A taxing issue: Residency

One of the most frequent mistakes that individuals make from an international tax outlook is assuming that the guidelines of residency are alike from one territory to another. During COVID-19, many high-net-worth individuals realized that this is not the case. Residency status and the domicile of an individual can drastically impact tax position. COVID-19 has unfortunately caused many individuals to be unexpectedly caught in other countries.

Baker Tilly’s Ian Halligan joined Alison Wood (Australia), Nigel May (U.K.) and Androulla Soteri on Baker Tilly International’s first Q&A in their series to discuss facts vs. myths related to tax residency and travel between territories during COVID-19 restrictions.

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