A plain-speaking guide to global withholding tax and tax relief on cross-border securities investments has been launched by the National Association of Pension Funds (NAPF).
The 'Made Simple' guide offers an accessible and practical introduction to the subject and the NAPF says it is an "essential resource" for the industry.
The new guide outlines the general principles, guidelines for full or partial tax relief and the practicalities of securing the tax relief that pension schemes are entitled to.
Graham Vidler, director of external affairs at the NAPF, said: "This guide will help trustees, pensions managers and other interested parties, get to grips with the principles of global withholding tax relief, how it might affect their pension scheme and what needs to be done.
"It is designed to be informative but without the jargon, business-speak and technical talk often associated with pensions and investments.
The guide is available for free to download from the NAPF website and a hard copy is also available to buy.
It was produced in collaboration with the Goal Group, a leading class action service provider and tax reclamation services specialist.
Goal Group CEO, Stephen Everard, said: "Global withholding tax relief is a topic sometimes overlooked by pension funds who often assume that as a tax-exempt organisation at home, they should be automatically exempt from tax in a foreign country.
"Our research reveals that almost 24% of reclaimable tax is left unclaimed and investors, including pension funds, need to be vigilant to ensure they maximise investment returns through effective foreign tax relief strategies.
"This Made Simple guide brings to life some of these considerations in an accessible format."
The Global Withholding Tax Relief Made Simple guide was launched on 3 December at the NAPF Trustee Conference 2014 in London.
"We are very grateful to Goal Group who provided their knowledge and expertise," said Graham Vidler, NAPF director of external affairs.
First published 05.12.2014
Lindsay.sharman@wilmington.co.uk
