The 183-Day Rule & Permanent Establishment: Business Travel Day Counting Done Right
Tax compliance is a growing challenge for companies navigating international workforces and remote employees. “But just stay below the 183-day limit and you’re good”, we hear you say in excitement. If only it were that simple, as the commonly known tax rule is only one factor businesses must consider when managing tax residency and day counting compliance. The risk of creating a Permanent Establishment (PE) is a serious concern, and failing to manage employee movements properly can lead to unexpected tax liabilities. In this post, we’ll break down the complexities of business travel day counting and what organisations must do to stay compliant.
Keep reading until the end for an exclusive opportunity to join Daysium’s innovative platform for day counting.
Corporate Travel Day Counting Challenges
Remote work and international business travel offer flexibility and opportunity for employees and companies. Global Workplace Analytics suggests hybrid working arrangements can save organisations more than $11,000 per employee annually, with 62% of workers saying they feel more productive when working remotely.
However, they also introduce several tax compliance challenges. And what is at the top of that list? Day counting.
On the surface, the 183-day rule seems simple — you stay fewer than 183 days in a country and avoid tax residency. But here’s the catch: the real situation is much more complex.
Countries Use Varying Day Counting Methods
While the 183-day rule is widely adopted, each country often measures those 183 days differently. Some countries use the calendar year, while others use the fiscal year, or a rolling 12-month period.
And as we’ve previously explained in our blog post on day counting challenges, how a country defines a ‘present’ day varies. Some countries count any portion of a day spent in their jurisdiction as a full day for tax residency purposes — others don’t.
Activity in the Country Matters
Another layer to consider is what you’re doing in a country, especially for Permanent Establishment. You can create income liability to a country, whether you’re present there for leisure or for work.
For employers, your leisure and business travel may also matter and employers need to manage ALL days employees spend in a location. If they don’t, then the organisation risks income tax and payroll liabilities.
In addition, what employees do on any given travel or work day can matter, as countries can deem certain activities as creating a PE for the organisation. Companies, then, need to stay on top of the total day count — remember both leisure and work days can matter — as well as the specific work activities performed.
Inaccurate Day Counting: Risks for Business
Your global employees may create significant liability issues for your organisation if you fail to get day counting right. Non-compliance can:
Create unexpected tax liabilities for employees and the company.
Result in penalties and interest on unpaid taxes.
Introduce social security liabilities in both home and host countries.
Establish a Permanent Residency, introducing liability for things like corporate tax.
And when tax authorities investigate, it’s not just a financial issue — your company’s reputation is at stake. Compliance investigations can be time-consuming and public, damaging relationships with partners, customers, and employees.
Business Travel Day Counting for Compliance
The good news is that getting day counting right can solve many compliance headaches. Monitoring the number of days your employees spend in foreign tax jurisdictions can significantly reduce the risk of creating PE and ensure compliance with income tax obligations.
Having a clear day counting policy and the right tools in place can make all the difference. Unfortunately, many companies rely on spreadsheets or manual tracking, which introduces room for error. A small mistake in the number of days reported can lead to significant tax penalties.
That’s where day counting technology comes in.
Automated solutions, like Daysium, simplify the process by providing real-time day count updates based on an employee’s location data. This removes the risk of human error and ensures companies maintain accurate records, regardless of how many employees they have on the move.
Getting Started with Counting Days for Compliance
Here are five essential steps for businesses:
1. Log employee travel days
Real-time, accurate records are crucial for remote and travelling employees. Give your team the tools they need to stay compliant. The challenge with international travel is that employees can forget to log minor trips or make mistakes in manual records. By automating business travel day counting, you reduce the risk of errors and ensure your compliance efforts are as strong as possible.
2. Monitor cumulative days for all employees
It’s not just individual employees to watch out for — track how many employees work in any given jurisdiction. Cumulative presence can trigger PE risks. For example, if multiple employees are working remotely from the same country, even for short periods, their combined presence could lead to the creation of a Permanent Establishment. Monitoring this threshold is critical for avoiding unintended tax consequences.
3. Assess both the 183-day rule and PE thresholds
Both rules matter, and they differ from one jurisdiction to another. Be sure your company understands the specific thresholds where your employees work. Simply staying under the 183-day threshold won’t always be enough to avoid tax residency, and PE can be triggered long before that threshold is reached.
4. Consider specific measurement periods from relevant tax treaties
Double Tax Treaties (DTTs) often have their own rules, which can change over time. Keep these in mind for compliance. For example, some countries have special agreements that adjust how days are counted, or offer exemptions based on the nature of the work being performed. Staying informed on the latest developments in international tax law is crucial for businesses with global footprints.
5. Set clear day-counting policies
Empower employees with clear guidelines and regular updates to ensure day counting stays top of mind. When employees understand the tax risks associated with travel and remote work, they are more likely to stay compliant and avoid creating issues for the company. The State of Business Communication study showed that 72% of business leaders believe effective communication has increased productivity. Regular training, reminders, and easy-to-access resources help reinforce these policies.
Essential Day Counting Concepts to Understand
So to understand the compliance risks associated with day counting, you need to understand the core concepts: the 183-day rule, DTTs, and Permanent Establishment.
What is the 183-day rule?
The 183-day rule is a threshold used by countries to determine when an individual becomes a tax resident. It generally states that if an individual spends more than 183 days in a given country, they become liable to pay income tax there. But this threshold is just one piece of the tax puzzle.
Double Tax Treaty (DTT)
DTTs are bilateral agreements between countries designed to prevent the same income from being taxed twice. They outline specific conditions — based on the OECD Model Tax Convention — that help clarify where an individual or company should pay taxes. These agreements can reduce the risk of double taxation, but they also add layers of complexity when it comes to day counting.
Permanent Establishment (PE)
Creating PE is perhaps the most critical and least understood tax risk companies face. Even if an employee spends fewer than 183 days in a foreign country, certain activities, such as negotiating contracts, managing projects, or having a physical presence like an office or warehouse, can create a taxable business presence in that country. The thresholds and conditions vary from country to country and are often specified in tax treaties.
Current Trend of Cross-border Work
With remote work and cross-border employment on the rise, the risks of triggering PE are higher than ever. Many employees are now choosing to live in different countries while working for employers based elsewhere. This trend can create significant tax challenges for businesses, as governments tighten their regulations on cross-border work.
The key is staying proactive. By regularly reviewing day counts, assessing potential risks, and using technology to support your efforts, companies can manage this trend effectively.
Solve Day Counting Complexities with Daysium
The 183-day rule and Permanent Establishment risks are critical issues for companies with globally mobile employees. Proper business travel day counting can mitigate many of the challenges surrounding tax residency and compliance. Daysium is an elegant solution for individuals who travel globally for work or leisure.
Our platform:
Automatically logs a day counting entry based on your phone’s location data.
Calculates and updates your day count in real-time, providing instance access to your records.
Prompts you to attach relevant documents to your day count to further strengthen your records.
What sets Daysium apart from traditional day counting apps is the tailored Rulesets. When you set up a Daysium account, you’ll be prompted to select the tax laws that apply to you. That helps maintain accurate records according to your individual situation. And if your circumstances change, we’ll change with you.
An Exclusive Invitation to Strengthen Day Counting
Daysium is currently designed for individuals and family offices, but we believe our product can help companies strengthen their compliance. If you have employees who travel internationally or work remotely, we’d love to partner with your business to transform business travel day counting. Take our quick Scorecard Assessment to shape our upcoming day counting tool for businesses—and be the first to have it.
Business Travel Trends in 2024: Why Day Count Compliance Matters More Than Ever
Global business travel has experienced a seismic shift post-pandemic. From having all travel ground to a halt to the rise of hybrid work models, the nature of corporate travel has evolved. As companies now begin to redefine their travel policies, the implications of international travel on corporate tax compliance are growing in significance. Counting employee travel days to avoid unintentional tax residency and reporting liabilities is of strategic importance.
This post explores the current and future business travel trends and how they intersect with the importance of day counting for tax residency compliance. We’d invite business leaders and employees who travel frequently to read until the end for a chance to be part of transforming business travel reporting with Daysium.
The Current State of Short-term Business Travel
In 2020, global business travel came to a standstill due to the Covid-19 pandemic. Even though travel has slowly recovered, it looks different today.
The most notable stats tell the story:
The Global Business Travel Association research predicts global corporate travel reaching a record-spending of $1.48tn by the end of 2024.(1)
Short business trips, once a staple of corporate travel, are being replaced by longer stays, especially for international trips. HotelHub Index research showed that the length of international trips increased by 5.3% in the first quarter of 2024.(2)
Booking.com data found that the average length of business trips in Europe increased by 10% from 2019 to 2023, while it grew by 8.3% in North America.(3)
A Mastercard survey revealed that 53% of companies now allow short-term rentals as a viable accommodation option for employees.(4)
These changing dynamics are essential for corporations to consider, especially as employees travel across borders and into new tax jurisdictions.
The Role of Hybrid and Remote Work in Business Travel
The big shift after the pandemic has been in our workplace. A central office to gather all employees together every day is no longer a given for companies, big or small. While fully remote work has diminished since the pandemic, hybrid models have taken root. For instance, 26% of employees in the UK worked with a hybrid model as of June 2024.(5) This shift has broad implications—not only are employees splitting their time between home and the office, but they might also be travelling internationally to do so.
Business travel is no longer confined to meetings and conferences. Now, employees may be crossing borders to get to their office every few days of the week. These arrangements raise concerns for companies about payroll reporting obligations and tax residency compliance. Employees who regularly commute from one country to another—for work or business—may unintentionally trigger tax obligations that require day counting to maintain compliance.
The Rise of Digital Nomadism
The improvements in technology combined with the shifting company policies of allowing more hybrid ways to work have led to another shift: an increase in digital nomadism. The trend enables employees to work from anywhere in the world. While this flexibility is attractive to employees, it can create significant tax compliance challenges for employers. Employees who live in one country but work in another could unknowingly create payroll compliance and even tax residency implications for the company, and themselves.
Take, for example, the UK and how its tax authority, HMRC, treats non-resident directors (NRDs). UK companies with NRDs who spend time working in the UK have to operate payroll reporting and withholding duties — whether or not they pay the director. NRDs who perform their work fully remotely abroad may even risk creating issues with the company’s establishment. The UK entity could create a permanent establishment for corporate tax in the location where the NRD lives.
For companies, this requires a proactive approach to tracking day counts. Employees’ ability to lead a digital nomad lifestyle through flexible work arrangements could mean they travel more for work and leisure. This blending of personal and professional travel makes it even more critical for businesses to stay aware of how many days their employees spend in various countries.
Trends Shaping the Future of Business Travel
As companies adjust to this evolving landscape, several trends are driving the future of business travel. Let’s explore these key trends:
Health and Wellbeing: Employee well-being is now front and centre in corporate travel policies. In a post-pandemic world, ensuring the health and safety of travelling employees is more critical than ever. This includes considerations for mental health, travel-related stress, and the availability of flexible accommodations.
Sustainability: Environmental concerns are increasingly influencing corporate travel decisions. With employees and customers pushing for more sustainable practices, companies are looking at reducing their carbon footprint. Sustainable travel policies, including fewer flights and greener travel options, are becoming the norm.
Technology Integration: AI and automation are transforming how companies manage travel. Virtual meetings have significantly reduced the need for frequent travel, and advanced analytics are optimising the planning of necessary trips. Technology is shaping every aspect of corporate travel from booking smarter to calculating carbon footprints.
Compliance Challenges in Cross-Border Travel
In a globally mobile workforce, cross-border travel poses significant compliance challenges for businesses. Governments worldwide are tightening their tax rules, and failure to comply with tax residency regulations can have severe financial repercussions. Employees who frequently travel to different countries—for work or personal reasons—could easily trigger payroll and tax liabilities in multiple jurisdictions.
Companies need to ensure they count business travel days and check employee residency. International employees need to be managed to ensure compliance with all local tax and employment laws.
The challenge is not only for employers to maintain a clear and accurate record. Considering the impact of digital nomadism and hybrid work, educating employees in their own active role in day counting is vital for compliance. Employees may create unfortunate income tax obligations for themselves if they don’t monitor their work and leisure days spent in specific jurisdictions. To read more on the challenges in cross-border travel for work, you can explore our post ‘Case Study: Navigating Tax Residency Challenges with Daysium’. The case study looks at two Irish cases highlighting the need for immaculate records.
Without proper day count records, businesses and individuals might find themselves grappling with unexpected tax bills, penalties, and audits. A transparent and easy-to-maintain system for day counting can solve many compliance headaches.
Technology as a Solution for Compliance and Efficiency
Technology is playing an increasingly significant role in simplifying corporate travel management. AI and analytics tools are not just improving how businesses book and plan travel—they’re also critical for ensuring tax compliance. Tools that can log travel patterns, optimise itineraries, and integrate with payroll systems are essential in today’s business environment.
At Daysium, we are at the forefront of transforming day counting for tax compliance. Our platform helps individuals effortlessly manage their day counting with an automated logging system. Day counts are tailored based on individual needs, ensuring compliance with relevant legislation. Using Daysium means you’re not just creating an accurate count of days. You can also add corroborating evidence, which can be vital in establishing a distinction between work and leisure travel.
Planning Ahead: Strategies for Future Business Travel
Strategic planning is essential as businesses navigate the complex landscape of modern business travel. Here are three key steps to prepare for the future:
The Importance of Day Counting for Future Business Travel
Business travel is not going to disappear, but how, when and for how long we travel for work is transforming. As companies adjust to the hybrid work model and increasingly international workforce, day counting for tax residency compliance increases in importance. Maintaining robust records is a strategic advantage for companies and globally mobile individuals.
Daysium currently offers tools for HNWIs to manage their day counting. But we want to go further and ensure businesses can easily navigate this changing landscape. If you want to be at the centre of this change, we invite you to join our Enterprise waitlist for Daysium. Early adopters will be the first to get their hands on our corporate solution and be part of designing and testing the service. Join the waitlist here: https://scorecard.daysium.com/enterprise.
Daysium’s Senior Advisor, Paul Aplin OBE, has written a follow-up to his post on today’s data-rich world. Today’s post, “Beneath the Surface,” offers a deep dive into the complexities of tax information exchange. As governments worldwide enhance their data collection and analysis capabilities through agreements like Automatic Exchange of Information Agreements (AEOIs), understanding these changes is crucial, especially for globally mobile HNWIs. Keep reading for Paul’s insights.
Beneath the Surface
In my last blog for Daysium I looked at the data-wake most of us leave behind in this data-rich world we inhabit and at how we can intentionally or unintentionally reveal things of great interest to tax authorities.
Sometimes, for example if you need to prove where you were, what you did or perhaps even why, that data trail can be invaluable. At other times it can provide tax authorities with evidence of undisclosed tax liabilities.
In addition to the data that we make publicly available through social media and the data we record consciously, tax authorities have progressively gained access to vast quantities of data through Automatic Exchange of Information Agreements (AEOIs). They have also become extremely adept at using data analytics techniques and Artificial Intelligence (AI) to match data with the information that individual taxpayers have declared and to spot omissions and suspicious patterns.
The OECD Common Reporting Standard (CRS) has been implemented by over 100 tax authorities around the world and many have been exchanging information under it for 6 or 7 years now. The CRS requires participating tax authorities to gather information from financial institutions in their jurisdiction about non-resident account holders and to share that information with the jurisdiction where the account holder is resident. The required information is extensive, including sufficient details to reliably identify the taxpayer (name, address, date and place of birth, tax identification number) as well as the balance at 31 December of the relevant year together with the amount of any interest, dividends, distributions and gross proceeds from the sale or redemption of any financial assets.
The scope of the CRS has been extended to include Specified Electronic Money Products (for example, prepaid online accounts or physical cards that can be used to store money to pay for goods and services) and Central Bank Digital Currencies. In addition to this a new Crypto Asset Reporting Framework (CARF) is being added, recognising the fact that cryptoassets can be transferred and held without interacting with traditional financial institutions – and of course that this represents a significant risk of non-compliance. CARF will take effect in 2026 for HMRC.
Online platforms (for sales of goods, services and for property rental) are also now subject to cross-border reporting requirements. While HMRC already had the power to obtain information from UK based platforms, many overseas platforms will also have to provide details of transactions from 1 January 2024 (with HMRC expected to receive that information in early 2025).
Since 2016, HMRC has secured over £586 million of additional taxes through AEOI agreements.
A few years ago, exchanges of information internationally were specific to particular taxpayers and subject to a great deal of process; The CRS and FATCA (the US Foreign Account Tax Compliance Act) have changed things fundamentally; CARF will take that a stage further. Add in the processing power of modern computers, a deep knowledge of data analytics and AI and you have a radically different picture.
What was once occasional is now routine and what once took years can now be achieved in minutes.
It’s a very different world.
Today’s comprehensive tax information exchange between tax authorities requires robust record-keeping from individuals and businesses alike. If you’re looking to streamline and secure your tax residency data, consider Daysium. Our platform ensures accurate day counting and robust corroborate records, which are essential for maintaining compliance in today’s tax environment. Join the Daysium waitlist now to gain access to our innovative compliance tool.
Revolutionising Record-Keeping: How Technology is Transforming Tax Compliance for Individuals
Picture the scene: your tax advisor calls and informs you of a coming tax inquiry. You’re required to gather your records – flight itinerary, hotel receipts, photos. Documents showing your residency days at a given jurisdiction.
The scenario is not uncommon. An HMRC spokesperson said their investigative team secured £4bn from the wealthy, an increase of 60% from the previous year. You’ll need accurate records to prepare yourself for the investigation.
The good news is that technology is revolutionising record-keeping. Let’s take a look at how by discussing the following topics:
Three Reasons for Accurate Record-Keeping for Tax Purposes
Let’s start by considering why you should have record-keeping on your radar for tax compliance purposes.
Accurate record-keeping is more than about saving time. It can be vital for financial planning and keeping the taxman happy.
A pristine set of records will help you with:
1. Compliance with Tax Laws
The dynamic nature of global residency calls for discerning your movements across jurisdictions. Consider the complexities: the definition of tax residency varies from country to country. For example, counting residency days in Ireland differs from that in the UK. Knowing one jurisdiction inside out can lead to misinterpretation in another.
For example, the UK and Ireland count a residency day slightly differently. In Ireland, you are considered ‘present’ if you’re in the county at any time during the day. However, in the UK, you’re considered ‘present’ if you were in the UK at midnight at the end of the day.
Depending on what jurisdictions matter to you, the intricacies of understanding the rules are vital for compliance.
Documenting your days in different jurisdictions is one thing. But as local governments are increasingly interested in the tax affairs of the wealthy, you often need to go further. Tax compliance requires documenting your travel itineraries, including precise arrival and departure times. The proof can safeguard you against inadvertent errors that could lead to legal complications.
2. Tax Inquiry Preparedness
The scrutiny and regulatory oversight are increasingly focused on high net worth individuals ( HNWIs). The UK even has a Wealthy Team examining the country’s wealthiest taxpayers. In 2022, they opened 25 criminal investigations.
Meticulous records prepare you for an inquiry that could happen. Suppose you have corroborating evidence to show things like your location data. In that case, you have irrefutable proof of adhering to tax laws. Access to the information can give you peace of mind before and during an inquiry, moving things along swiftly.
3. Freedom to Choose
Accurate data enhances your freedom, whether you travel to another business meeting or spend time with family abroad.
Imagine a scenario where you receive an invitation to an exciting new business opportunity. But you’ve already spent time in the UK and you’re worried you might overstay. If you’re guessing your current day count, you may end up with one of two bad scenarios. You might travel to the meeting, overstay and pay more tax. Alternatively, you don’t risk it; stay home and miss out on the opportunity.
Meticulous records give you more freedom to make informed decisions and spend time how you want.
The Problem with Traditional Record-Keeping
Record-keeping makes sense, but not all methods are the same. We’re talking about traditional record-keeping – your Excel spreadsheets and cabinet full of binders, if you will.
The core problems for traditional, manual methods are:
Human error – To err is to be human, but unfortunately, sometimes these errors cost. The risks increase the more delegation record-keeping involves. When you have tax advisors dealing with PAs, communication errors could occur.
Access – Manual folders don’t travel with you, no matter how well you organise them. You also need to consider who can have access to these files. Physical access has many hurdles to overcome. The cost of keeping your files safe is often at the top.
Data loss – Physical copies can and will get lost. This could be due to accidents or even nefarious acts. The fact you can’t immediately have all records centralised is a risk.
Compliance risks – Tax laws and regulations change constantly. Monitoring compliance becomes difficult when records are manually kept.
Your reliance on traditional record-keeping doesn’t cut it for one more reason: the authorities aren’t relying on it. Jurisdictions worldwide are using digital tools to combat things like tax evasion. Different agencies are communicating with each other, making it vital to have good evidence on your part.
For example, the tax authority might look into your residency records. They’ll communicate with other local authorities and notice there’s a parking ticket to a vehicle registered to your name on a day you weren’t supposed to be in the country. You need to prove you weren’t there; for this, you require solid evidence.
The good news is that technology can help you with the conundrum.
Three Technologies to Improve Record-Keeping for Tax Compliance
As tax jurisdictions are improving their use of technology to investigate and close loopholes, you should also add the right technology to your toolkit. These innovations can make controlling your time and data easier, leading to more peace of mind.
1. Mobile Apps
A wealth of mobile apps is on the market to help gather and log data. In general, many platforms can connect different accounts under one central view. These traditional finance apps can make monitoring your accounts easier. Tax jurisdictions, like HMRC, also have apps to let you study your tax data.
The market also has a few record-keeping apps for counting your days in different tax jurisdictions. While these can help you get an overview of days spent abroad, they don’t go far enough. Our app facilitates logging your residency days, creating a trail of records to help in the case of an audit.
You can log in any data that you find valuable to show and prove your location. You’ll not only get a record of your days in a specific country and jurisdiction, but also evidence to support the claim.
2. Cloud-Based Platforms
Cloud solutions are another big technology revolutionising tax compliance and record-keeping. The cloud enables you to:
Centralise your tax data.
Access your records no matter your location.
Collaborate faster with your tax advisor.
Choose who can access the data and what data they can see.
Improve data security, with information stored in secure servers.
Take our Daysium app as an example. The app travels with you wherever you go. You can also share reports with your accountant, whether in the same country or not. But these reports are never automated. We believe you should be in charge of what and when you share.
3. Automated Record-Keeping
When your tax advisor asks for specific records, knowing where to start can seem daunting. Finding corroborating evidence after an event took place months ago is time away from family or work.
Combining the cloud with artificial intelligence and machine learning transforms the process. You can automate many record-keeping processes for tax purposes. When you add AI to the mix, you can also process vast amounts of data, receiving in-depth analysis of what’s happening.
We have our AI assistant, Daysi, who we describe as an extension of your tax advisor. The always-present assistant you can turn to if your tax advisor isn’t available. Daysi can answer your questions and help give you an idea how to solve a problem – and tell you to reach out for your advisor when needed. You’ll get extra support to navigate your record-keeping issues.
The Benefits of Using Technology for Tax Compliance
All of the above three technological solutions come with benefits. Adopting them to your tax record-keeping can help you:
Save time – AI can help automate many processes you previously had to do manually. You don’t have to browse through filing cabinets to find a slip; you can simply search your digital records in minutes.
Reduce errors – Humans make mistakes. While you could write down the wrong date from your booking reference, an app would scan it accurately.
Improve access – The increased access to the cloud means you can take care of tax matters anywhere in the world. Your tax advisors can also access your information without compromising the security of the files.
The above technologies and their benefits ultimately lead to cost savings. You empower yourself to make the most of your tax code and leave room for other things in life – business or family.
Best Practices to Overcome the Risks of Digitalising Your Record-Keeping
In a UK Government survey, 45% of UK adults disagreed with the statement that they feel safe and secure online. Cyber-attacks and scams are still a big issue when using technology and digital platforms.
Dread of digital safety isn’t unreasonable. AON’s survey from 2023 shows one in five businesses in Ireland experienced a cyber attack in 2022.
However, awareness of the possible risks shouldn’t be a reason to stop using technology. The perception can aid you in being smarter with your digital choices.
HOW CAN YOU GUARANTEE YOU’RE SAFE?
The three best practices to digitise record-keeping the right way are:
Choose the right products and platforms. When looking for a product or app, pay attention to security issues. Check what the company says about the security features and ask questions if you can’t find the answers upfront.
Manage access. Use the option to manage and control access to your data. Ensure you understand who can access your data and how the platform stores it. The more control you have over who has access, the better.
Understand relevant regulations. Local authorities set clear rules on how to keep records. Be aware of these rules and ensure all your technologies comply. Again, talking to the service provider is essential to know whether it complies with the regulations.
If you’d like to understand your current risk level better and get actionable steps to improve, take our Risk Score Assessment here. The quick assessment will reveal any problem areas in your current record-keeping and suggest ways to strengthen those areas.
A Case Study: Using Daysium to Revolutionise Your Tax Record-Keeping
We at Daysium are confident technology can revolutionise tax compliance. Our platform offers HNWIs a way to monitor how many days they spend in or out of jurisdictions relevant to their tax residency. With our app, you can:
Establish rules to follow regulations relevant to you and you only.
Plan your future travel to ensure you don’t break the rules.
Log travel in a timeline to avoid data gaps in your tax records.
Provide evidence to support your tax residence claim, making audits faster and smoother for all involved.
Generate reports that can be securely shared with your advisors.
We use automation and cloud solutions to smoothen the above steps for you. You don’t need to spend hours adding information to our app. The automated process enables you to view your day count accurately and in the palm of your hand.
Did you get a call to attend a meeting on the other side of the world? With Daysium, you don’t have to fear missing out on this opportunity. You can look at your profile and see if you can accept it or schedule it for another time.
And you don’t need to worry about security. Daysium doesn’t sell your data or share it with anyone. You can control who gets access to the reports you generate. You are at the helm of this technological revolution, not a bystander. We like to think we are the guardians of your data.
Conclusion
Meticulous record-keeping for tax purposes ensures compliance with increasingly complex tax laws across jurisdictions. Technology can help you prepare for tax inquiries, providing irrefutable evidence to support your adherence to tax laws. The process will be smoother, and your mind will be at ease.
As authorities rely more on digital toolkits, adopting technology also becomes vital for you. Knowing things like your location data optimises your time.
At Daysium, we aim to empower you to control your data better and help you navigate record-keeping efficiently. If you want to know more about our platform, contact us and join our waiting list today.
