When an organization begins to expand globally, or even when a global organization enters a new market, the compliance challenges can be considerable and multiple.
In this podcast, Dr. Shan Nair, President of Nucleus explains that companies need to worry not just about issues such as anti-corruption and data privacy. There are a host of HR, accounting, corporate taxation, indirect taxes, withholding taxes and other compliance issues.
In addition to these obligations there may also be filing requirements. Germany, for example, requires a special filing if a local subsidiary is not self-funding.
Making things more complicated is that a trusted source for compliance advice in one area likely is completely unaware of the challenges in another.
The bottom line is that it takes a concerted effort and a very local approach to meet all these obligations and ensure that the organization is compliant not just on the big issues, but on the dozens of less headline grabbing ones as well.