An international tax accountant is essentially a specific type of accountant who is specialized in the international tax law. These people are usually employed by international companies, accounting firms, large corporations and tax consultancies. Some of its most common duties include preparing tax returns, meeting with clients, research tax law and more.
If you have a company or a startup business and want to go global, it is crucial to count with the services of an international tax accountant. After all, this is the person that is going to take care not only of the most important legal issues about most of the business strategies you want to apply in another country, but also about the tax details.
While creating a company in a foreign country is an extraordinary opportunity, sometimes this can be a little bit difficult since there could be different inconveniences depending on the nation where you want to open your new business. In fact, this is the same reality when you want to move one you already have to another nation instead of opening a new company abroad.
Considering the incredible benefits this business decision normally has, you always need to have an international tax accountant in order to prevent any kind of problem and get ahead of the different obstacles that are going to appear in the process regarding the fewer tax obligations, which normally come with a catch.
One of the most important services that an international tax accountant offers is to coordinate with the tax advisor in your home country to determine every single detail regarding your global tax disclosure The reason why this is quite important is because this will allow the international tax accountant to significantly reduce your global accountability to the scale that is originally allowed by the tax code.
Another reason why the international tax accountant will ask you to take this step is because one of the most common issues when opening a business in another country or moving your company abroad, is the lack of coordination between this person and your tax advisor in each respective nation.
The main risk of this situation is that it could easily expose you to a tax liability at the highest marginal, both in your home country and in the nation where you are moving your company or creating your new business.
In order to make everything in the most efficient manner, your international tax accountant will work with the foreign tax professional not only to know each other’s needs but also to build a rock-solid tax planning strategy for your business.
Far from being a rare move that not so many companies make, the truth is that counting with the services of an international tax accountant is something that almost every established multinational company does in order to succeed in the fastest way, even when it doesn’t have too many resources.
In fact, this is the same reality when you want to move one you already have to another nation instead of opening a new company abroad. It is also recommended for business to use professional solutions like accounting or ERP software
In short, whether you want to create a new business in a market-friendly nation or move your company abroad, one of the first moves you must make is to hire a good international tax accountant.