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      How to Update Your Tax Country

      To update your Tax Country in PaymentWorks, follow these steps:

      Steps to Update

      1. Log In

      2. Navigate to Company Profile

        • Click on Company Profile located in the top-right corner of the dashboard.

      3. Access Business Details

        • Within the Company Profile, select the Business Details tab.

      1. Edit Information

        • Click the Edit button to modify your details.

      2. Update Country of Citizenship

        • Locate the Country of Citizenship field, update it to your current country, and then click the green Save button at the bottom.

      When Would a Tax Country Change?

      A Tax Country change typically occurs under the following circumstances:

      1. Change in Business Operations

        • Your business relocates its headquarters or primary operations to a different country, altering its tax residency.

      2. Change in Legal Residency for Individuals

        • For individuals, moving to a new country and establishing legal residency there may require a change in tax country.

      3. Mergers or Acquisitions

        • If your business is acquired by or merges with a foreign entity, the tax residency may change to align with the parent company’s jurisdiction.

      4. Reclassification of Tax Obligations

        • A restructuring of your business that changes tax obligations to a different country.

      5. Compliance or Regulatory Updates

        • If a customer or tax authority requests a correction or update to ensure compliance with international tax laws.

      6. Dual Tax Residency Resolution

        • Resolving conflicting tax residencies in multiple countries by aligning with a specific jurisdiction.

      Important Note

      In the Business Details section, the "Tax Country" field changes to "Country of Citizenship" when editing. Ensure you update this field correctly.

      Tip: Before making changes to your Tax Country, consult a tax professional or your accounting department to understand the implications for tax filing and compliance.