GlobeTax Webinar with DTCC
A conversation with DTCC on ISO 20022 for Corporate Actions & 2020 global withholding tax updates for Puerto Rico, Ireland and others. If you would like to see the recording of the webinar, please click the button below to fill out the request form: Our list of speakers: Ian DeSacia, DTCC Patrick Barthel, DTCC […]
Summer 2020 Withholding Tax Update Newsletter
This edition of Withholding Tax Update includes: The upcoming launch of GlobeTax’s re-engineered ESP platform The new long form process for UBS registered shares in Switzerland Deadlines in France and Russia The impact of COVID-19 on end of year reclaims U.S. partnerships filing for Irish long form claims Read more here
How Tax Reclamation Can Help CITs Beat Their Benchmarks
Although Collective Investment Trusts (CITs) have existed for over 100 years, they have risen in prominence over the past decade, becoming the go-to investment vehicle for qualified investors seeking to increase return on investment. As the vehicles need not adhere to reporting requirements from the Securities and Exchange Commission or the Investment Act of 1940, […]
GlobeTax Expands ISO 20022-Driven MIDAS® Offering
Relief at source is considered the gold standard of global withholding tax relief, as investors receive their full dividend entitlements at the first available opportunity. GlobeTax’s MIDAS® service provides relief at source to investor clients of financial institutions, magically minimizing the risk and time involved in securing tax entitlements. With the offering, financial institution clients […]
April 2020 Withholding Tax Update Newsletter
This edition of Withholding Tax Update includes: Markets allowing copies of documentation during COVID-19 Finland’s 50% withholding tax rate and changes to filing procedures New hybrid interest payments for AerCap Switzerland’s restrictions to previously tax-exempt events Instructions to enroll in ACH payments The conclusion of another Russia audit Read more here
Non-Investment Alpha
Foreign withholding tax reclamation offers risk-free operational alpha. Dividend and interest income on foreign securities is often taxed at a high “statutory” withholding rate. Under double taxation treaties, however, investors can qualify for a more favorable “treaty” tax rate and reclaim historically over-withheld taxes. Investors who benchmark against indices such as the EAFE or ACWI-ex […]
March 2020 Withholding Tax Update Newsletter
This edition of Withholding Tax Update includes: Increased statutory rate in Ireland Opportunities for IRA exemption in Switzerland Status of Russian Sistema audit Relief at Source and Quick Refund opportunities in Belgium New entitlements for SICAVs and SICAFs in South Korea Long Form requirements in France 2020 treaty and protocol changes Read more here […]
Opportunities for Tax Recovery under EU Discrimination Rulings
Investors both inside and outside of the European Union have been enjoying opportunities to recover taxes under ‘discrimination’ rulings from the European Court of Justice. We answer common questions about these opportunities, discussing case precedent, eligibility criteria, and the claim filing process.
The Omnibus Dilemma
While much has changed in the world of tax recovery in GlobeTax’s 26 years, a few truths remain constant: 1. Beneficial owners want tax relief entitlements on foreign income; 2. Withholding agents and tax authorities want to know the identity of beneficial owners before granting tax entitlements through relief at source or long form processes, respectively; 3. Financial institutions want to minimize cost and risk when conducting global operations. In most cases, this involves co-mingling assets in omnibus accounts.