Adhering to diverse tax regulations
Different countries have varying tax compliance laws, making it challenging for businesses to be consistent.
It doesn’t help that the tax system is still catching up with our changing business landscape. The OECD’s new ‘Base Erosion and Profit Shifting’ initiative requires greater transparency around cross-border operations and introduces proposals for more effective taxation of the digital economy. Business that do not fit into established rules for identification of UK income face new taxes such as the Diverted Profits Tax and a proposed Digital Services Tax, and small businesses can unexpectedly find themselves facing hefty disclosure requirements.
Add to this the complexities of dealing with tax rules in the other jurisdictions, and the risk of mistakes or needless inefficiencies escalates. For example, investing overseas without appropriate tax due diligence can significantly increase your tax cost.
Our corporation tax services team has experience of providing and coordinating international tax advice for businesses of all types. Whether you’re undertaking your very first cross-border transaction or leading a complex restructuring project across multiple jurisdictions, we can make sure your tax is compliant, efficient and joined up.
