If you haven’t tuned in to international tax yet, the continuous tax year might be the moment do finally do it. Multinational firms doing business in the United States as well as in various other countries or that wish to branch out to the United States are confronted with more challenges compared to ever before, it would seem.
Although the worldwide market and also international teamwork is flourishing, company execs in Miami and also throughout the United States are relying on their tax obligation directors and also tax obligation attorneys with a background in cross border tax and international tax law for suggestions as well as strategy.
Right here are some of the obstacles of international taxation that are best fixed with the help of a tax lawyer serving Miami as well as other major cities and states in the United States.
Translating the implications of the U.S. tax reform
With the most recent tax reform in the USA reducing the corporate tax rate from 35 percent to 21 percent, the firms have already started reassessing their annual reports. It is thought that the U.S. will certainly come to be a more attractive destination to establish operations, motivating brand-new investments and business operation launches from multinationals.
When it comes to the foreign-owned business doing business in Miami and throughout the United States, the impacts of the reform are yet to be seen as the year progresses. An international tax lawyer can analyze the changes to the law, taking into consideration the ramifications and possible effects on your business.
Taxation of internet-based companies
More and more services are not only developing their operations around the world, yet are using the web to do so. Because of this, digital economy is on the rise with a burning question still unresolved: what are the ways to tax an internet-based company? The problem was partly dealt with in BEPS – OECD/G20 Base Erosion and Profit Shifting package. An interim record on the results acquired up until now will be presented in April 2018.
If you are an online-based organization, you will be impacted by the changes, which is why you should seek representation from a lawyer that not only specializes in international tax, but also keeps abreast of all the novelties concerning digital economy.
Country-by-country tax report
Country-by-country (global) reporting is a method of providing a clear summary of an international’s business, comprising all individual countries where they operate. Multinationals with headquarters in the U.S. are to file the reports by the end of 2018.
Some businesses like Vodafone plan to make their country-to-country report public by releasing it with explanatory notes. The company wishes to generate more trust in their brand.
Various multinationals with headquarters in Miami might be planning to do the same. If you are considering such an action, speaking with a knowledgeable international tax lawyer is suggested to ensure you accomplish transparency yet protect sensitive data.
Tax lawyer with a background in international and corporate tax
Brunoro Law boasts Paula Brunoro-Borokhov, the principal attorney specialized in in international and also corporate tax law. Attorney Brunoro-Borokhov is accredited in the USA and Brazil and is proficient in English, Spanish, Portuguese as well as French. She is the best lawyer for international companies intending to establish operations in the U.S. and U.S. companies preparing to do business in South America or overseas.
Contact Brunoro LAw for a no-fee no-charge consultation.