Billions Unclaimed Withholding Tax
May 5 2011, 10:00 am
According to a recent report by tax reclamation specialist Goal Group, due to withholding tax on dividends and income not being properly reclaimed, investors are likely to miss out on nearly £11bn from their cross-border shares and bonds. With US investors suffering the highest losses of around $3.164bn left un-reclaimed. UK investors are set to lose out on £1.65bn.
Cross-border shareholdings have become more popular and lost returns through un-reclaimed tax have also spiralled and are considerably higher than when the company last looked at the issue back in 2005.
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