In a down economy, international planning is even more important.
Richard Branson moved assets from the U.S. to the British Virgin Islands, highlighting his use of tax havens at a time one of his businesses sought a state bailout because of the coronavirus pandemic.
The Internal Revenue Service is giving foreign banks and financial institutions more time to file information about U.S. taxpayers with overseas bank accounts because of the coronavirus pandemic.
One strategy being used across international regions is to utilize value-added tax measures as a flexible and effective response to the economic slowdown.