Our Expert Blogs
Beneficial ownership now decides whether WHT recovery survives scrutiny Beneficial ownership has moved from a technical treaty phrase into a frontline control issue for withholding tax (WHT) recovery. For institutional investors, asset managers, pension funds, sovereign investors, family offices and cross-border fund structures, the question is no longer simply whether a reduced treaty rate exists. […]
Withholding tax (WHT) recovery starts with a simple question that often becomes difficult in practice: who is the beneficial owner of the income? For investors, custodians, administrators and asset managers, the answer drives whether treaty relief can be claimed, whether a reclaim can survive review, and whether a tax authority will accept that the claimant […]
Why a Latin America WHT guide matters now Latin America has never been a single withholding tax (WHT) market. Brazil, Mexico and Chile each apply different rules to dividends, interest and royalties, and each market has its own administrative pressure points. For cross-border investors, that means a generic reclaim playbook is not enough. A credible […]
Asia WHT recovery opportunities are real, but they are not uniform Cross-border investors still leave money on the table in Asia. They often treat withholding tax (WHT) as a background friction cost. That is the wrong lens. In practice, the real issue is whether a market creates a recoverable tax leakage, and whether the claimant […]
Treaty reform is moving faster than treaty delivery Across emerging Africa, treaty policy has moved forward. Several jurisdictions have updated treaty networks, adopted Base Erosion and Profit Shifting standards, or absorbed anti-abuse changes through the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, commonly called the Multilateral Instrument. […]
Why the South Korea WHT treaty question is now a substance question A South Korea withholding tax (WHT) treaty claim can look simple at first glance. The treaty rate may seem clear. The residence certificate may also be available. Even so, the real pressure point sits elsewhere. South Korea now tests treaty access through substance, […]
Why UAE Saudi WHT recovery is not a single Gulf process UAE Saudi withholding tax (WHT) recovery sounds like one regional story. It is not. Investors often group the Gulf Cooperation Council together and assume that tax administration works in a similar way across the bloc. That assumption breaks down quickly once WHT enters the […]
Africa’s 2026 withholding tax (WHT) landscape is becoming a year of tighter administration, sharper classification rules, and more demanding documentation standards. Across Morocco, Egypt, Kenya, and Nigeria, WHT risk is moving deeper into treaty access, source rules, digital enforcement, and payment characterisation. For cross-border investors, that changes the control framework. The real issue is no […]
Why emerging markets require a different approach Emerging markets withholding tax recovery rarely works as a routine tax exercise. It affects cash flow, operational control, treaty access, and investor governance at the same time. Portfolio teams may group emerging markets together for allocation purposes, but tax authorities do not. Each jurisdiction applies its own domestic […]
The European Union (EU) has moved the Faster and Safer Relief of Excess Withholding Taxes initiative, known as the FASTER Directive, out of policy debate and into the implementation phase. For investors, custodians, fund administrators and intermediaries, that shift matters now. The legal framework is set. The national build is not. That gap is exactly […]