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Prime Brokers
A Win Win
Relationship managers are always looking for new ways to improve service offerings for their clients. One of the difficulties for many relationship managers is the degree of knowledge required to get that service message across to clients.

When it comes to withholding tax, this can be particularly difficult for two reasons. First, while recovering excess withholding tax is very valuable for a prime broker's clients, it's also extremely complex causing clients to often miss their cash entitlements. Second, there are very specific data protection and confidentiality issues for prime brokers which mean that, without GlobeTax, it is often impossible to gain the benefit of tax recovery.

GlobeTax provides a range of support services to the relationship management function of prime brokers to help them deal with both these issues and create a real benefit at no risk or cost. We provide information to be used in newsletters, articles and web sites. We provide training designed specifically for relationship management to explain the withholding tax issue and its value to clients. We will also provide a FREE estimate of any client's likely cash entitlements (often going back years). Once the case has been made, our unique processing solution solves the data protection and privacy issues that otherwise stop prime broker clients from benefiting from tax recovery.

Prime Broker relationship managers gain a great deal from these support services. Together, they enable management to generate added value for their clients at absolutely no cost to the prime broker. From experience, we love to see the glow that relationship managers and brokers get from their clients once they introduce us and we deliver cash to their accounts where they would otherwise have lost out. Our job, after all, is to make you look good and deliver value to your clients.

US hedge fund partners may only claim a foreign tax credit (deduction) for the portion of withholding that is "legally owed" to the foreign government. One cannot deduct the amount that is eligible for recovery.

We run introductory courses on withholding tax and our services for relationship managers on request, if you are a relationship manager and would like to know more, please contact us.









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