A Case Study

Walker Wayland Advantage is an independent member of BKR International

As a long-standing independent member of BKR International, we have built up a web of personal relationships around the world.

These relationships lead to opportunities to support our BKR colleagues in Australia.

One of our European partners is a trusted advisor to a large international trading business (over €300 million revenue). Their client was acquiring a group that had an investment in an Australian start up.

We were introduced as a trusted service provider to help them develop the start up.

We provided a range of initial Tax services, including

• Company incorporation
• Tax authority registrations
• Reviewing their standard European employment agreement and identifying areas where Australian law and practice required changes
• Industry specific registrations
• Setting up and maintaining an appropriate online accounting solution
• Providing an Australian Resident director (subject to liquidity requirements, Directors & Officers insurance and parent company Deed of Indemnity)

Subsequently, we provided a full back office/Virtual CFO solution including efficiently collecting and processing supplier invoices, collecting and calculating employee entitlement, and paying suppliers, employees and tax obligations with control over the company’s bank account. We also completed prompt end of month reporting to head office.

Of course, we also provided an annual financial reporting and tax compliance package.

As the business grew and the needs of the parent entity changed, we also adapted. Transfer pricing issues were advised on and concerns around Permanent Establishment tax rules for an associate were addressed.

It’s a dynamic process of support with conference calls between ourselves, head office representatives and our European BKR referrers. Our open communication builds relationships that last while also ensuring there are no surprises.

Written By Martin Phelan – BKR Asia Pacific board member