How you can help
In our experience many charities may not be aware:
- That their investment income is taxed by foreign governments.
- That they can get tax relief by reclaiming some or even all of this foreign tax.
- That – if they do get tax relief from a service provider (directly or indirectly via their custodian bank) – this service may come at a cost.
- That Acupay will process any withholding tax reclaims free of charge for charities.
Many charities, which are aware of the double taxation, take no action because the process is complicated, labour intensive and involves liaising with tax authorities who speak a different language.
So, this is how you can help:
- Create awareness that there is foreign tax applied to cross-border investment income.
- Improve the understanding of how foreign withholding taxes are applied and that these taxes can be reclaimed.
- Put the charities in touch with Acupay: we can assess how much tax is lost to foreign tax authorities, how much can be reclaimed and what this process entails.