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Foreign investment income is often taxed at a

high statutory withholding rate

Under double taxation treaties investors may be eligible to a lower treaty rate and may reclaim the difference. Foreign tax authorities retain these withholdings for a set period, called the Statutes of Limitations, which varies by market. The process to file a reclaim can be intricate with distinct procedures, languages, requirements to file and cultural nuances in virtually every country. If investors do not reclaim their entitlement within the Statutes of Limitation, it is lost.

 

Relief at source enables investors to get taxed on cross border investment income at the correct rate on pay date.   In qualifying markets, accurate data and documentation must meet potentially varying requirements and be submitted to the paying agent within a narrow timeframe. GlobeTax has put in place data and document delivery mechanisms to allow the maximum number of a firm’s customers to access tax relief at source more efficiently.

 

GlobeTax manages all client level documentation, monitors clients’ cross border investment income, files all reclaim applications, supervises all follow-up and ultimately ensures that entitlement funds are returned to the client.



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