Discussion in 'Business & Tax Advice' started by valdorion, Dec 31, 2015.
That's why you don't want to hide your money offshore but report it and make an tax efficient corporate structure!
Damn this is crazy. Good ole uncle sam getting their money.
Indeed people should know better. That being said, there is a surprising number of people who still believe the "swiss myth" that offshore accounts are secret and out of the reach of tax authorities.
I make it a point to pay my taxes every year...it's good to pay taxes.
the primordial problem is less with "paying" tax but moreso with what is disclosed by reporting income... think loss of family, personal and educational preferences that depend on not exceeding certain tax brackets etc., ... the reporting part brings moretrouble to people than the paying part, to be totally honest
wait until you have to deal with prorated monthly vat and customs taxes...
Well, there are other reasons than tax to file for an offshore company.. one among many are privacy and anonymity. So there are offshore jurisdictions that have more simple regulations in regards to financial services, Adult, Gambling and so on compared to onshore countries. The need for offshore companies will always be there..it's just how you set it all up.
When did tax agencies start contacting ones friends and family telling them about how much the person is making?
not just that; there are jurisdictions that proactively fine family for not telling
How is the family going to know what someone makes in order to report to the government if they don't have access to that person's bank account(s)?
Read the list carefully and notice which first-world country isn't in there... and it's not a typo.
Separate names with a comma.