Many International Businessmen register theirs as "Offshore Company" for the Package-of-Incentives attributed to Tax Haven Countries. Non-Disclosure of Ownership, Tax-free benefits, unrestricted FX On-Line Banking are some of the many.
2007-07-06 12:55:56 · 3 answers · asked by manilaman 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
What is BVI's Comparative Advantage versus other Tax Haven Countries?
2007-07-08 16:56:50 · update #1
Doesn't really matter if you are a US citizen or resident. You are legally obligated to report all income from all sources world-wide and pay any taxes due. The IRS has ways of determining your income if you don't cooperate.
One of their most powerful weapons is simply estimating your income based upon observable items such as lifestyle, cash flow in and out of US banks or foreign banks that DO cooperate with the IRS, etc. They'll levy the tax that they think is due (with penalties and interest of cours) and it's up to YOU to prove otherwise. Needless to say, their estimates will usually be WAY high compared to reality so this is a major incentive to come clean after the fact or, better yet, play by the rules in the first place.
2007-07-07 06:55:32 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
i'm getting close to that 250 element while i will pay the 'we hate you tax'. i think of i could have been given for puuting some in the islands and a few in switzerland. i could additionally paintings on gold purchases as a employer rate. You never understand how a strategies those libs will take the 'we hate you tax'. quickly it will be that each and every physique who turns into "wealthy" is in the present day stripped of each and every thing and compelled to start over.
2016-11-08 08:58:05 · answer #2 · answered by jannelle 4 · 0⤊ 0⤋
huh?
2007-07-06 14:17:49 · answer #3 · answered by theartisttwin 5 · 0⤊ 0⤋