What is a GSOE and why is it important to my mobility program?
Katie Lenehan, senior vice president of global mobility with Ineo Relocation Technologies, joins us to break down the critical role a GSOE plays in your reporting process.
Complete transcript: “Hi, my name is Katie Lenehan, and I’m senior vice president of global mobility with Ineo Relocation Technologies. Often we hear in the industry words used that may sound a little bit mysterious in mobility and specifically in global compensation.
One of those might be GSOE. And you may be thinking, ‘What is a GSOE and why is it important to my mobility program?’ Well a GSOE is terminology for a global statement of earnings. And a global statement of earnings is a critical component to your entire reporting package. When done correctly, a global statement of earnings will pull together all of your payroll-related items for your expatriates on assignment, including any assignment-related costs, any payroll items and any items that may have been paid by your local offices at the host location.
You’re probably sitting there thinking, ‘Why would I care?’ You would care because your tax partner or internal tax team is going to use this information to ensure that locally within both your home and host locations, your payroll experts have enough information to be compliant with your mobility program, record taxes as required in country and be able to have your tax partners assist your employees with completing their tax returns.
So your GSOE, your global statement of earnings, is a critical component to the compliance of your mobility program. Thank you so much for watching, and good luck with your year-end and your global statement of earnings reporting.”