tell me about tax havens
TRANSCRIPT
Tell Me aboutTax Havens
Byhttp://robertgirga.com/RobertGirga/
Many individuals decide to bank, do business, set up
retirement trusts, and retire offshore because many offshore
jurisdictions are tax havens. http://robertgirga.com/RobertGirga/
The term tax haven refers to a jurisdiction that is tax advantaged in some way.
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Not all tax haven jurisdictions are alike.
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Depending upon the needs of a corporation or individual, different one offshore jurisdiction
will be more appropriate than another.
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What are the advantages of a tax haven? A so called tax
haven may levy no significant taxes. It may have very low
tax rates.
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. It may only tax income earned in the country. Some jurisdictions may have tax treaties with your nation of
origin barring double taxation of income.
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Besides, similar to tax incentives offered in countries around the world, an offshore
tax advantaged jurisdiction may offer want to attract investment with special tax treatment for
investment, for retirees moving to the country, and the like.
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For companies setting up business in an offshore jurisdiction there can be
meaningful tax incentives such as long term forgiveness of taxes for investing in a wide range of businesses and/or for
employing local people. http://robertgirga.com/RobertGirga/
Here are six broad classes of tax havens as of this writing.
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The Jurisdiction Does Not Levy Any Taxes
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No tax, tax havens include the Bahamas and Bermuda, Anguilla and the Cayman Islands, Nevis, Turks and
Caicos, as well as St. Vincent, and Vanuatu.
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Only Income Gained in the Jurisdiction is Taxed
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Countries such as Panama, Costa Rica, and Belize in
Central America, Gibraltar, Liberia, and Hong Kong only
tax your income if you obtain it from investments and business
in that tax jurisdiction.
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No Double Taxation Plus Low Taxes
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Nations that provide the benefit of no double taxation
plus low tax rates include Singapore, Luxembourg, the Netherlands, the Netherlands Antilles as well as the British
Virgin Islands.
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Unique Tax Laws
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The Isle of Man and the Channel Islands have a
number of unique laws and provisions that are attractive to those wishing to reduce
their tax burden.
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Individuals Get a Break
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Monaco, Andorra, Sark, and Campione d’Italia all provide individuals with unique and
often beneficial tax treatment.
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Tax Advantaged Jurisdictions for Businesses
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International business companies often find favorable tax laws in Jamaica, Montserrat, Grenada,
Barbados, and Antigua.
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It Is Not All JustAbout Taxes
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When you plan to set up business offshore remember that the laws of the country regarding
offshore businesses may be crucial.
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You would like to obtain the lowest possible tax rates or
not pay any taxes.
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However, if local rules and regulations make it hard to do business this may offset any
tax advantages. http://robertgirga.com/RobertGirga/
Investigate, get good advice, think about it before making a
decision.
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For help in this regard contact www.RobertGirga.com.
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You will probably want to set up a wide offshore solution for managing business, assets,
retirement, and privacy measures.
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You will probably want to set up a wide offshore solution for
managing business, assets, retirement, and privacy
measures. http://robertgirga.com/RobertGirga/
Make sure that your choice of tax haven does not interfere with your use of a Panama Private Interest Foundation, Belize Corporation,
or New Zealand Trust.
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With these facts in mind it is important when addressing the
issues of offshore taxes, business, retirement, and living
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to obtain the help of competent counsel.
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The World Changes, Even tax Havens
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An excellent reason for retaining competent and
reliable counsel in choosing a tax haven is that tax laws,
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like all laws, can change.
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Working with competent counsel will help you choose a
stable situation
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in a stable jurisdiction not likely to modify their laws
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Working with an expert in the field will allow you to receive the most up to date
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and accurate advice
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when setting up a wider offshore solution to reduce or eliminate tax liability, maintain privacy, and do business most
profitable offshore.http://robertgirga.com/RobertGirga/
NOTE:This article is a general
description of tax advantaged jurisdictions.
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We describe how to approach the issue of reducing taxes.
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Please seek the advice of competent counsel before choosing a jurisdiction in
which
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to do business, bank your money, retire, or set up a private interest
foundation or corporation.
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Contact us today at www.RobertGirga.com