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 GlobeTax’s core service is the recovery of excess tax withheld on income from cross-border investments.
GlobeTax serves the marketplace through our suite of ePortals by providing comprehensive, up-to-date research and documentation services. ESP, eClaims, eCerts, eDocs and eTaxData Online have all been designed with the objective of simplifying client interfaces with GlobeTax. For more information on our ePortals, click here.
Investors (“beneficial owners” of securities) are often entitled by treaty to reclaim all or part of the tax withheld on cross-border investment income (dividends / interest). Such funds are usually available for reclaim for a set period (Statute of Limitations) which varies by tax jurisdiction and treaty.
Most beneficial owners do not have the knowledge or processing infrastructure to identify potential entitlements and successfully reclaim over-withheld tax on their own. GlobeTax monitors portfolio income and identifies all potential entitlements. We then compile all necessary documentation and prepare and file reclaim applications on our clients’ behalf. GlobeTax guides each application through the necessary channels, ultimately crediting reclaimed funds to the beneficial owner’s account.
GlobeTax services beneficial owners in over 40 countries worldwide. We file over two million reclaims a year on behalf of our clients, working in all available recovery markets. For more information on our services for beneficial owners, please click here.
Withholding tax recovery is a complex issue. Our suite of solutions facilitates the processing of data and submission of relief at source or reclaim applications on behalf of multiple beneficial owners. Once a beneficial owner’s account is set up with GlobeTax and requisite documentation is in place, we have everything we need in order to continually process reclaims or support relief at source on a client’s behalf. To evidence potential reclaim entitlements, GlobeTax will need to rely on a periodic file, sent to GlobeTax by the outsourcing bank or broker, of income received. GlobeTax also supports US Tax Information Reporting (TIR) and the recovery of US taxes overwithheld on behalf of non-residents.
Please click below for more information on GlobeTax’s service offerings for:
Custodians/Brokers Prime Brokers SWIFT Users
GlobeTax’s Depositary Services group manages the reclaim processing and filing infrastructure for Depositary Receipts (DRs) including American Depositary Receipts (ADRs). By providing a complete outsourcing solution to all four US Depositaries issuing DRs (BNY Mellon, Citi, Deutsche Bank, and JPMorgan Chase), the Depositary Services team works to maximize the recovery of entitlements on such securities. In this capacity, GlobeTax can work with any bank or brokerage firm whose clients hold DRs. GlobeTax’s valued and long-standing relationships with tax authorities and local market agent banks are essential to the effective processing of reclaims on these instruments. Click here for more information.
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