INTERNATONAL TAX PLANNING - AN ESSENTAL STEP FOR GLOBAL START-UPS

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The same turbulence that has challenged the global economy has also created pockets of opportunity around the world. Simultaneously, entrepreneurship is at a high, as recent college graduates create their own opportunities, as layoffs at senior levels transform executives into entrepreneurs. And the evolution of technology, along with the booming growth of worldwide networks, has made it possible for those same entrepreneurs to launch businesses that can operate immediately on an international basis. Now, as never before in history, a business can be "global from birth:' T he right time to engage in international tax planning is when the company is being formed. The appropriate form of legal entity for international operations located in the US. or abroad; the necessity to establish potential subsidiary entities in multiple countries to

minimize the worldwide effective tax rate can best be achieved when th e start-up is being formed. It is possible to restructure an existing business structure but it can be very expensive and the result will seldom be optimal. When the start-up is in a pre- revenue phase, an

international tax plan may, under certain circumstances, be customized so that it is phased in, as revenue is generated, provided the foundation has been set up properly at the outset.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jeanne Goulet, Marks Paneth & Shron LLP Certified Public Accountants & Consultants | Attorney Advertising

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