TAG Tax: International Tax (North America)

Meet the Co-chairs - TIAG

Polantz, Ray
Cohen & Company (Ohio)

Goldman, Lisa S.
Berdon LLP

Contact: Gordy Jones

The obligation for registered investment companies (RICs) to pay foreign capital gains tax is not new by any means, but it is gaining more attention lately, making it imperative for fund management to take note.

Foreign tax withholding on interest and dividends has been and continues to be the responsibility of the fund custodian, monitoring and remitting taxes based on a specific country’s legislation. Foreign capital gains tax, on the other hand, traditionally has been the responsibility of fund management. The custodian is not responsible for tracking tax basis of investments; therefore, it does not have the information to appropriately pay the foreign capital gains tax.

Read more: Monitoring Foreign Capital Gains Tax Exposure for RICs

For all UK companies operating overseas, planning for and managing potentially complex international tax arrangements can be a time consuming journey into the unknown with hidden traps and pitfalls along the way.

Anderson Anderson & Brown’s (AAB) new specialist training course “Navigating International Tax for Companies Operating Overseas” is positioned to support businesses to prepare, plan and save costs through the efficient management of international tax in their overseas projects and businesses.

Read more: Navigating International Tax with Specialist Training from AAB