5 Things to Consider in Choosing the RIGHT International Tax Advisor

We are already 3 months into 2018 and for many parts of Asia, Europe and of course, the Americas, it’s the dreaded tax season already.  For those expats in more senior positions and particularly business owners, tax compliance is a serious responsibility. 

Here are 5 things to consider in choosing your advisor

  • Firstly, the advisor needs to be part of a team.  It is highly unlikely that one person knows everything.  Furthermore, everyone has heard horror stories of one person shows that disappear, get swamped with work, or fall ill with no one to cover for them.  You need a team. 

  •  Secondly, your team needs to be qualified in multiple jurisdictions.  If for example, you’re an American in Scotland?  You need a team with members that are US and UK qualified.  It’s not enough that your consultant know US tax because so many provisions of UK tax law and the US/UK treaty modify how your situation may be treated.

  •          Thirdly, your team should be multi lingual.  There are too many nuances of tax law that gets lost in translation.  So if you’re an expat in China and your international tax team includes no Mandarin speakers or you’re in Jakarta and no one on the team speaks Bahasa Indonesia?  Then it’s time to find another tax team.

  • Fourthly, your team should be proactive in keeping up with changes in tax law.  Question your prospective tax consultant carefully.  If you need someone that is US qualified, she must speak expertly about radical changes to the way foreign owned businesses are now being taxes.  If you need someone Philippines qualified, they must have an opinion on Train 1 vs Train 2 etc etc.  If they are not keeping up with changes with the law, you may eventually get in trouble.

  • Fifthly, please ask about fees.  If the tax consultant does not have a clear and easy to understand schedule of fees?  You may be in for a surprise bill at the end of the process.

Derren runs the US tax desk for the Moores Rowland group.  Offices in 15 countries.  Visit us at www.AdvancedAmericanTax.org

Published here - https://www.myexpatsworld.com/international-tax-advisor/


Popular posts from this blog

How to Get an Expired Treasury Check Reissued by the IRS

Rise of Economic Nationalism - Post Pandemic

Dormant Foreign Corporations and Form 5471 - Rev. Proc. 92-70, 1992-2 C.B. 435