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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 . 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

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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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