How Much Money Are You Leaving on the Table?

Investors with cross-border investment income are often entitled to withholding tax refunds or tax relief at source, depending on several factors including tax residency, legal status and the existence of double taxation treaties. However, most investors do not have the knowledge or processing infrastructure to file for reclaims on their own. Due to the complexities involved in the reclamation process, many custodians and brokerage firms do not offer a full tax reclaim service. GlobeTax can be engaged directly by investors to identify entitlements and recover over-withheld taxes.

High Net Worth Individuals

GlobeTax monitors portfolio income and identifies all potential entitlements. We compile and maintain all necessary documentation, and prepare and file reclaim applications on our clients’ behalf on an ongoing basis. GlobeTax carefully guides each application through the necessary channels, ultimately crediting reclaimed funds directly to the investor’s account. GlobeTax provides tax reclaim services to clients from over 100 banks and brokerage firms.

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Pensions

Pension funds are especially well positioned to benefit from GlobeTax’s complete tax reclamation service. Under the terms of many double taxation treaties or local statutes, pensions are granted exemption from withholding tax and are entitled to reclaim 100% of tax withheld on their global investment income.

 

Due to the complexities involved in the reclamation process, many custodians and brokerage firms do not offer a full tax reclaim service. It is important for fund managers and trustees alike to understand how withholding tax affects their portfolio so that they can receive the maximum profit from their investments and meet their fiduciary duty. Depending on portfolio size, pension funds may be missing out on many thousands or even millions in unclaimed tax funds.

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Charities, Endowments & Foundations

Endowments and foundations generally benefit from tax-exempt status in their country of residence, and are usually entitled to significant cross-border recovery. Based on double taxation treaties or local statutes this can be up to 100% of the withheld tax. However, the complexities of the reclamation process mean that many endowments and foundations never receive the money they are entitled to.

 

GlobeTax’s tax reclamation service enables endowments to maximize their investment returns, and ultimately bolster their funding by retaining more of their investable assets. GlobeTax has helped to recoup millions of dollars in excess withholdings on behalf of hundreds of endowments and foundations.

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Corporations

GlobeTax provides tax reclamation services for corporate investment vehicles (e.g. mutual funds, RICs, etc.) as well as corporations investing for their own treasury. We act on the corporation’s behalf to identify potential entitlements, file reclaims, and ultimately credit their account with the recovered funds.

 

We have strategic long-term relationships with virtually all major custodians and prime brokerage firms which facilitate GlobeTax’s tax recovery services.

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Sovereign Entities & Wealth Funds

Sovereign wealth funds and other sovereign entities are often entitled to exemption from taxation but the process to recover excess withholdings can be complex. GlobeTax has worked with a number of sovereign entities and is sensitive to the specific needs and unique manner in which claims for this type of investor must be serviced.

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Proprietary Trading Funds

GlobeTax provides a specialized service to recover over-withheld tax for proprietary trading funds. We act on the firm’s behalf and with the different investment vehicles it manages to identify potential entitlements, file reclaims, and ultimately credit their account directly with funds recovered.

 

We have strategic long-term relationships with virtually all major custodians and prime brokerage firms and maintain beneficial owner confidentiality by contracting directly with the fund(s).

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