According to the Tax Foundation, the average highest corporate income tax rate is 22.9 percent, or 29.8 percent when weighted by GDP. However, some countries have significantly higher corporate tax…
When looking at where to incorporate their businesses, owners often try to find jurisdictions that are business-friendly.
The release of the Panama Papers last April certainly ignited a firestorm of controversy and made for some sensational headlines. However, chances are that not everything you’ve heard about this now-infamous leak is true.
It’s true that offshore accounts and businesses can present a number of advantages, helping you minimize your tax liability, better protect your assets, and enhance financial privacy.
An offshore trust works just like any onshore trust. It involves legally transferring assets out of your name. A person known as a trustor or settler sets up the trust to benefit a beneficiary, giving charge of the trust to a trustee.
Trust can provide a number of different financial advantages, from helping your beneficiaries to avoid probate to ensuring a specific family member receives financial support after you have passed away.
Many countries, including the U.S., tax citizens’ worldwide income — even if they aren’t living or working in their country of origin. In addition, most countries in the world will tax income generated by a person working and living within the country.
The term “offshore investing” refers to investment strategies that can help an investor capitalize on the benefits of investing in a jurisdiction outside of his or her country of domicile.
Trusts can be quite useful when it comes to tax planning, helping your beneficiaries minimize their tax liabilities. However, there are a few things you need to know, especially if you are planning on setting up an offshore trust.
Following the leak of the Panama Papers earlier this year, there has been much talk about tax evasion and tax avoidance and cracking down on the global elite to make sure they pay their taxes.