Taxation of Expats
With Greenvissage, Do Not Worry If Your Expatriate Taxation Is Done Correctly. We also provide tailored year-round guidance and advice on tax-saving opportunities.
An expatriate is a person temporarily residing and employed in another country while still remaining a citizen of his home country. Moving to a foreign country is a challenge and understanding a new tax system is demanding.
As an expat you should understand various tax aspects like the country in which your income will be taxable, your residential status, filing requirements in the foreign country, reliefs available on the basis of double tax avoidance agreements, social security regulations in India and available opportunities for tax saving.
The team at Greenvissage is seasoned to take over the entire expat taxation process smoothly from the stage of first year of complexities till the time a tax clearance certificate is obtained for leaving the country. At Greenvissage, the team gives meticulous attention to your tax planning which helps in minimizing your taxes as an expat.
Greenvissage is proficient in the entire process of settling various expats in India. We partner with foreign employers who are looking for a consultant to take care of the tax requirements of their expat employees in India.
Our Expatriate Tax Services include
The aim is to design an optimum salary structure by introducing components to avail maximum exemptions. Expats are informed about the mandatory social security benefit contributions like provident fund. Aspects like social security agreements between countries are checked for eg: a seconded employee from Germany can opt out of the provident fund contributions whereas a UK expat cannot. Investment opportunities are explained which can have a positive tax impact. The tax implication of any perquisites is covered.
Assistance is provided in calculations of expat tax equalization to finalize the salaries with satisfaction to employees and cost control to the foreign companies.
Withholding tax is a responsibility of the company but the ultimate responsibility of paying the due taxes lies with the expat. We ensure accuracy in the taxes withheld and see to it that it is fully compliant with the tax rules and regulations. In cases where the payroll involves complexities like tax equalisation, salary being split and paid both in home country and host country, reimbursements are required to be done to the associated enterprise, we provide support by monitoring the payroll function in the initial stages to ensure there is no surprise lapse at the year end.
When the remittances are due for the reimbursement of salaries to the associate company in the foreign jurisdiction for payments to the expat employees in their home country, there are certifications required by the bank to complete the remittance. We help in these certifications and also assist the company in preparation and liaising with the bank for any documents/explanations required for hassle free remittances.
We help companies in formulating deputation policies, drafting the secondment agreements, assignment letters, appointment letters or review any other contracts in this regard. We also help to obtain a Permanent account number in India. We ensure that there are no corporate tax implications like a permanent establishment risk in India for overseas employers.
We provide the service of preparation of personal tax returns, filing, opening and maintaining the e-filing tax account and post filing activities including attending the queries from the tax authorities.
Why Choose Greenvissage ?
We are reasonable, economical & affordable with unmatched result-oriented consulting.
Having an experience of working with some of the world’s largest accounting firms.
I always found doing business with Team Greenvissage is very pleasurable. They helped us setup the company in India and guided us through the legal minefield & ensured all compliances were adhered to strictly.
Thanks to their legal & financial support, I could fully concentrate on the Business operations, knowing the legal and fiscal are in good hands.
Known Amit and Kethan for over 15 years now and have been utilizing their services for our end to end Accounting/Tax/Payroll needs..not only are they super professional and knowledgeable they also make the best of friends a business owner can ask for!
We have been receiving personal attention from the Directors at all times. The support staff is very helpful and they try to understand the issues at hand, with all sincerity and professionalism. For emergencies we do get immediate personal intervention.
The services they provide are exemplary on a professional and knowledgeable, yet friendly level.
We particularly value their pro-active style of suggesting ideas and solutions regarding all accounting/ compliance/ payroll/ tax/ forex matters of our business,
and the way a smooth transition and taking over of our accounting/ auditing tasks from our earlier CA was accomplished.
One of the key criteria for start-ups is that the accounting firm should be flexible, understanding and very approachable.
I am happy to state that Greenvissage and its team is exactly this.
The team is ably headed by Amit and Kethaan. Both of them very well understand that the business cycles go through tough times and they make sure to support during tough times too.
I believe this is the test of good partner organization.