SPONSORED: The Power of Hybrid Tax Operations Deloitte
The tax implications of launching and managing a new investment fund are incredibly complex, even without considering the significant expertise and operational costs required.
Today’s investment firms expect their tax departments to support growth and profitability, so it makes sense to partner with a dedicated third-party service provider for tasks such as compliance and reporting. The best choice is a firm with functional tax specialists in multiple jurisdictions, along with a deep bench of professionals who have direct experience supporting the investment-management sector across a range of geographies, financial products and instruments, and investor profiles.
In practical terms, such outsourcing could drive employee movement from in-house teams to the service provider, yielding further savings and efficiencies. And there are clear benefits to an investment firm and its tax-services provider, each of which has its unique assets and capabilities and assumes different but complementary roles.
To attract and retain talent, many tax departments need to offer learning opportunities, but they’re constrained by limited training budgets. Working alongside the experienced specialists of a global professional services provider can deepen both old and new employees’ skills in compliance, reporting, and other core activities.
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