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Issues to Consider When Establishing a Tax Home Overseas

As the world has become a smaller place, more and more businesses have developed international operations. Once established, these foreign-based companies are often staffed by local country personnel. However, in the early stages of establishing a foreign presence, key managerial talent from the domestic parent company are often seconded to that new location to bring the new venture online and to integrate or transfer the existing corporate culture into the new entity. There are numerous tax consequences associated with such employee moves and the results of such a relocation may not always produce a result that was expected by either the employer or the employee.