All the SECRETS to pay ZERO TAXES thanks to tax havens | PART THREE
Low-tax countries behave like tax havens when compared to Western countries, as they require the payment of a minimum fraction of the taxes that you pay in high-tax western countries, in some cases a quarter or even a fifth.
Examples of this type of countries are Barbados or Cyprus.
But these are just two examples, as there are dozens of countries that fall into this category.
It is interesting to note that in some cases the savings are greater by choosing a low-tax country than a total tax haven.
In fact, for some categories of income there is a problem in using total tax havens: the fact that many of these countries have not concluded treaties against double taxation.
This could involve paying heavy withholding taxes on certain foreign earnings (for example, if your earnings come from shares of companies listed on the Nord American market, if you are a resident of a tax haven they will charge you a withholding tax of 30 percent).
As is the case with advertising earnings paid to creators by online platforms, such as youtube.
In certain cases, therefore, it may be more efficient, from a tax point of view, to use a low-tax country, but combined with a treaty to avoid double taxation, rather than simply relying on a total tax haven.
Then there are exceptional categories of countries, which act as a tax haven only for certain categories and not for others; for example, only for people, or only for companies, or only for people who have incomes that fall into certain categories but not others.
Finally, there are forms of planning that allow you to enormously reduce the tax burden thanks to a particularly intelligent and cunning use of the rules contained in the treaties against double taxation.
If you need specific advice, you can contact us.
Remember that laws change all the time; therefore it is essential to check the law in force when you decide to relocate or move abroad.
It is also very important that you speak to your international tax attorney before starting any type of tax planning or relocation of your business.
If it is your first time, here are some examples of the results our tax lawyers can help you achieve:
- international tax optimization, to cut down your taxes (even to zero)
- analyze your specific situation and your business situation to help you choose the best country/countries for your specific needs, which guarantees you both tax savings and everything you wish for;
- protect your assets, making them "untouchable";
- become an international / global entrepreneur, able to use all world regulations and tax advantages to your benefit;
- making you profit using tax havens;
- acquire multiple residences;
- acquire new passports;
Check our main page now and contact us https://yourinternationaltaxlawyers.net