MGI helping your clients go global
When a Canadian client with ties to the Philippines needed expert advice on property development and cross-border tax matters, Toronto-based member firm RMR turned to the power of the global network for support.
A client with plans and plenty of questions
Tony Rosso, Partner at Toronto-based RMR Rosenswig McRae Rosso LLP, was assisting a client who had purchased land in the Philippines and was exploring the possibility of building a multi-unit residential property. With questions around land ownership, local tax obligations, and the implications for Canadian tax filings, Tony reached out across the network for guidance.
“We wanted to speak with a tax professional who had real estate experience in the Philippines,” Tony says.“Specifically, we needed to understand the local filing obligations and how they would impact our client’s rate of return on the investment.”
A fast connection through the MGI network
Within the same week, the Toronto team had connected with Nick Torres, Partner at new member firm TVP Consulting Group, in the Philippines. Despite the time difference, a late-night call was quickly arranged.
“They were knowledgeable and we had a good chat,” Tony recalls. "Nick came back to us with a possible structure and pricing, which we could then review with our client.”
A follow-up conference call, including the client, further demonstrated the depth of expertise and insight within the network.
The right decision, backed by the right support
Though the client ultimately decided not to proceed with the development due to the complexity of local regulations, the experience underscored the value of MGI’s global reach.
“It was great to have a knowledgeable and safe pair of hands just a phone away – literally on the other side ofthe world,” said Tony. “It gave us the confidence to advise our client accurately and make informed decisions.”
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Is your MGI membership benefiting your firm? Do you have stories of collaboration and growth – let us know. We would love to share them. Contact Emma Rowley [email protected]
MGI Worldwide is a top 20 ranked global accounting network and association with over 8,800 professionals, accountants and tax experts in some 440 locations in almost 100 countries around the world.