Tax complexities on foreign income and assets.
Taxes remain one of the biggest factors in company profitability, and the penalties for improper filing are steep – both in cost and reputation. Over the past few years, the IRS and Foreign Tax Jurisdictions have increased scrutiny on earnings and pushed for more transparency on overseas earnings. The recently enacted Foreign Account Tax Compliance Act (FATCA) only further intensifies these pressures.
BDO’s Risk Management and Compliance team mitigates the tax risk of our clients’ unique foreign business interests. We work collaboratively with clients to identify areas of concern early, and implement corrective strategies efficiently and cost-effectively. Areas include transfer pricing documentation, U.S. tax reporting and compliance, cross-border reorganization related documentation and reporting, and withholding tax reporting and compliance, among other areas.