Business trading overseas: Withholding tax and what all business owners need to know
In our latest International Business video Joe Sullivan, Partner and David Bennett, Tax Partner, discuss ‘withholding tax’ which affects businesses trading overseas.
Withholding tax is a tax that an overseas customer might deduct when paying you. The tax itself can be 20% off the value you were expecting, which in turn can affect your margin on certain contracts.
David and Joe discuss what the implications are for the business owner, as well as what can be done to safeguard against this.