Multi-national companies face paying property taxes that vary enormously from country to country. In our experience, the head office tends to have little property knowledge of tax regimes outside its home base, favouring an ad hoc approach at the individual country level.
As a result, companies with global property portfolios delegate too much decision-making to numerous external providers with a consequent loss of cost transparency, benchmarking and strategic management at head office. The tax manager becomes more of an administrator than corporate strategist.
Through an alliance with AEC International, we can offer our clients a global property tax management tool using a sophisticated web-based IT system called Itam Link. Property data from a global portfolio is consolidated into this system, a portfolio-wide review and analysis is conducted and automated, and then tax relief on individual properties is pursued through local providers.
It is being successfully used by the likes of Ford, General Motors, Nortel, Molson, Sears and a wide range of public sector bodies. It allows head office to strategically manage its property taxes, achieving far greater cost control and tax minimisation.
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