy, both in terms of the candidates’ profile and their contribution to financing business projects and government programs. We sincerely hope that the program’s suspension will not last too long, allowing Quebec to maintain its leadership with this globally coveted clientele particularly as a result of strategic partnerships developed between various government departments and the private sector.”
Going beyond entrepreneurial intentions and approaches
If Quebec wants more owners, and consequently more businesses, the ownership rate must increase, rather than decrease, as is currently the case. Éric Dufour, Regional Vice-President and National Business Transfer Leader stated: “New entrepreneurs need to move from intent to start-up and therefore need to have a better understanding of all the government support programs available to them. The success of Quebec’s entrepreneurial succession also depends on businesses’ ability to develop a formal, written succession plan and on greater financial support from the government to ensure that leaders are accompanied by professionals. We reiterate that, in order to ensure the effective implementation of succession plans—an essential condition for the success of business transfers—the Quebec government must develop new mechanisms particularly as it relates to the certification of professionals and accreditation of succession plans.”
Imbriglio stated: “The budget contains some sound measures for our economic drivers. However, the tax burden on businesses remains high, and the economic environment could be difficult. In 2021, the Quebec government is forecasting a balanced budget, after the payment to the Generations Fund. Let’s hope that our companies’ perform according to their ambitions and that our public finances remain healthy.”
Please consult Raymond Chabot Grant Thornton’s pre-budget recommendations submitted to the Canada and Quebec Finance Ministers.
About Raymond Chabot Grant Thornton
Raymond Chabot Grant Thornton is a professional services firm dedicated to the success of organizations and their leaders since 1948. The firm’s advisors are committed to helping clients thrive by obtaining a deep understanding of what is important to them, their business and their industry. This knowledge, combined with a team of motivated and talented professionals, helps accelerate growth. A Quebec and Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization, Raymond Chabot Grant Thornton relies on a team of more than 2,800 professionals, including approximately 200 partners, working in over 100 offices across the province and in the Ottawa and Edmundston regions.
Together with Grant Thornton LLP, another Canadian firm, and the Grant Thornton global organization, our global footprint spans across more than 140 countries with over 56,000 people who provide real insight, a fresh perspective and agility to keep clients moving ahead.
Source:
Francis Letendre
Head, Public Affairs
Raymond Chabot Grant Thornton
Tel: 514-390-4201
Email: [email protected]
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We are pleased to highlight the appointment of Johanne Quessy as Regional Vice-President of the Abitibi-Témiscamingue region, effective March 5, 2020.
A Chartered Professional Accountant (CPA, CA) and tax specialist with our firm since 1994, Johanne Quessy became a Partner in 1998. She also sat on the Partnership Board from 2016 to 2019.
During her career, she has been involved with numerous organizations in her region, such as the Corporation de développement industriel et commercial de Val-d’Or, initially as a director, then Chair.
Johanne is the first woman to take on the role of Regional Vice-President and we are delighted with her appointment. “Our journey is inspiring and I look forward to our future.”