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For example, most countries tax partners of a partnership, rather than the partnership itself, on income of the partnership. A common feature of income taxation is imposition of a levy on certain enterprises in certain forms followed by an additional levy on owners of the enterprise upon distribution of such income.
With our legal, transfer pricing, tax controversy, and indirect tax teams, we are superbly qualified to assist you with all aspects of your international taxation needs. The University of Melbourne’s Master of International Tax is available to both law and non-law graduates seeking global context for their tax law practice. Students learn how individuals and businesses manage foreign income, how tax systems operate in a global economy and the role of the OECD and the UN in managing bi-lateral tax treaties, among other subjects. Melbourne Law School’s Tax Group is home to international taxation research and hosts regular events.
The attorney will give you the help you need to set up a smart and legal financial and business plan for your company that is expanding from the U.S. offshore, or seeking to do business in the U.S. from offshore. If you are a foreign national in the United States or a U.S. citizen living at home or abroad and you hold significant foreign assets in excess of $10,000 it is likely that you have foreign disclosure obligations. Even mere mistakes can be punished harshly, so it is essential to obtain experienced international tax planning and FBAR compliance services. At the Tax Law Offices of David W. Klasing, my legal team and I are committed to helping you remain compliant with U.S. and international tax laws. We will apply our understanding of international tax treaties to help you maintain your citizenship with minimal tax burdens.
My Los Angeles international tax law team and I understand the tax treaties the United States has with several other countries. We will apply our taxation knowledge to protect your business from double taxation.
He advises on corporate, commercial, tax, intellectual property, regulatory, and product liability law. He provides tax support for clients’ cross-border transactions, including international tax planning and transfer pricing. He previously worked in the Shanghai office of the first French law firm established in Shanghai as well as a leading Chinese law firm. He has more than 18 years’ experience working extensively for mainly European clients. She has accumulated 24 years of experience in local and international taxation at Taxhouse, EY, and Andersen and industry experience in finance and accounting with Procter & Gamble.
“U.S. persons” abroad, like U.S. residents, are also subject to various reporting requirements regarding foreign finances, such as FBAR, FATCA, and IRS forms 3520, 5471, 8621 and 8938. The penalties for failure to file these forms on time are often much higher than the penalties for not paying the tax itself. Moving your tax offshore and leveraging international tax structures is a serious financial decision, and should not be taken lightly. Done wrong, it can have serious consequences both legally and financially.
The demand for serious German and English speaking legal, tax and business consulting for companies and private clients has increased. Such systems of taxation vary widely, and there are no broad general rules. These variations create the potential for double taxation and no taxation . Income tax systems may impose tax on local income only or on worldwide income. Generally, where worldwide income is taxed, reductions of tax or foreign credits are provided for taxes paid to other jurisdictions.
Working with multinationals and large local firms, she has provided structuring and transactional direct and indirect tax advice on the full range of corporate tax activities. She is a key member of the advisory team to the Romanian Ministry of Finance with regard to the introduction and amendment of the Fiscal Code. A jurisdiction relying on financial statement income tends to place reliance on the judgment of local accountants for determinations of income under locally accepted accounting principles. Often such jurisdictions have a requirement that financial statements be audited by registered accountants who must opine thereon.
For example, the U.S. imposes two levels of tax on foreign individuals or foreign corporations who own a U.S. corporation. First, the U.S. corporation is subject to the regular income tax on its profits, then subject to an additional 30% tax on the dividends paid to foreign shareholders .
That’s where an international tax attorney is able to provide help by making sure you or your company are in compliance and are legally reducing worldwide taxation. PwC’s international tax professionals have the resources, experience and local competencies to help companies like yours address your cross-border needs.
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