The Issue
Cross border transactions are common, with many businesses trading in countries around the world. How should you carry on business overseas? Should you set up a permanent establishment in that country? Should you enter via another country? Should you simply appoint a local agent and sell from Australia to that agent? The options appear to be many – but are they acceptable back home?
What we do for you
Our tax experts have dealt with these issues and more, as clients continue to expand and head overseas to grow their revenues.
As an independent member firm of the UHY International network, the team has access to local advisers in many jurisdictions – 96 in fact and via over 330 offices. This gives us enormous reach and the ability to ensure we get it right when it comes to doing business overseas.
Getting the tax right overseas is just one side of the equation. Great care needs to be taken to understand how your overseas business will be taxed here in Australia.
The tax team can assist as follows:
- We need to understand your intended destination, the type of goods or services you are going to provide, whether you intend to set up a physical presence, your likely capital requirements, and likely profit outcomes.
- Most likely through our UHY International contacts, we can conduct research based on the information you have provided to us and tease out the options that might be available to you.
- Our advice will make recommendations which, once agreed, can then be executed so that you are ready to do business. This may involve our overseas contacts again in obtaining necessary registrations.
- Our advice will include an assessment of how your overseas income will be taxed in Australia.
The benefits to you
- Working with our international network, we can ensure you are ready to do business once we have completed all necessary registrations and structuring.
- Having a team with the right experience and connections removes the regulatory issues as a concern for you, leaving you to concentrate on getting the business off the ground.
- Having the right advice and the right team means that risks are minimised.
- If you make a mis-step, it can be an expensive exercise to set things right. In some cases, the damage can be permanent. Having advisers who can deal with your specific international tax issues will ensure you don’t take a wrong turn.
