The Importance of Using an International Tax Accounting Professional

You might operate a business across the borders, or compete with numerous jurisdictions. To comply with statutory fillings, local tax laws and reporting requirements, as well as keeping up with all the new legislative changes, will be more than your company’s tax department can handle as a full-time job.

Compliance will only be half of this equation. The key for a successful business in a worldwide intensified business should be to keep tax strategies aligned and agile. All corporate strategies should be on track with the worldwide tax rate that is effective.

Most governments will tax you and/or your business on all income. These taxation systems can vary widely because there is no wide universal rule. This can potentially cause double taxation or in some cases no taxation.

Any multi-national company normally employs a professional international tax accounting specialist to assist them and decrease their liabilities on worldwide taxation.

About international tax accounting

All tax laws obviously differ drastically from country to country. A professional international tax accountant will understand and know the differences. Thus, they will be able to prepare your mother companies tax returns together with its foreign subsidiaries.

The preparation of your tax return only makes up a small part of international tax accounting. The tax planning field is demanding with many complications if your affiliated businesses trade in different countries. Tax, transfer, price, and planning is intimately related.

The tax rates in various countries differ from each other and most rules of taxes keep on changing. Some countries make tax planning so difficult due to the frequent changing of their rules and tax rates, as well as some having value-added tax and others don’t.

What an international tax accounting specialist can do for you?

They can relieve any stress due to uncertainty. You can avoid unpleasant surprises as a professional international tax accountant will collaborate with trust companies, accountants and attorneys.

They will do it abroad and locally and obtain from the IRS a written private ruling to guarantee your tax benefits. This will completely remove any risk of controversy.

Their services can include benefits to you if you:

Conduct international business which entitle you to foreign tax credits

If you use any foreign trust planning tool for an estate

Dealing with any kind of foreign gifts or inheritance

When you need a license across the borders for intangible products or intellectual property

You might chose to reform your existing trust but maintain its benefits of GST estate tax

They can ensure you peace of mind

They can assist you with the following:

To incorporate a foreign business in your country


Maximizing any foreign tax credits for you

Help you to establish a trust for an international inheritance

When you own a business which operate in any foreign country

With inheritance from family members or partners that live abroad

Investing, living or working abroad

The services an international tax accountant can offer

Their services can include:

R&D credits

Succession planning

Estate planning

International tax

Tax planning

State & federal tax compliance

They can assist you with complexities of the law on international tax which may include:

To navigate the Tax Act of Real Property with foreign investments

Structuring any transactions across the borders

Assisting you with acquisitions and mergers

Address any issues of transfer pricing between entities

Establish operating structures that is tax-effective

Implementing strategies of repatriation that is tax-efficient

To avoid any double taxation

International taxation will include transactions for both outbound and inbound, as well as for individuals and foreign companies

Assist you with service providers across the border to reduce withholding, as well as obtaining some treaty benefits

Identify any sourcing opportunities together with exceptions in reducing withholding taxes

Integrate any operations globally

Establish joint ventures or any new operations

International tax accounting is not an easy thing to do on your own. For best results and to comply with all laws it may be best to consult a professional in this field.