is it true you dont owe any country income tax if

just pay your taxes

OK PP!! I was not trying to be a smartass either :-)

Mmm.. dunno anything about "federal crimes" in the US - that's up to em to sort out!

First.. I'm not talking about the US - that is the exception. And, for other people this is not a problem. About only four countries on the planet chase their citzens over the globe on tax issues. Other countries don't have this problem.

What country has you thinking of that chases their citizens living in low or nada tax areas for money? They also don't have tax obligations (as long as they settle up before leaving!) in the home country. I only know of four and this has nothing to do with corps, which, agree - there is latitude on!

On advice... we are talking legal offshore status - the last thing anyone legally offshore wants to do is consult a tax attorney for taxes that don't exist Mmmm.. never came across an offshore tax attorney yet - unless contiminated "half on-shore/offshore" scenario - which is a totally different breed.

Or... to put that another way - I'd sure as fuck hate to live off the fees he would get!!!

I gotta go PP! But maybe ya can chat later to a sig whore and get some real experience of offshore living - instead of some "concept" of it from the US Virgin Isles or Bermuda!!

this is where you are either missunderstanding me or are missinformed. in the US for example it does matter. the US does not vary much from the EU in this respect. So i can't believe it doesn't matter in over 200 other countries and I certainly would not consider it bad advice to tell someone to get local legal advice to make sure you know where you stand. If you were correct and "only 4 other countries would chase you for.." then you could easily post those countries and we could discuss and debate that point. I would bet you are very wrong, because i do business in more than 4 countries outside the US and am very familiar with their tax law as well and know that offshore issues and foreign earned income are dealt with even harsher than the US does.

In the US, it matters who controls the company, how it is controlled, who controls the money and so on. you can't just set up a sole proprietorship in Country XYZ, earn money there and tell the IRS to fuck off. You would still liable for taxes in the USA for all of it which would be considered personal income. So.. it does matter right? that is the same for any other country although the EU has some new double taxation laws that are pretty slick, you can't say "it doesn't matter". every detail matters.

you are confusing the issue about attorneys. make fun of americans.. thats fine. but you are missing the point that i keep making... i dont need an attorney in the bahamas to tell me about the tax benefits of the bahamas or to create a company or open a bank account in the bahamas. i need an attorney in the US to tell me what structure will work for me, my business, my financial needs, what jurisdictions make the most sense and what structures will offer maximum protection at home if it is challenged (which can and most likely will happen) that will not break US law or somehow lead back to me legally and be shown as being under my control for example and change either the tax and legal picture.

i have spent the last 9 years living in Europe and Russia. I speak fluent Russian. I have over 200 employees and companies in 6 different countries that work in offices that my companies own. I am frequenlty in Russia, ukraine, london, czech republic, holland and sweden so we can meet anytime you want to talk biz. and i do i have a little experience about how these countries operate, tax law, employment law, business law, banking laws as well and what agreements they have the US. i have attorneys in every country that i work with to keep everything within the law... because unlike some, i am not prepared to risk 30 years in prison because i thought i had it all figured out.

on occasion, you have resorted to remarks inferring that i am just some american idiot that is reciting what he saw on the Discovery Channel - but thats just not the case.

OK! Very quick reply!

The US is VASTLY different from the EU.. in one fundamental way. It has no problem with citizens moving to other parts of the world and these folks have no obligations to fill any tax forms on an annual basis and send them back to their home countries. Course - they supposed to bring their taxes up to date before leaving!

Also.. they do not expect, say.. someone from Holland who wants to live in.. anyplace, to account for their income or movements to anyone. They are not interested - ie.. they don't care because no taxes are due. It's the same with ex-pat Canadians and most other countries.

That is totally difference from the US where filings are required each year and a statement of "worldwide income"....

Hell.. sorry.. ain't got the time to discuss stuff that is already known... The four countries are US, Saudi, Lybia ... and can't remember the other - in the Balkans someplace!

Once again - this has nothing to do with the US - the laws their don't matter a toss in other countries. And... oh boy!!! :-) Na.... if you want to learn about corps - speak with a decent offshore lawyer - not some bs about "sole props" and all that stuff - that is all US bs and the IRS have nothing to do with what I'm talking about - it ain't about the US.

Sorry man!! Gotta go!!!

Very intresting thread

I'm currently in the UK and figure hey why should I stay here and pay taxes when my business is exclusivley online?

Where's a good plays to move to? What's this 180 days thing?

In the UK we have the term "deemed domiciled" which would determine your country from a tax perspective but Im fucked if I can recall the details. However it might give you grounds for research.

you would have to pay income tax over the income you make during the period you stay in that country ( like actors ) Or for example if you are canadian you would have to pay income taxes over your worldwide income.

More or less....
Yes you can do that... But it's easier said then done. Just have to make sure you don't re-patriate you money.

Webby,

for an EU citizen where would you suggest is best?

I was thinking about moving the business offshore into Gibraltar, but the loophole is closing I think by 2008.

The UK, btw, is another country that hounds and chases and doesn't let go. Once you are on "Self Assessment" they will demand returns every year, fine you if you are late, didn't get it etc and fight to stop you going off the radar.

So if you are off the radar seems like you might be better off staying there.

Only to an extent. If you inform the IR that you are no longer self-employed in the UK (in effect you've 'ceased trading') then they no longer hound you. If you then move to another country and earn your income there you have nothing to report back to the IR and certainly will not owe them taxes.

As has been mentioned that is vastly different fromt he US.

Do the revenue have access to your bank accounts?

Tipsy,

It seems informing them and them doing something about it is the problem.

Lots of people here with very straightforward financial situations having problems with the IR not letting go.


Whilst one department says they no longer need to file a return etc, the other is sending out fines *and* in some cases trying to get to people through relatives.

Quite interesting when those people affected appeal against decisions and choose to have the appeal at their place of residence.

To be honest not sure, I think they must do.

You'll find out when they sit you down one day and say "are you sure there isn't something else you want to tell us about?".