GST

Offshore Tax Planning Services

Tax Planning Services

When working and living outside of your country of citizenship it would seem that paying taxes to your home countries government would be unreasonable, now-a-days though it does happen. However by making use of current and innovative tax planning services, you can come up with a tax strategy that is best suited for you.

There are a number of effective tax planning services available to both individuals and businesses alike. By utilizing effective tax planning strategies, you can save substantial amounts of money on your taxes. Tax planning is not the same as tax evasion, and is perfectly legal when done correctly. However to plan your taxes well, you will need some assistance and guidance, and that is where we come in. We offer a wide range of tax planning services and are fully equipped to assist you with all of your tax planning needs, as well as advise you on the best tax planning steps to take. We can also help you to implement your tax planning strategies.

For advice and guidance on the best tax planning services and strategies or for more information on what effective tax planning can do for you, Contact Taurus Offshore Tax Advisors today.

HOW TO CHOOSE AN INTERNATIONAL OFFSHORE FINANCIAL CENTRE?

TAX AND NON TAX FACTORS – A CHECKLIST

Some of the significant factors that are often considered in the selection of an international offshore financial centre are listed below:-

Tax Benefits

  • Level of Taxes
  • Nil or low withholding taxes
  • Treat Benefits
  • Anti Avoidance Rules
  • Stability of tax laws

Offshore Regulation

  • Incorporation and compliance Requirements
  • Speed and ease of incorporation
  • Local compliance requirements
  • Awareness of latest rules and practices
  • Network with onshore advisors
  • Knowledgeable local and onshore advisors

Professional Services

  • Speed and quality of service
  • Confidentiality and trust
  • Accounting and auditing standards
  • Local Training facilities
  • Professional code of conduct
  • Regulatory and ethical standard

Image and Reputation

  • Political and economic stability
  • Quality of regulation and flexibility
  • Guarantees and certainty of treatment
  • Local attitude of foreign investment
  • Level of corruption and red tape
  • International reputation and awareness

Convenience Factors

  • Ease of access and communications
  • Confidentiality and privacy
  • Ease of incorporation and operational management
  • Financial disclosure requirement
  • Suitable time zones
  • Ability to change jurisdiction ("re-domiciliation")

Social Factors

  • Comfort factors" e.g. ethnic, cultural, etc.
  • Language barriers
  • Respect for "time"
  • Attitude towards business
  • Quality of life and social values
  • Attitude towards foreigners

Cost Factors

  • Set up and recurring compliance cost
  • Cost of local professional service
  • Cost of international tax structure
  • Cost of communication and travel
  • Cost of revenue negotiations
  • Cost of litigation

Legal Framework

  • Regulations over offshore activities
  • Quality of local laws and legal services
  • Investor protection under the law
  • Efficient tax regime and treaty network
  • Import and export controls, and customs duties
  • No or few unwarranted law or regulations

Financial Issues

  • Sources of available finance
  • Interest rate and borrowing terms
  • Borrowing regulations.
  • Exchange controls
  • Other financial services
  • Financial incentive

Currency Exposure

  • Currency stability
  • Ability to manage multi-currencies
  • Speed and ease of currency transfers
  • Banking regulations
  • Offshore banking facilities
  • Requirement of repatriate profits

Commercial Infrastructure

  • Ease of communications and travel
  • Financial and business infrastructure
  • Professional, commercial and banking facilities
  • Government procedure and practices
  • Lack of red-tape and bureaucracy
  • Local employment laws and labour availability

Personnel Considerations

  • Availability and cost of personnel
  • Quality of local personnel
  • Work culture and employment laws
  • Ability to use expatriates
  • Cost of expatriates ( including taxation)
  • Quality of life for foreigners