Operational taxes can be an increasingly important aspect of many cross-border transactions. Finding this information, however, can be difficult since there is no official repository of global withholding tax data.
GloW Track seeks to address this situation. It is designed to help users have consistent information on the various tax regimes that may be related to a particular transaction with just a few clicks of the mouse.
GloW Track is a single source of information on various withholding tax regimes around the world. It holds information on approximately 90 investment countries or territories and investor residences.
For each country or territory, GloW Track contains information on the tax rates applied to:
||Interest (on corporate bonds, government bonds, loans and deposits)|
||Stamp duties/transaction taxes on shares, bonds and similar (overview only)|
||Capital gains arising from the alienation of shares, bonds and similar|
It includes the standard domestic rates, domestic reductions/exemptions and treaty rates.
The functionality of GloW Track is highly versatile. The data can be queried by both investment territory and by investor residency. Users can also license customized information specific to their needs, rather than having to license a pre-defined Web application. Moreover, GloW Track is maintained and updated by KPMG member firm tax professionals, providing added reassurance for users with regards to the accuracy and consistency of the data.
KPMG member firms offer a broad range of tax services to support financial institutions in meeting their tax compliance obligations and managing global tax rates. Our global network spans 144 countries and our firms' tax professionals have many years' experience in withholding tax regulatory and tax consulting services all over the world.
The Operational Taxes Group in the UK is resourced by global withholding tax specialists who have experienced the particular challenges faced by a wide range of financial institutions.