FedEx TA review
#21
Gets Weekends Off
Joined APC: Jan 2007
Posts: 331
Can someone with vast amounts of contract knowledge point out where the company needs our permission to open a new domicile or FDA? I can't find it...but my legalese is pretty weak.
I thought we would be giving away leverage on the FDA loa, but the only leverage I see that we have is our ability to NOT bid it. Didn't seem to keep HKG from opening, and that was with a vastly inferior LOA which is still in force. Someone correct me...please.
I thought we would be giving away leverage on the FDA loa, but the only leverage I see that we have is our ability to NOT bid it. Didn't seem to keep HKG from opening, and that was with a vastly inferior LOA which is still in force. Someone correct me...please.
#22
The Consumer Price Index was "jiggered" a few decades ago to exclude volatile items such as fuel and food. The real inflation rate including those items is hard to find, various economists have pegged actual inflation at anywhere from 4 to 8 percent for the last several years. Plus with the Fed printing dollars like mad, that will eventually devalue the money you already have. So I'm thinking (I could be wrong, and I usually am) that 3 percent is just helping our losses of actual earnings to be slightly less painful.
Not that there's anything wrong with that! It's a tough call, the Company is used to us caving pretty easily on things, myself included. Sorry guys. Keep professional in the cockpit, stay safe.
Not that there's anything wrong with that! It's a tough call, the Company is used to us caving pretty easily on things, myself included. Sorry guys. Keep professional in the cockpit, stay safe.
#23
They can open all the new FDA's under sect 6. But, as with HKG and CDG, they needed tax equal and other things to make it work better for them. And the enhanced option under the last LOA gave it to them. We no longer get our foreign earned income exclusion, household goods shipment, and many other things with the (un)enhanced option.
#24
The reason why we don't get a foreign tax exclusion is because HKG & any EMEA country DEMAND that their respective country's various taxes be paid. Foreign tax exclusion is NOT an inalienable right guaranteed to US citizens under the Constitution just because you happen to live & work outside of the US. The host country gets to decide if and then how much taxes THEY want YOU to pay, if any, because you are living and working in THEIR country, not yours.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
#25
The reason why we don't get a foreign tax exclusion is because HKG & any EMEA country DEMAND that their respective country's various taxes be paid. Foreign tax exclusion is NOT an inalienable right guaranteed to US citizens under the Constitution just because you happen to live & work outside of the US. The host country gets to decide if and then how much taxes THEY want YOU to pay, if any, because you are living and working in THEIR country, not yours.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
#26
The reason why we don't get a foreign tax exclusion is because HKG & any EMEA country DEMAND that their respective country's various taxes be paid. Foreign tax exclusion is NOT an inalienable right guaranteed to US citizens under the Constitution just because you happen to live & work outside of the US. The host country gets to decide if and then how much taxes THEY want YOU to pay, if any, because you are living and working in THEIR country, not yours.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
I am well aware, and agree with you. And no kidding, the FDA is not in SFS. You miss my point which was in response to thebaron.
With the current FDA LOA we have tax equalization due to the fact that the host country wants us to pay taxes into their system. And the Company isnt going to leave it up to individual pilots, on their own, to pay those taxes. The tax equal was a change with the FDA LOA under section 6 and the (un)enhanced version. And, it is not ones Constitutional right, it is a right under the US tax code. Maybe you missed my point, or I didnt make one! And, the reason why we didnt get the exclusion is because we didnt negotiate for it. And..... it was probably the top .1% of wage earners.
#27
Not true.
The reason why we don't get a foreign tax exclusion is because HKG & any EMEA country DEMAND that their respective country's various taxes be paid. Foreign tax exclusion is NOT an inalienable right guaranteed to US citizens under the Constitution just because you happen to live & work outside of the US. The host country gets to decide if and then how much taxes THEY want YOU to pay, if any, because you are living and working in THEIR country, not yours.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
The Pillipines and the land of not quite right didn't require FedEx nor their employees to pay an exorbitant amount of Pillipine taxes for us to have an hub there. They literally gave us Subic Bay, tax free and all the rest of that stuff just to inject some life into their paltry economy and it's anemic growth. Hence, guys based there enjoyed the foreign tax exclusion, lived like kings in an economically depressed area, and garnered the benefits of being in the top 1% of that country's wage earners.
HINT: We are not in the Phillipines any more -- it's the same game but now played under a different set of rules because the host country gets to make the rules. Simply stated, the foreign tax exclusion has nothing to do with FedEx -- it has everything to do with the host country. They want THEIR taxes paid -- either by you or your company.
Without mandatory tax equalization, FDA pilots could still take advantage of the foreign earned income exclusion right now, but they would also be liable for any foreign tax liability. Under tax equalization, the company reaps the benefit of the foreign earned income exclusion, pays any foreign taxes due, and the pilot pays taxes as if they were U.S. based.
The reason this is contentious is that many feel that they could do better by paying the foreign taxes and the U.S. taxes themselves...without dealing with tax equalization.
Sorry for the redundant post, iarapilot...
Last edited by subicpilot; 02-12-2011 at 03:53 AM. Reason: Department of redundancy department...
#28
Actually, the foreign earned income exclusion is IRS tax law. It has nothing to do with the foreign country, in that you can take the exclusion whether or not your host country is taxing you.
Without mandatory tax equalization, FDA pilots could still take advantage of the foreign earned income exclusion right now, but they would also be liable for any foreign tax liability. Under tax equalization, the company reaps the benefit of the foreign earned income exclusion, pays any foreign taxes due, and the pilot pays taxes as if they were U.S. based.
The reason this is contentious is that many feel that they could do better by paying the foreign taxes and the U.S. taxes themselves...without dealing with tax equalization.
Without mandatory tax equalization, FDA pilots could still take advantage of the foreign earned income exclusion right now, but they would also be liable for any foreign tax liability. Under tax equalization, the company reaps the benefit of the foreign earned income exclusion, pays any foreign taxes due, and the pilot pays taxes as if they were U.S. based.
The reason this is contentious is that many feel that they could do better by paying the foreign taxes and the U.S. taxes themselves...without dealing with tax equalization.
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