The Operational Tax world
Operational tax risk arises in relation to withholding taxes, transactional taxes (stamp duties and other transfer taxes) and compliance obligations (identification, documentation and tax reporting) resulting from holding or receiving payments on financial assets.
Operational tax was traditionally considered as secondary and was not sufficiently appreciated. However, as net tax transparency and compliance requirements have evolved and increased globally, financial organizations are facing numerous operational tax challenges.
Furthermore, the FATCA and CRS rules impact not only financial service providers but everyone from investor, to life insurance policyholder or beneficiary, all the way to basic account holder.
The BDO Operational Tax team
In order to help you with these complex rules, BDO Luxembourg has put together a dedicated team specialized in operational taxes. The team is composed of experts with an international background and extensive financial services experience.
OUR KEY AREAS OF EXPERTISE:
> U.S. Qualified Intermediary (“QI”)
> Foreign Account Tax Compliance Act (“FATCA”)
> OECD Common Reporting Standard (“CRS”)
> Certification of German tax figures for funds
> Tax reporting for private bank clients
> Other tax issues related to securities