International Tax Resources

by **gavino** on Wed Oct 05, 2011 4:03 pm

Hi everyone,

I have just been appointed as the CFO of a small UK-based international group with subsidiaries in US, India, Romania & Switzerland.

I am keen to carry out a tax review to identify the current status and any potential issues or opportunities, but am surprised to find I am struggling to find any free or reasonably priced resources or books to assist.

I have a decent understanding of UK CT and basic international tax (including transfer pricing) but am looking for some kind of framework that I can use to review the status and start to develop a strategy - at which point I will then get some real professionals involved!

I suppose I am looking for things like an international tax planning checklist, tax audit programme and tax strategy template.

Any help much appreciated.

Gavino

by **Generix** on Tue Oct 11, 2011 4:34 pm

Hi, not sure how small you are...therefore my comment might be moot, but wouldn't you generally appoint a tax manager to deal with such issues?

In any case, I know plenty of people who would likely be willing to meet and give such guidance (in the hope of getting some paid services in return later)

(no such thing as a free lunch). [this assumes no one here has already made such an offer].

Anyways all I would say is DON'T FORGET ABOUT THE VAT AND CUSTOMS DUTY!!!!!!

I would start with looking at how things are done now (compliance wise - i.e. from input into system through to returns), what is claimed/what is not claimed, inter company charges and TP, where you are taxed on what % of profits, where you can shift tax to to pay less.

I don't do direct tax so that might be the worst plan ever!!! lol

If you need a VAT plan though, give me a shout

by **PKIB** on Tue Oct 11, 2011 9:22 pm

I agree that a good start is to get a handle on the compliance across all the group. Also take a look at any transfer pricing, especially for assets in the group that might not be obvious (eg IP). Looking at how to extract profits from overseas would be useful but probably better to work out what the business needs are and where the funds need to be in the medium to long term.

Take a look at CFC position and historic returns, and on a related point is the group within the world wide debt cap legislation? I have been looking at this recently and the compliance is both complicated and horrendous even if you are fairly sure that it doesn't apply.

International tax planning in the UK is becoming more and more complex due to anti avoidance rules that keep getting introduced so almost certainly you will need professional advice before doing anything.

by **gavino** on Fri Oct 14, 2011 11:02 am

Thanks guys, that is helpful. I have managed to find some quite useful resources and will post links here later for others who may have similar needs. 100% agree that it will require professional input before making any changes to the status quo. Will definitelty consider the un-free lunch option in due course - and yes, I think too small for a tax manager just yet...!