Tag: compensation

Hitachi, Ltd. (TSE: 6501) is promoting a modal change toward global growth, as part of efforts to “Support people’s quality of life with data and technology that fosters a sustainable society” as laid out in Mid-term Management Plan 2024 (MMP 2024). Hitachi announced today that it has amended the executive compensation system to further accelerate growth as a global company, and to further strengthen links between increases in corporate value and compensation. With regard to employee compensation as well, Hitachi has introduced a framework in which individual targets are linked to the company’s targets, and compensation is determined according to ... Read more

Compensation levels for work injuries and occupational diseases to increase from April 13 *****************************************************************************************      The Labour Department (LD) today (March 17) announced that the levels of compensation for employees injured at work or suffering from prescribed occupational diseases under the Employees’ Compensation Ordinance (ECO) or family members of deceased employees, persons suffering from pneumoconiosis or mesothelioma or family members of persons who die as a result of these diseases, and persons suffering from occupational deafness will be increased on April 13.      The Legislative Council on March 15 passed three resolutions to increase the levels of 18 compensation items ... Read more

At the time of introduction of GST, the Constitution amendment provided that the Parliament, by law shall provide compensation to States for a period of five years for loss of revenue due to introduction of GST. Accordingly, the GST Compensation to States Act was legislated which provides for release of compensation against 14% year-on-year growth over revenues in 2015-16 from taxes subsumed in GST. This compensation cess is credited to the compensation fund and as per the Act, all compensation is paid out of the fund. Presently, cess is levied on items like pan masala, tobacco, coal ... Read more

According to Michael Gray, CPA, “Sometimes Congress passes legislation that’s retroactive. This change relates to millions of taxpayers who received unemployment compensation during 2020 and who are dutifully submitting their federal income tax returns. They should wait this year until a new exclusion can be processed.” While many are excited to receive another federal government stimulus check, those who received unemployment compensation during 2020 should be aware of a tax break in the American Rescue Plan Act of 2021, COVID-19 relief legislation passed in Congress on March 10. If a taxpayer (same threshold for a single or joint return) has ... Read more