Doing business abroad opens more doors than just new streams of revenue. The opportunity to interact with and learn from different cultures is beneficial and gratifying. However, most U.S. and foreign nationals face a complicated line of changing regulations, tax implications and compliance issues participating in a global economy. Whether it’s the impact of Tax Reform on international business, such as the Global Intangible Low-Taxed Income (GILTI) provision, or the ever-evolving Foreign Account Tax Compliance Act (FATCA), Windham Brannon’s team will help you navigate the complexities of inbound and outbound business.
Our international team will ensure your objectives are met while complying with domestic and international tax laws.
An additional thanks to Tax Reform, the Global Intangible Low Tax Income, or GILTI, is an effective tax on corporate earnings that exceed 10 percent of a company’s invested foreign assets. GILTI’s minimum tax rate varies according to jurisdiction and can be complicated to comply with. Windham Brannon works with business owners and executives to ensure that if they’re subject to GILTI, all applicable forms and filing are completed accurately and completely.
International tax compliance can create significant financial burdens and resource strains on even the most well-run company. Qualified outside advisors are often needed to streamline processes, monitor foreign tax rules, and facilitate tax and operational entities to maximize cost savings. Windham Brannon can create comprehensive tax planning strategies and compliance measures for inbound and outbound investments, including tax and audit requirements, tax compliance related to foreign operations and activities, and more.
Created in 2010 but modified thanks to Tax Reform, FATCA requires U.S. taxpayers, or foreign entities with primary U.S. ownership, with foreign bank accounts to accurately and completely report all income. Windham Brannon can assist taxpayers in filing annual reports with the IRS as well as managing the tax liability of foreign-held assets.
Manufacturers, producers, and businesses that resell or export U.S.-produced goods to foreign locales can benefit from an interest charge domestic international sales corporation (IC-DISC). The value of these entities is the ability to defer income recognition for foreign sales as well as reducing taxable income for corporation shareholders in the form of qualified dividend income. Windham Brannon can manage the establishment and compliance of Interest Charge Domestic International Sales Corporations (IC-DISC) for businesses and shareholders who do business overseas.
It’s estimated that around 30 percent of worldwide trade is the result of intercompany transactions and cross-border sales. Significant issues can arise in adhering to transfer pricing rules and setting appropriate transfer pricing methods so that efficiencies lead the way for profitability and competitive advantage, no matter which country the tax liability is in. Whether your business is establishing foreign interests, you need help coordinating multi-country tax planning or assistance in transfer pricing issues, Windham Brannon can develop plans and perform due diligence for cross-border sales and structuring focused on tax-efficient profit repatriation.
Thanks to technology and virtual or cloud services, not only can businesses be located anywhere, so can their employees. When this happens, Windham Brannon is able to step in and help companies coordinate the management of foreign and U.S. tax benefits and services for expatriate employees.
Doing business abroad comes with a complicated and seemingly never-ending list of tax compliance measures. Serving clients in 75 countries, our international taxation experts specialize in global tax planning, structuring and consulting to ensure your objectives are met while complying with domestic and international tax laws. We also have the benefit of AGN International, an alliance of worldwide independent accounting firms, and we can use this resource to expand the depth of our international knowledge for global clients.
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