Our Financial Services tax team work with financial institutions to develop and execute effective global tax methodologies.
Our FS tax teams, covering banking, funds management & insurance, work with financial...
We adopt a multi-disciplinary approach, calling on our professionals in complementary areas such as technical accounting and regulatory and risk management. These resources can be tapped on a local, regional, or global basis. Our powerful internal knowledge sharing systems mean our tax professionals are up to date on all the relevant technical and industry developments.
How we can help your business
Discussions with clients and our own experience of the industry convince us that the most important tax issues potentially facing financial institutions include:
Expanding IT capabilities and the interchangeable nature of money mean that financial products and services can, at least in theory, be sold anywhere in the world. In practice, financial service providers face myriad regulatory and tax controls.
Given these constraints, it is not surprising that many financial intermediaries struggle to create and maintain internationally tax efficient policies and structures.
As customers want new services, investors seek more profit and less risk, regulators demand higher standards of corporate governance and web-based technologies can create new competitive opportunities and threats.
Governments and supra-national bodies such as the European Court of Justice and the Organisation for Economic Co-operation and Development are driving changes in tax law. Some tax authorities are cutting tax rates to attract investment while others are getting tougher on avoidance to protect their revenues.