Selling goods and services to foreign countries gives a company or individual a chance to reach and conquer new markets, boost their reputation and financial standing and take the first steps to what could be even greater success.
Exporting brings with it a number of challenges: the need to develop new relationships, broker deals in fresh territories and become accustomed to working and financial practices that you may not have encountered before. If these challenges are met successfully, the rewards can be great. However, there is one particular area where caution is required.
That area is taxation. Tax evasion has been a major issue in recent years. From the Panama Papers and the Paradise Papers through to some of the world’s biggest companies having their tax paying practices probed, the question of who pays what (and where they pay it) has taken on extra prominence.
It goes without saying that every forward-thinking, export-minded