Why Growing Businesses Need A Global Tax Partner
The challenges of international taxation have never been more keenly felt than today. The rapid globalisation of companies and countries with the attendant movement of capital and people has meant that decisions on investment, establishment and relocation are matters of the highest concern for governments and business. Ongoing international tax developments are having a much greater impact than before on companies that operate across borders. The world may be opening up new and exciting opportunities for foreign expansion and moving abroad, but unfortunately there is no ‘one size fits all’ approach to tax.
Understanding different tax and labour laws, definition of citizenship, residency and non-residency, keeping relocating staff happy and managing payroll is one thing. Navigating the impacts and requirements of corporate domestic and foreign income tax, is another. Complex issues of transparency, country-by-country reporting, profit repatriation, foreign tax credit systems or internal trading compliance and transfer pricing, make it easy to see why tax can become a carrier to international growth or ambition.
The UHY global network of tax, audit and accountancy specialists take away much of that headache for businesses looking to grow internationally. Wherever clients set up, it is likely that there will be a UHY member firm on hand to help them. For UHY, capability is defined as much by the close working relationships between member firms on behalf of clients, as it is by experience and technical know how; and tax is no exception.
As companies grow and expand into new jurisdictions it is important that they protect their employees from tax penalties. Advice on completing local tax returns is a critical provision and something which UHY member firms are well placed to do. Going a step further and helping a business complete its local payroll is also in the UHY portfolio.
For information on international and cross border tax matters please contact a member of our team.