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Businesses can expect new administrative costs associated with managing the reporting and reclamation of these taxes, and companies are working to train employees to prepare for these burdens. Observers anticipate that companies will incur expenses beyond the amount of the VATs and tariff payments. A rapid U.K.
TaxTec , the worlds first fully digital tax reclamation service, has released a study showing how much withholding tax lies unreclaimed annually on foreign dividends and interest payments. billion, with US cross-border investors missing out on over $3.8 The reclamation process is, however, bureaucratic and complex.
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