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Foreign corporations looking to do business in the United States have the option of setting up representative offices, branches, or full subsidiaries in the U.S. to facilitate the growth of their operations. However, the tax implications associated with setting up an office in the U.S., and the impact it may have on the business, is...
Other than a few exceptions, the U.S. practices and promotes free trade through the many trade and tax treaties it has signed throughout the years. With the exception of certain specific items, exported goods are subject to very limited or hardly any regulations and thus, as international trade continues to grow, many entrepreneurs are considering...
When considering a foreign assignment for your current employer, you might not be aware of the various taxes applicable in the country you would be assigned to. Depending on the country, there may be different tax obligation based on the different levels of government. In the US for example, some jurisdictions have local, state, and...
Form 5471 is used by the IRS to track investment of US persons in foreign companies, and ensure that US tax obligations are met, when required. Unfortunately, if you are a US person with business interests in a foreign country, this may apply to you. The following paragraphs provide a brief summary to this complex...
In the continuous battle with international tax evasion, the Canadian government recently proposed changes to the filing of Foreign Income Verification Statement (Form T1135) as a part of the 2013 federal budget. These changes will improve foreign property reporting, and serve to align Canadian reporting on foreign property with increasingly sophisticated global property reporting requirements....
Canadians with US reporting requirements who own their own Canadian corporations (or plan to own), have many potential US reporting requirements to keep in mind. Even if the corporation doesn’t operate in the US, if the Canadian taxpayer who has a US filing obligation holds a controlling stake in the company (as defined by the...
As globalization continues to increase, many Canadian taxpayers are looking to do business in the USA. AG Tax often receives inquiries regarding the best possible ways of starting up a USA operation, and which form of entity (or company structure) would be most beneficial from a tax perspective. Unfortunately there is no ‘one size fits...
AG Tax receives many questions from investors regarding potential purchases of US real property (rental properties or business purchases for example). The Foreign Investment in Real Property Tax Act (FIRPTA) (see our FIRPTA summary here) is one of the many factors that should be considered if you own or are planning to own US real...
Many of the clients we work with at AG Tax own, or are thinking of owning, real property in the US. This could be a rental property, or even a business investment. Most people do not realize the complicated tax issues that might arise when they sell their US real property. Specifically, the Foreign...
Transfer pricing is one of the most important issues in international tax. Transfer pricing happens whenever two related companies – that is, a parent company and a subsidiary, or two subsidiaries controlled by a common parent – trade with each other, as when a US-based subsidiary, for example, buys something from a French-based subsidiary of...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
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