With the mobility of your business, staff and capital comes a need for support – we have a global network to help.
With your businesses mobility comes a need for support, we have a global team to help.
Choosing a country
Moving abroad may be a lifestyle or business choice. Either way, it is crucial to understand the tax regime of a destination country before emigrating. Tax regimes vary significantly in their scope and rates and KPMG advisers can help you to understand these variances and their impact on your business and your personal wealth before you make a move.
Country departure and arrival planning
Prior to making your move to a new country it is advisable to understand its tax regime and whether any action should be taken before arrival to maintain or improve your financial position. Many people do not realize that reviewing their tax position when leaving a home country may be of benefit to them financially. Conversely, you could also have reporting and tax charges, or compliance issues upon emigration that need to be dealt with.
Tailoring our services to your individual circumstances, our global network of professionals can advise you on how to organize your tax affairs prior to leaving a country. Advisers can also inform you on how to meet your compliance requirements and mitigate any tax risks that may come with departing from or returning to a country.
Cross-border tax information transfer
The world is becoming more and more connected - and this connectivity has also extended to tax relevant information. If you have financial affairs in more than one jurisdiction, your tax information could be shared automatically with other territories so it’s important to ensure that you are compliant in all relevant jurisdictions.
To help you stay tax compliant, no matter where you decide to locate yourself or your business, our advisers will inform you on what information could be shared by financial institutions and tax authorities.
Purchasing a property abroad
You may want to buy a home in your new location. This is a significant purchase and advice should be sought regarding the implications of purchasing, renting or selling a property abroad. Some jurisdictions may also levy an annual property and/or wealth tax.
KPMG’s global network of advisers can help you to understand how property is taxed around the world, so that you can plan appropriately.
Succession and estate planning abroad
Not all territories have a gift tax or death tax equivalent. When emigrating, you’ll need to consider how permanent the move is going to be. Regardless of the planned duration of your stay, you should understand how your estate will be taxed upon your death in the territory in which you are resident, and consider whether new wills or trusts will be needed.
Our global network of advisers can help you to understand how your worldwide assets will be taxed when gifted or when forming part of a death estate, as well as advise you on how assets can be passed to later generations in the most tax efficient manner.
Business owners in India want more than a smooth transfer of wealth and therefore, succession planning is not limited to a will.
Following the reform of the Austrian real estate transfer tax, gratuitous transfers of large real estate within the family are now subject to comparably higher taxation, learn more about this change and its effects.