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BKR ITC Tax Breakout Expatriate tax considerations Mark Abbs

Explore the benefits of offering expatriate tax services, including income tax planning, employment taxes, social security tax, and more. Learn how to expand your services to meet the growing demand with case studies and hot topics.

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BKR ITC Tax Breakout Expatriate tax considerations Mark Abbs

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  1. 21 October 2013 BKR ITC Tax Breakout Expatriate tax considerations Mark Abbs

  2. Agenda • Introduction • Expat tax services • Hot topics • Global coordination

  3. 1 Expatriate Tax Services • “Ideas on helping you broaden your services” • Overview & benefits • Suite of possible services • Case study

  4. Why do this? • Number of expats expected to double by 2020 • Good business; 40% growth; $1m fees in 2 yrs • Annuity work • Senior relationships • Big brand names • Introductions to rest of firm • Supports firms international offering

  5. How to deliver the services? • Corporate client v. private client • ‘Package’ existing tax services • Add new ones • Leverage specialists • Home country only v. multi jurisdictions

  6. What could your expat tax services include? • Income tax: Personal tax planning * tax returns • Employment taxes: Payroll * employer reporting * cash flow management • Social security tax: Planning * compliance • Tax policy: Cost est calculations * assignment letter * policy • Permanent establishments

  7. Case study: IFDS (Statestreet Bank) • Ex Big 4 client • Fees $75k - 12 months • UK – planning * tax calcs * policy * tax returns • Australia – tax calcs * payroll * tax returns • Ireland – payroll * tax returns • Future: Thailand; Lux; Canada; US…

  8. 2 Hot topics • STBVs - Resident @ home / work overseas • Big 4 clients • Case study

  9. Short term business visitors • Income tax? • Treaty? 183 days – period? Economic employer? Recharges? Branch? • Permanent establishment risks? • Payroll? • Home / host location? Special agreements? Cash flow? Penalties? • Social security? • EU; Treaty; Rest of world • Policy? • Who pays the tax? Interest free loan? Tax return support?

  10. Big 4 (ex) clients • Big and small organisations • Senior VIPs – CEO / CFO etc • Small number of expats / senior VIPs • Dissatisfied with the service • Proactive? Responsive? Slow? Expensive? • A genuine alternative • Case study: listed mining company

  11. Case study – Swedish listed company • Global COO -> • Tax • Personal planning • 30+ expats – china, netherlands, us, uketc • Pension • Payroll • Benefit reporting • Share reporting

  12. 3 BKR Global Coordination • “Ideas on using the BKR associationto sell more work / deliver a better service”

  13. Global coordination • Direct or coordination • BKR - brochure • Joint marketing? • Specific locations? • Specific topics? • Shared targets / clients • Partner agreement - template

  14. Case studies • US clients • 10+ individual clients • Fortune 100 • German bank – UK, France and Germany • Technology – UK & Ireland

  15. What next? • Thoughts? • Volunteers?

  16. Contact us

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