Kavan Choksi: Settling Tax Disputes on a Global Scale

 

Kavan Choksi Discusses International Business Tax Disputes

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Remember the old saying about death and taxes being the only two sure things in life? When it comes to business, taxes are indeed inevitable. Business management consultant Kavan Choksi says it doesn't matter where you do business; you will always be taxed. If you plan to put up an international company, it's prudent to know everything there is to know about taxes.

Today, Kavan Choksi discusses how to settle tax disputes for international businesses.

Tax disputes cover a wide range of issues, even wider still if you're doing business in several countries. That said, the principles of handling them are the same.

First, the chief financial officer (CFO) oversees the problem. The CFO should be able to check if there are instances of double taxation, late payments, or no taxation at all.

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Even if the company's accountants are going through the process of dealing with these disputes, the CFO needs to apprise them. Kavan Choksi says that tax disputes vary in size, with high-profile cases leading to regrettable results. Companies that have had much-publicized tax disputes have experienced a loss of trust from investors. They've even experienced investors leaving the company. On top of that, these companies even saw a marked decrease in global interest leading to missed opportunities for expansion.

Tax issues have to be detected early on, Kavan Choksi adds. He also says that disputes must be dealt with as soon as possible. Before expanding to another country, remember that certain countries may have different tax laws that need to be reviewed.

Kavan Choksi is a freelance business management consultant. He writes about business, finance, and economics and posts his insights on his blog. Access the articles here.