International Tax Consultant : What Do They Do?

Bruce Markey
 


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If you own and/or operate an international business, it is important for you to work with an international tax consultant. By doing so, you will ensure that your business runs smoothly, not only in your home country, but also within every country in which it operates. Don’t leave your taxes up to chance with individuals who do not understand the inner workings of international law and taxation.

What is International Taxation?

By choosing to work with an international tax consultant, you will ensure that your taxes are done properly, taking into account the laws and practices in place within every country that your business operates. Tax laws differ between countries, making it difficult for many companies to navigate a world that no longer contains clear and defined borders. Although technological advances are making communication and business easier, there are many issues that one may encounter as a result of running a company that spans several countries. These international taxation issues especially cannot be taken lightly; failure to exercise precaution when dealing with such problems may result in the IRS or other federal tax agencies becoming involved. It is an unnecessary risk to take. You potentially damage your business by failing to understand tax processes, not only within the country that the business originates, but also within any country in which it operates.

How International Tax Consultants Help Your Business Succeed

International tax consultants can help a wide range of businesses, multinational corporations, lawyers, and accountants decrease their global tax liabilities. By understanding exactly how income is taxed across several individual nations, these tax consultants ensure that all of your books are in order from the very beginning. They also understand how to access any available tax reductions or foreign credit aids that exist in each of the countries in question, which ultimately assists in keeping tax costs down for your international business. Your average accountant has no way of knowing the ins and outs of each country’s taxation process, which is why it is crucial that, as the owner of a multinational corporation, you seek the advice of a highly specialized individual.

International Taxation Issues to Avoid

By failing to enlist the help of these trained and skilled individuals, your business may become involved in one of the many possible taxation issues that befall those who do not work with international tax consultants. The most common issues to arise often involve double taxation or no taxation on the income of a multinational corporation. There are many differences in international law, as well as global differences in governments. These and other issues come about simply because each country has a vastly different approach to corporate taxation. Extensive and precise tax planning is required to remain compliant and maximize your tax efficiency by lowering your business’s overall tax rate.

As someone in charge of an international business, there are many other important issues that require your time and energy. Do not let the stress of international taxation take up too much of your time, when there are skilled professionals that will do the work for you. International tax consultants can put an end to your worries regarding taxation before they even arise.

Esquire Group, a boutique international tax consultancy firm specializing in tax consulting ( Esquiregroup.com/International-Tax-Consultant ), tax planning and compliance and helping corporate and individual taxpayers with Offshore Voluntary Disclosure Program, asset protection, and US expat taxes. To learn more about us, visit EsquireGroup/about.

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