Global Tax Withholding and Reclamation
($100 Early-bird Registration Discount Ends August 24)
Intermediate Level, 7 CPE Credits
Instructor: William J. Salva
Hours: 9:00 am - 5:00 pm; Registration/Breakfast begins at 8:30 am
Billions of dollars of taxes are over-withheld on cross-border securities investments world-wide every year, millions are spent by custodians and others to get some of it back, yet $billions remain left on the table. Come learn how the system works, what the industry best practices are and what needs to be done to maximize your organization’s opportunity to deliver the best possible tax relief service to your customers.
International Withholding Taxes, Theory and Practice
-Statutory withholding tax rates/rules
-Treaty and domestic law relief
-Relief at source
Customer Account and Tax Status Issues
-Individuals, Corporations, Pension Funds, Charities/Non-Profits,
Governments, Collective Investment Vehicles, Banks/Intermediaries
-Definition of Beneficial Owner
-Account Documentation best practices
DTC Elective Dividend Service (EDS) Issues
-How do EDS programs work?
-EDS Benefits, obligations, limitations
-Role of Depositaries, Globe Tax and Acupay
Local Custodians and Tax Authorities
-Why must tax reclaims be filed with custodians in some markets and with
tax authorities in others?
OECD (Organization for Economic Cooperation and Development) Developments
-What is the OECD and who participated on the informal consultative group
on the taxation of collective investment vehicles and procedures for tax relief
for cross-border investors?
-Status of the project to harmonize and standardize withholding tax relief
-CIVs: proposals for when and how CIVs may be able to obtain tax treaty benefits
-Implementation Procedures: proposed new documentation and procedures for
portfolio investors to claim treaty or domestic tax law benefits
in the source country
-Why does it matter to us?