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ARTICLE · 19 SEPTEMBER 2011

Global Stock Plans Update – Summer 2011

Jones Day
Jones Day
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This Update highlights some of the principal new developments applicable to employee stock plans in selected jurisdictions worldwide.

United StatesTax
Robert Marshall II
Robert Marshall II
Rosalind Connor
Rosalind Connor
Jesús Gimeno
Jesús Gimeno
Friederike Göbbels
Friederike Göbbels
Donald Hess
Donald Hess
Ke-Wei William Hsu
Ke-Wei William Hsu
Shoshana Litt
Shoshana Litt
Georg Mikes
Georg Mikes
John Papadakis
John Papadakis
+7 more
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This Update highlights some of the principal new developments applicable to employee stock plans in selected jurisdictions worldwide. If you have any questions about these developments or need any assistance, please do not hesitate to contact one of the Jones Day lawyers listed below.

Developments in Asia

China

Application of Special Tax Formula for Employees of Lower Tier Subsidiaries Expanded

The State Administration of Taxation in China recently issued Tax Bulletin No. 27, which became effective on May 1, 2011. Bulletin 27 essentially repealed part of Notice No. 461, which was issued in August 2009 and generally provided for special formulas to compute individual income tax on stock options, SARs, and restricted stock awards. Due to the fact that individual income tax returns are filed monthly rather than annually in China, the special formulas were introduced in order to give the beneficial effect of spreading the income earned from such awards (which

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