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09/09 | by Kitty Miv, Editor - I must be very stupid, because I can't understand why the powers-that-be in Europe keep banging on about a financial transactions tax. I can understand why individual countries or even all countries might impose levies of various types on their banks, even if I don't agree with it, but where I run up against an intellectual brick wall is in trying to fathom why a region of the world which is already challenged by all kinds of uncompetitive regulation should want to hobble itself even further by putting its entire financial sector at a systematic disadvantage vis-a-vis the rest of the world. Continued, below

Sarkozy Announces Pension Reform Concessions
Last updated 15 minutes ago | Thursday, September 09, 2010
In response to nationwide demonstrations that took place recently in France, French President Nicolas Sarkozy announced a series of modifications to the government’s pension reform plans, in a bid to allay fears and to prevent further strike action.
UK Taxpayers Advised On PAYE Letters
Last updated 28 minutes ago | Thursday, September 09, 2010 The Low Incomes Tax Reform Group, an initiative of the Chartered Institute of Taxation, has issued a guide for taxpayers in receipt of PAYE tax calculation letters from HM Revenue and Customs.
FBR To Investigate Pakistani Cricket
Last updated 18 minutes ago | Thursday, September 09, 2010 Pakistan’s Federal Bureau of Revenue has been asked by the government to launch a wide tax investigation into the game of cricket, and its players, in the country.
MEPs Delay Vote On Korean FTA
Last updated 33 minutes ago | Thursday, September 09, 2010 The European Parliament has approved safeguard measures applying to the free trade agreement between the European Union and South Korea by a show of hands, but postponed a final vote until next month to allow for agreement with the European Council.


Lowtax Network Comment System

To ask a question or if you have an opinion you want to share: start a new thread, or reply to a thread below:


Topic: Slovakia
software company, but where?
Hi evbody, in few mounths I have to base my activity of software saling somewhere.
My activity will be e-commerce and my market will be mainly german and english language area.
My collaborator lives in Swiss and he has another employ there but he is not citizens of that country. Could I use his Swiss residence to base the company in his flat?

Anyway how I could do that in other countryes like Hong Kong? I have friends working there and I went there.

Which is best place?

 Jan
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Topic: Lowtax.net General
Please help
I will be selling software online. Where is the best place to open a company if I want zero VAT rates and minimal corporation tax? The company will trade online and should be able to accept credit card payments.I am not concerned about dividend taxation at this stage. Thanks  pete
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Topic: Lowtax.net General
Options after Swiss step-down?
With threats from EU-based governements on Switzerland bank account holders, where should small investors move their money to, or put it in gold? Singapore, Hong Kong, Dubai?  
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Topic: Lowtax.net General
Offshore stock dealing account
I am interested in a personal stock brocking account with 0% capital gains/no monthly fee and be able to trade with UK/USA stock markets.  Dinos
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Topic: Lowtax.net General
Less Tax
If anyone could give me some advice it would be great.

I am thinking of selling a house in Australia, and paying the necessary taxes.
This money will then be transferred to Europe.
I know that if you have cash or other earnings you will not be entitled to an Australian Pension untill that cash disappears.
So that no trace or so that the Australian Tax Office does not know I would still have the cash, where and how do you suggest I deposit it to use as I like when I like?
Is Switzerland safe? Malta? Litchenstein? Anywhere in Europe?
What do you suggest???

Thanks!  Aussie
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Topic: Lowtax.net General
Multinationals
Hi

I work for a multinational company and I have actually my tax residence in Portugal where I pay 42% of income tax. I have the option to change residence to France, Germany, UK, Sweden,Belgium or Nederlands. What can I do to lower this rate a lot?
Txs  
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Topic: Lowtax.net General
divorsed women avoiding tax in Australia
I'm living in Australia and I'm divorsed women. After 3 months I get payment from my exhusband. No children. I have two nationalities: Australian and Polish, but I dont want to live in Poland. I decided to return to live in Europe for several reasons. One of them - I dont want to keep my deposit in Australian Bank, becouce 35% TAX fees. What I can do when I get my check with considerable amount of money? Which is the best country to live? Whish is the best bank to keep deposit and get a good rent? Please, send me your advice. Magda.  
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Topic: Lowtax.net General
Bullion & Precious Metals Offshore Business
We buy and Sell Precious Metals and are looking for an effective Structure

We had thought of setting up an individual Offshore Company (IBC or otherwise)in an Offshore Jurisdiction (please advise what you think is best) which doesn't trade. This Offshore Company would have 'nominee agent' agreements with seperate limited companies in each of its trading centres eg UK France Germany Ireland USA Australia. These 'nominee agents' act as Management Companies in each country for all bullion sales and trading on behalf of the Offshore Company, they charge a fee for this service to the Offshore Company of between 5-10% of turnover of the Offshore Companies Trading Revenue.The other 95-100% is remitted back to the Offshore Companies Bank Account weekly as its revenue after deducting the Management Fees.

1) What sort of Company and Where?
2) The trading is generally all online, servers in Luxembourg?
3) The trading is Global?
4) Are Luxembourg, Malta, Monaco or Madeira suitable? been told that Luxemborg has a new entity an SFC or something which can hold assets inc precious metals but like all the other jurisdictions too
5) Been told Netherland Antilles good as a new base for servers?
6) Should the Offshore Company stand alone or hold all the equity in the 'nominee agent' companies or should they themselves also be stand alone?
7) Bullion is shipped from Mints and other Dealers to us for security and we distribute but we'd like to have it sent direct to one location (Secure Freeport facility and distribute worldwide from there to save VAT, so the bullion would be shipped from mints and other bullion dealers worldwide to us at one vault facility where we'd ditribute it globally but avoid VAT. The VAT is a problem because eg Silver is VATABLE in UK but not Gold Coins and that makes UK Silver prices higher than US...a market disadvantage.
7) The owners currently reside UK but would move to Monaco for domicile purposes...eg UK & Travelling Tues-Thursday then Monaco Fri Sat Sun
8) Just looking for a lawful, honest but tax efficient and asset protected way of trading.
9)Assuming framework of above is set up...the owners then want to protect themselves and remain anonymous after transfer of their interests in above Offshore Company and have their shareholdings held by anonymous nominees or open if their domicile is low tax eg Monaco.
10)The Offshore Company will be used as a vehicle to buy assets, property, bullion and precious metals

Can anybody suggest a way forward as we're totally confused by conflicting advice.. implementing strategy with next 3 months so just sounding out to see who know whats best? Obviously August will be the month we contact chosen advisors and move forward on this

Thanks and thanks lowtax.net  goldagents
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Topic: Cyprus
how to choose an offshore corporation
Hello, there is a situation. I have to reduce income taxes for export production from Russia to USA. As I guess the best way is to use offshore. But which country to choose for this (e.g. Cyprus or Panama, or other). Thanks :)  Monika
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Topic: Cyprus
EU DOCTOR TO TRANSFER TAX DUTIES TO CYPRUS
Could a doctor who is practising in a EU country, transfer his tax duties in Cyprys, while he continues to practise in the other EU country?  JULES PASCAL
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Topic: Lowtax.net General
Best Jurisidction for E-Commerce Web-Site?
I am looking for the best jurisdiction for my e-commerce startup. It is important that it has a DTA with Denmark as the e-commerce startup should be a subsidiary of a danish holding. The main customers are in Europe. I am not looking for a Belize or Seychelles company or any other discount company formation service. Any advise?  
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Topic: Lowtax.net General
Best option for my situation?
I have an e-shop and want to minimize corporation tax payable.My market is Western Europe. I am resident of Canary Islands . Where should I incorporate my company?I need a solution that would take credit card payments online.Thanks  steve
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Topic: Bahamas
E-commerce possibilities in EU
Hi,

We are just thinking of starting an e-commerce solution with fully digital e-products which will work in whole EU at the end. First would start in the languages like English, French, German, Italian and Spain. Later on in all languages that are spoken in EU. What are your suggestion which EU country could be the best solution - tax wise - for such an e-commerce site and why (establish a new company, taxes on sales, taxes for incomes of the owners, etc.? We would like to be resident in only one country and do the sale throughout EU for all citizens.

Your reply is highly appreciated! :)

GD  GD
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Topic: Lowtax.net General
best b2c ecommerce offshore solution ?
I am setting up a new eShop that will sell consumer goods in Europe and Switzerland.
The suppliers are in Europe and the distribution will be handled by independent logistic companies.
I need for my eShop:
- a merchant account (credit card payments from customers)
- a bank account
- anonymity for both shareholder and director
I am now living in Switzerland (but ready to move) and looking for a budget solution.
What would be the best solution? Thanks in advance,
 Fritz
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Topic: Lowtax.net General
Expatriate
My company needs to send some employees to a high tax, North European country for period of 1-2 years. We have established that they would not be liable to any earnings outside this country.

Can anyone recommend how we could set-up a "dual contract" arrangement so that they also have an employment in a 3rd (preferably European) country where they can receive earnings from the dual contract at a low or zero rate? We could arrange them to visit said country for conferences, training advice etc - so prefer it to be in Europe to keep costs low.  
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Topic: Hong Kong
capital gains / salaries tax?
For an US resident to be regarded as self employed ( although not fully established as an entity such as LLC / etc. ) Would trading profits be subjected as salaries tax due to it's my only form of income or disregarded completely because of 0 capital gains tax?  
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Topic: Switzerland
SWITZERLAND
WHAT ARE THE REOMMENDATIONS AS TO SWITERLAND FOR OFF SHORE BANKING? HAS THE SITUATION CHANGED BECUASE OF THE UBS SETTTLEMENT SUIT?  
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Topic: Lowtax.net General
Offshore account and internet
Hi, i am confused a little.

I am from UK and have a very good income from ebay. I fear soon i will have to declare it, i dont want to be taxed or more important pay VAT.
Can i make an offshore account and still trade online, paying my profits into an offshore account and will it be tax/vat free ?

I get my wholesale merchandise with no VAT obviously, from USA. I really dont want to be taxed on my items, so will an offshore account be worth thinking about?

Thanks  David
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Topic: Cayman Islands
UK income?
My wife has been offered a job in the Cayman Islands for 2 years - we'll both be moving there in September. I will be her dependent. We are letting our UK house and will return to the UK rarely (if at all). I expect to satisfy HMRC that we are both non-resident.

I've handed my notice in with my employer as an IT worker - and my employment will cease before I move, however they have asked me to do some consultancy work from the Caymans. (I will physically reside in the caymans throughout).

What is the best way to set this up - tax wise? I've considered UK Company, LLP and/or cayman company... UK is best for setup costs - but I think a decisive break with the UK is best?

Am I right in thinking that a cayman company - which offers services to UK organisations - would be liable for UK tax on UK earnings?

Considering I'll be non-resident - what tax would I pay on this if me and my wife were setup as an LLP? (Would an LLP be any use at all??).  Nearly in Cayman
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Topic: Lowtax.net General
freezone company - move back to UK
I ama british national living in dubai for last 13 years, and currently have a UAE freezone company, all business is in the middle east region, (design consultancy)

I am considering my taxation liability if i decide to reside in the Uk again, but travel once a month to UAE to manage my business/staff in uae, then return to Uk in between

 
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"If my weasel of a husband files as head of household, it's tax fraud."
CARTOON ARCHIVE

Continued, from above. It all reminds me of the way in which countries struggled to regain control of the foreign exchange markets in the 1970s (yes, I am that old!) when it was obvious that capital markets liberalization had reached a point at which organized exchange rate management had become impossible.

There was pact after agreement after convention, and countless central banks wasted their substance and their gold reserves in trying to stem the tide, and failed.

Now we are seeing the same thing with a financial transactions tax. The markets have already won, and there is not going to be any international agreement to put a tax, however tiny, on its workings. Or if they are silly enough to do it, there will always be stand-out regions or cities which will make bundles of hay out of it. Hong Kong, for instance.

But as I said, I must be wrong, and it's me that's being silly. So don't listen to me!

Ciao, Kitty.

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This feed is published daily with selected new or updated content from across our network. For a list of network sites, many of which feature daily news, see below.

 
08/09 New PBTG Editor Column, Caroline, PBTG editor
07/09 Flaws Uncovered In UK PAYE Tax System, Tax-News.com
06/09 German Cabinet Agrees 'Future Package', Tax-News.com
03/09 South Africa Rejects Mining Tax, Tax-News.com
02/09 New Lowtax Editor Column, by Kitty Miv
01/09 New PBTG Editor Column, Caroline, PBTG editor
01/09 International Privacy and Security, Investors Offshore special feature
31/08 Lowtax Belize, annual update
27/08 IRS To Drop UBS Lawsuit, Tax-News.com
26/08 New Lowtax Editor Column, by Kitty Miv
25/08 New PBTG Editor Column, Caroline, PBTG editor
24/08 Uruguay Stays On OECD Grey List, Tax-News.com
23/08 Don't Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore blog entry
20/08 Ireland Plans Social Security Overhaul, Tax-News.com
19/08 New Lowtax Editor Column, by Kitty Miv
18/08 New PBTG Editor Column, Caroline, PBTG editor
17/06 Lowtax Cayman Islands, annual update
16/08 Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com
13/08 Jurisdiction Special Focus: Antigua and Barbuda, Investors Offshore special feature
12/08 New Lowtax Editor Column, by Kitty Miv
11/08 New PBTG Editor Column, Caroline, PBTG editor
10/08 Brazil Cuts Import Tariffs, Tax-News.com
09/08 Ukraine Tax Code Published, Tax-News.com
06/08 France Plans Reform Of Property Tax Credit, Tax-News.com
04/08 New PBTG Editor Column, Caroline, PBTG editor
02/08 Islamic Finance - The New Mainstream Alternative, Investors Offshore special feature
28/07 New PBTG Editor Column, Caroline, PBTG editor
27/07 UK Launches Raft Of Tax Consultations, Tax-News.com
26/07 Fat Tax On The Menu , Jeremy Hetherington-Gore blog entry
23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com
20/07 Singapore Base For Tuvalu OIFC, Tax-News.com
15/07 St Vincent & The Grenadines, Investors Offshore special feature
13/07 Tax- News.com Jersey Review 2010-2011
12/07 Goodbye To All That, Jeremy Hetherington-Gore blog entry
06/07 Hong Kong Full PBTG Guide, added to Personal Business Tax Guide
28/06 Lowtax Dubai, annual update
18/06 Singapore - Another Hong Kong?, Investors Offshore special feature
15/06 Swiss Parliament Approves UBS Agreement, Tax-News.com
08/06 Dubai Full PBTG Guide, added to Personal Business Tax Guide
04/06 Lowtax Panama, annual update
01/06 Lowtax Luxembourg, annual update
03/03 Personal Business Tax Guide, PBTG, has launched!
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