International Withholding Tax Advanced

Background

Over 2.5 trillion of tax is available to recover, a figure that increases by £300 billion every year. The largest responsibility falls on custodians and brokers as intermediaries for their clients. to both know about the issue and assemble the appropriate resources to be able to act in their best interests. Since over $4.2 billion is available in the form of custody fees generated from the additional funds in client accounts (as opposed to tax authorities), there is also a healthy self interest for banks and brokers to do the best job. This course provides senior management with knowledge of the scale scope and nature of the problem as well as a route to decide the best way to tackle it.

This course is designed for senior departmental heads responsible for deciding strategy and resourcing in corporate actions. Its objective is to give enough operational and regulatory detail to allow senior managers to understand the options open to them for providing withholding tax services within custodial SLAs and the tools to select the most appropriate solution.

The course will be beneficial for anyone responsible for compliance, risk management, client relationship management, client service strategy, fund or asset management, institutional investment and heads of back office operations. This is NOT a course for withholding tax departmental staff. It is a course designed to give senior management the tools they need to decide and develop strategy. [top]

Benefits

To ensure that the delegates have a good working knowledge of:

1. The background to withholding tax
2. An understanding of the principles of double tax agreements (DTAs);
3. An understanding of relevant terminology and the basic generalised processes;
4. The business, strategic and compliance issues raised by withholding tax complexities;
5. The principles versus the actual market practice for Relief at Source and Remedial Reclaims;
6. Advanced relief at source systems including US S1441NRA (“QI”) and their impact;
7. Best practice and benchmarking issues for processing client entitlements;
8. Specific processes for the main withholding tax markets and their impact on business strategy.
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Agenda

INTRODUCTION

• Withholding Tax in Context (size and nature of market)
• Jurisdictions & Double Tax Agreements

OVERVIEW OF WITHHOLDING TAX

• Types of regime (Relief at source, Reclaim and combination)
• Variations & Permutations (types of client, income, instrument etc)
• Intent of Governments
• Statutes of Limitations (variations and implications)
• Contractual Tax (the formula view)

THE OPERATIONAL VIEW

• Technology (Buy, Build or Bureau, how to choose)
• BPO & Service Bureaux (outsourcing solutions)
• Basic Reclaims (business process flow model)
• Advanced Relief at Source
  - USA (including: latest update, tax reporting, tax deposits and strategic processing issues)
  - Japan (overview)
  - Ireland (overview)
• SWIFT messaging

BENCHMARKING

• 12 benchmarks for efficiency

FUTURE DEVELOPMENTS & TRENDS

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How To Book

This course is available as a public course at a cost of £975 per delegate (£400 per online delegate). Available dates for 2010 are:

22/23 June – The Netherlands 12/13 Oct – London

If your would like to take a public course, but find that the dates above are not suitable, then please contact us to express your interest, as further dates may become available if there is sufficient demand.
Note: Course dates and locations may be subject to change.

This course is also available on an in-house basis. Click here for our current prices. To discuss your training needs, please complete our booking form and we will get in touch.
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