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21 October 2013. BKR ITC Tax Breakout Expatriate tax considerations Mark Abbs . Agenda. Introduction Expat tax services Hot topics Global coordination. 1. Expatriate Tax Services. “Ideas on helping you broaden your services” Overview & benefits Suite of possible services Case study.

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bkr itc tax breakout expatriate tax considerations mark abbs

21 October 2013

BKR ITC Tax Breakout

Expatriate tax considerations

Mark Abbs

slide2

Agenda

  • Introduction
  • Expat tax services
  • Hot topics
  • Global coordination
slide3

1

Expatriate Tax Services

  • “Ideas on helping you broaden your services”
  • Overview & benefits
  • Suite of possible services
  • Case study
slide4

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
slide5

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
slide6

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
slide7

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…
slide8

2

Hot topics

  • STBVs - Resident @ home / work overseas
  • Big 4 clients
  • Case study
slide9

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?
slide10

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
slide11

Case study – Swedish listed company

  • Global COO ->
    • Tax
    • Personal planning
  • 30+ expats – china, netherlands, us, uketc
  • Pension
  • Payroll
  • Benefit reporting
  • Share reporting
slide12

3

BKR Global Coordination

  • “Ideas on using the BKR associationto sell more work / deliver a better service”
slide13

Global coordination

  • Direct or coordination
  • BKR - brochure
  • Joint marketing?
    • Specific locations?
    • Specific topics?
  • Shared targets / clients
  • Partner agreement - template
slide15

Case studies

  • US clients
    • 10+ individual clients
    • Fortune 100
  • German bank – UK, France and Germany
  • Technology – UK & Ireland
slide16

What next?

  • Thoughts?
  • Volunteers?