How COVID-19 changed cross border planning for high-net-worth individuals

Individuals, families and high-net-worth individuals faced substantial challenges when responding to COVID-19. One challenge being tax residency, including the complicated tax liabilities related to inadvertent tax residency as well as access to exemption permits required for international travel.

Baker Tilly’s Ian Halligan joined Alison Wood (Australia), Nigel May (U.K.) and Androulla Soteri on Baker Tilly International’s latest Q&A to examine how COVID-19 altered cross-border planning. The four specialists discussed many issues they encountered with their clients including the risk of physical presence creating a permanent establishment and the inability to return home.

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