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New!
05/06/08
Only Korean
Accountant at Large Accounting Firm
Bi-Lingual
is competitive advantage for minority
The Chosun Daily News - Atlanta
(article is only available in Korean)
Form
1042 Information Reporting Requirements
China's 15 Year Science
and Technology Plan - What Does It Mean To Spawn "Indigenous Innovation"?
International
business is no longer a choice but a necessity for many companies in order
to remain competitive. Although technology has made communication easier,
business and tax issues have become more complex. HA&W can help overcome
the obstacles so you can realize the opportunities of international business.
HA&W is
an independent member of Baker
Tilly International, a network of high quality, independent accounting
and business services firms. Baker Tilly International is the 8th largest
network in the world by combined fee income of its independent members.
It is represented by 126 firms in 93 countries, with a combined fee income
of $2.3 billion and over 21,900 staff worldwide. The combination of our
professionals and Baker Tilly affiliates provides us with the resources
to address international issues anywhere around the globe.
In addition
to performing international audits and reviews, the members of Baker Tilly
continuously attend international tax conferences, have published several
international tax articles, and have held seminars on international tax
and accounting issues. Our clients need innovative approaches and we work
to deliver comprehensive business strategies to meet their global business
goals and objectives.
Doing
Business Internationally
Articles:
Publications:
Working
In...
These publications
are intended to give a general outline of the issues facing employees
who are sent by their employers to work internationally. They include
a mixture of practical and technical information to make the posting overseas
easier and less costly, in terms of both time and expenses. Click
here
Doing
Business In...
The
Doing Business In range of booklets give an overview of the rules
and regulations that govern businesses in various countries. The booklets
are a brief introductory guide for overseas enterprises considering the
expansion of their activities. This includes chapters on Business Entities
and Accounting, Finance and Investment, Employment regulations and Taxation.
It is not an exhaustive commentary, and professional advice should be
sought before any decisions are made. Click
here
Tax
Guides
Baker
Tilly International's Guide to regional taxes provides an easy to view
guide to the tax rates in each of the countries represented in the region.
The booklet covers company taxes, personal taxes, social security costs,
VAT and sales taxes, withholding taxes on payments abroad and other taxes.
The information in this guide was correct at the time of going to press.
Readers will be aware that tax rates and regulations are subject to frequent
change. It is essential to take specific advice before entering into proposed
transactions. Click
here
For more information
on our international business services, contact:
Areas
of expertise include:
In-Bound
and Out-Bound Services
We advise our clients on tax issues relating
to their operations, whether foreign-owned U.S. businesses or U.S.-owned
businesses operating abroad. Our knowledgeable professionals assist businesses
to properly structure international transactions to make it advantageous
from the tax standpoint.
Foreign-Owned
Businesses Operating in the U.S.
Foreign-owned businesses operating in the U.S. have certain compliance
requirements including required reporting of transactions to the IRS and
the Department of Commerce. We prepare these and all other necessary tax
reporting forms as required. One of the most important issues to businesses
interacting globally is transfer pricing. We spend considerable time with
our clients advising them on current IRS pricing issues. Additionally, we
review the options of operating as a subsidiary or as a branch of a foreign-owned
business, including all short- and long-term business tax issues.
U.S.-Owned
Businesses Operating Abroad
An important issue to businesses headquartered in the U.S. is foreign
tax credit utilization and deferral income. We review with our clients the
need to incorporate when expanding into foreign markets. In many cases,
we introduce our clients to both our associates in Baker Tilly International
and legal counsel outside the U.S. Advising on Controlled Foreign Corporation
(CFC) status is an ongoing activity with clients expanding overseas. There
are many changing tax issues relating to CFCs, ranging from change in deferral
of income to reporting requirements.
As businesses
begin operating in a global environment, questions arise regarding the need
to withhold U.S. taxes on payments. We work closely with our clients advising
them on what type of payments and agreements requiring to withholding U.S.
income taxes.
Exporting
The U.S. has many export incentives ranging from borrowing export
funds to the tax incentives of forming a Foreign Sales Corporation (FSC).
We advise and assist clients in maximizing their profits by reviewing options
and alternatives in debt structures that enhance exporters’ businesses.
We also analyze exporters' profits in order to determine the advantages
of forming an FSC outside the U.S.
U.S.
Incentives Abroad
Since the U.S. taxes resident individuals on their worldwide income
and estates, it is important to properly plan foreign investments so they
do not have a negative tax impact. It is important to not only review the
U.S. tax consequences, but worldwide taxes as well.
Nonresident
Employees
Our services for nonresident employees include tax planning and
return preparation as well as due diligence with respect to their U.S. assets
and investments. We advise our clients on both income and estate tax issues
as well as investments which, if not properly structured, could be subject
to high U.S. estate taxes.
Immigration
Prior to immigrating to the U.S., there are many tax issues that
a person needs to recognize. Many persons with substantial income or assets
outside the U.S. need to consider tax planning in order to reduce possible
double taxation. We work closely with U.S. immigration attorneys and offshore
counsel to properly advise our clients moving to the U.S.
Expatriate
American companies with employees working abroad must consider
how to structure payroll tax policies to achieve maximum benefit for the
company and its expatriate employees. We can suggest the most advantageous
way to compensate expatriate employees. In addition, we assist expatriates
with ways to maximize foreign earned income exclusion.
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