Google Adense: Pay little to no taxes

[gazmo]

xdarknightz: to have an idea, do you know how much taxes/pension I have to pay in Costa Rica?

I searched also for Bulgaria (cited in another thread), seems to be 10% plus 65€/month but not sure becouse I was not able to contact anyone living in that country.

I can confirm that this is the exact amount of money that you'll pay as tax in Bulgaria.

I'm Bulgarian myself which gives me an unfair advantage - no other country can taxf*ck me even if I decide to live in Berlin for 2-3 months, Split for another 1-2, etc... The EU rocks <3

Not sure what the situation would be for someone who is not registered as having a permanent residence here but I think a talk with a lawyer will be well worth it in your case.

What's also beneficial is that if you decide to expand your business and hire some IT personnel you can find highly qualified people working for peanuts. I'm a software developer myself and I still outsource a lot of the work simply because I can and it's cheap.

As for permanently living here - you might like it but it might not be your cup of tea. You can live a very decent life on 1000euros/month, practically saving all of the rest or investing it. As for the rest - it really depends on the person you are - but if you are seriously considering it I can help you out with the decision so feel free to PM me

 

[phluid]

For 4,000 Euros a month it won't be worth trying to get out of taxes. You can live somewhere cheaper and at least your money will go further. If you are from the United States then it is possible to legally only pay a few percent per year for your taxes but there are definitely quit a few new fees you bring on and things you have to work with, such as you can't be in the United States for more than 90 days a year. If you aren't making at least $200,000 a year then it's not really worth it.

 

[max8max]

Gazmo: many thanks! How is the bureaucracy in Bulgaria? You just have to make a tax return at the end of the year? Do you think I have to pay, in this case, also the 65€/month pension contributions even if, de facto, I don't work (and I will live in Bulgaria for just 6 months after all). I'm sorry but, due to a limitation of the forum, I cannot send PM at the moment.

 

[max8max]

onlineonly: thank you again. Anyway, I must result resident because otherwise I'm required to pay taxes in my country, so I would need a real residentvisa: do you know it's easy to enter the Philippines and ask for a residentvisa?

 

[fheaky]

Check out Panama, you pay no tax on foreign income there. Cost of living is pretty low, nice beaches,nice weather. I'm most likely moving there myself for the same reason soon.

 

[dazk2002]

I live in Bulgaria and I'm British. It's a flat tax rate of 10% but the 65 Euros per month is not correct. It's a great country to live in with great people, whether and cheapest cost of living in the EU. Property prices are also the lowest.

xdarknightz: to have an idea, do you know how much taxes/pension I have to pay in Costa Rica?

I searched also for Bulgaria (cited in another thread), seems to be 10% plus 65?/month but not sure becouse I was not able to contact anyone living in that country.

 

[max8max]

fheaky: very interesting. Do you mean i haven't to declare nothing, in full legality? I even don't have to make a tax return/declaration and I don't have to pay nothing related to pension? do you know if it's hard for an european couple to receive a residentvisa for one year? (I have to write residentvisa in a single word because the forum block the words resident and vi5a if written separated, for spam)

 

[max8max]

dark2002: great feedback! Do you mean you just pay a 10% tax and nothing more (65€ for the pension or something else)? I read the minimum of 65€ was obligatory, but I obviously hope you are right. May I ask if you work in Bulgaria as a freelancer? if so, you simply make a tax return at the end of the year helped by an Bulgarian accountant?

 

[dazk2002]

I'm a freelancer here and I had to form a LTD company but you can also be a sole trader. You just pay the flat rate of 10% via an accountant and they deal with everything. I've never been asked for anything else and I've lived here for 8 years.

dark2002: great feedback! Do you mean you just pay a 10% tax and nothing more (65€ for the pension or something else)? I read the minimum of 65€ was obligatory, but I obviously hope you are right. May I ask if you work in Bulgaria as a freelancer? if so, you simply make a tax return at the end of the year helped by an Bulgarian accountant?

 

[max8max]

I've never been asked for anything else and I've lived here for 8 years.

this is absolutelly great. I think Bulgaria can be one of mine possible destination. Aslo Panama could be great, if really tax free for foreign income as fheaky was reporting.

Anyone living in Ireland, Andorra or Albania can clarify how much you have to pay on taxes in these countries being paid by Adsense? I also hope this thread could be helpful for someone else in the same situation: if your incomes came from internet, after all, you can go everywhere in the world

 

[almir012]

Do you have a company in europe ? Maybe I have a good deal for you.

 

[pickmeup]

also interested in this topic, but I live in the U.S.

 

[fheaky]

fheaky: very interesting. Do you mean i haven't to declare nothing, in full legality? I even don't have to make a tax return/declaration and I don't have to pay nothing related to pension? do you know if it's hard for an european couple to receive a residentvisa for one year? (I have to write residentvisa in a single word because the forum block the words resident and vi5a if written separated, for spam)

Panama really wants people that will boost the economy to move there so they make it really easy to get residency. You just need 5k in a bank account and incorporate there I believe. Compared to Costa Rica where you need $60k in a bank account the requirements are really not bad. You do not have to pay any tax on foreign income, I'm not sure if you have to make a tax return or anything though.

http://www.nomoretax.eu/living/relocation-to-panama/
http://www.tax-news.com/features/Panama_Tax_Law__570925.html

There are a lot more sources that back up my claim that you do not pay tax on foreign income if you're a resident in Panama.

 

[and5rey]

Russia could be an option for you, too. The tax there is around 13 - 20% (I'm not sure how much exactly, Google it). Maybe you've heard that Gerard Depardieu became a Russian citizen to avoid paying high French taxes.

You could move to e.g. St. Petersburg which is a very nice city.

 

[max8max]

St. Petersburg which is a very nice city.

I visited St. Petersburg many years ago and is a very beautiful city, but tax in Russia (from 13% to 30% as I know) are not so attractive, also due to the difficulty to enter Russia with a residentvisa.

 

[mickyfu]

I am so glad I do not take tax advice from BHW. Go and see an accountant and find out your options, instead of listening to clueless kids on here who make paper round money. However if I was only making 50k, I would not bother.

 

[whynotmakeit]

I am so glad I do not take tax advice from BHW. Go and see an accountant and find out your options, instead of listening to clueless kids on here who make paper round money. However if I was only making 50k, I would not bother.

This...and I sure as hell wouldn't trust leaving it with G

 

[max8max]

There are a lot more sources that back up my claim that you do not pay tax on foreign income if you're a resident in Panama.

Many thanks, your post could be very useful to me (and all others in the same situation). I will investigate more deeply on Panama tax on adsense revenues. Unfortunatly, anyway, Panama is not supported by Google Adsense (I cannot post links, but you can google "google adsense etf" and follow the link "our supported countries"), so I hope checks or something else can be used for this country

 

[max8max]

I am so glad I do not take tax advice from BHW. Go and see an accountant and find out your options, instead of listening to clueless kids on here who make paper round money. However if I was only making 50k, I would not bother.

I'm not searching anything special, I just don't want to pay 70% of tax (or even more), maybe searching for a 10% solution. For just 50k/100k, something more complex than moving (as a freelancer) to a different country is not justified in my opinion. It's just a temporary one-shot solution, nothing more.

 

[Aluminium]

I've been struggling with the concept of taxes for a little bit now, I'm just only starting to understand what I can write off and such.

There's certain loopholes that allow you to pay less taxes (here in Canada, at least). Things like claiming 10% of your rent or hydro if you work from home, as well as gas for "business trips".

I even claimed my trip to Amsterdam because I worked a little bit while I was over there lol (and just so happened to meet up with a few aspiring IM'ers like myself, they actually gave me the idea and a friend made it work).