What country is my epassporte money in?
 

I think this is an interesting question for tax purposes.

I have an epassporte account, it has money in it, what country is that money currently being held in?

I have a feeling there is only a few people who can answer this question.

I also have a feeling that the answer might be Curacao.

Curacao. ;>

Are you sure?

why exactly would it matter?

Its split evenly for redundancy and security between Moldavia, the Ukraine and Chechnya.

Tax reasons

If you're trying to avoid taxes, don't just go off-shore. Go off-planet. Send your funds to my new moon bank.

Why? I think you need to learn a bit about tax laws

Do you know what country I'm a citizen of? Not all countries have the same tax laws.

Thought you are in the US, where are you from?

Arrghh....next Escortbiz will pull up your home address, your phone number, and your dick size. Phear! :glugglug

I was born and raised here www.sealandgov.com

It's a bank in St. Kitts and I'm very sure. :)

You US people are funny. If I register my company in an offshore legislation, bank in an offshore legislation and keep the money in an offshore country there are simply no taxes. If you live in the Bahamas e.g. there is no tax period. If you live in the US or Europe there are ways to get around taxes absolutely legal.

The answer to a question like this is one of the things you need to know to plan accordingly. The problem in adult is that many people can take photos and put sites together but running a business to be most efficient is a different matter. So lecturing people who ask questions like this is not wise.

That statement is absoultely false. I suggest you read up on tax laws in the US. As a matter of fact, the Treasury Department is aggressively pursuing those who are attempting to hide assets "off shore".

We have a Bush running the country. What do you expect?

Only income of an indvidual is taxable. If the corporation that individual controls is outside federal control then the FED has no say nor claim.


Btw, I dare you to prove the Treasury Department a "Federal" agency and how such a federal agency can legally tax individual citizens. Read the Constitution on that last point.

Very true. The US tax system doesn't make it very easy to save on taxes by having income in other countries. However, there are many countries don't require their citizens to pay income tax on income that is earned outside the country.

WASHINGTON (CNN) -- The Internal Revenue Service, hoping to recapture tax money lost through the use of off-shore financial dodges, is offering violators a chance to escape prosecution if they come clean -- and give the IRS information on people who promote the illegal practices.

To qualify under the program, taxpayers who have used offshore payment cards or other offshore financial arrangements to hide taxable income must first report the income; second, pay any back taxes, interest, and some "accuracy or delinquency" penalties; and, finally, give the IRS complete information about promoters of the suspect arrangements.

Taxpayers who formally request to participate in the program -- named the Offshore Voluntary Compliance Initiative -- by April 15 will be able to avoid criminal prosecution, as well as civil fraud and information return penalties.

The IRS estimates that thousands of U.S. citizens may be purposefully avoiding taxes through such practices as transferring unreported income to foreign financial institutions and then using credit, debit, or charge cards issued by those institutions to spend the money. Holding the cards is not illegal, the IRS said, but using them and foreign institutions to hide income is.

The initiative covers taxes for four years: 1999 through 2002. However, individuals must report suspect offshore financial practices regardless of when they occurred, and are subject to further review and assessments in all cases if the IRS determines there has been "substantial tax avoidance."

Promoters of the schemes are not eligible for protection.

"We are striking the proper balance with this initiative, " said acting IRS Commissioner Bob Wenzel in a news release. "Those who misused offshore credit and other payment cards will be able to pay their fair share. Just as importantly, it will help the IRS get the people promoting these deals."

The initiative grew out of efforts that began in 2000, when the IRS was authorized by U.S. District Courts to serve "John Doe" summonses to businesses, seeking "limited information" on people and businesses who hold cards issued by financial institutions in Antigua and Barbuda, the Bahamas, and the Cayman Islands.

The "John Doe" initiative has grown to include over 100 U.S. businesses, and cards issued by banks in over 30 countries. The IRS said the investigation has "entailed combing through data on millions of transactions" and allowed the IRS to identify "hundreds of cases for civil audits or potential criminal investigation."

Violators may have a lot to gain by coming clean. The IRS said a taxpayer who understated income to avoid $100,000 in taxes would probably pay only $149,319 under the initiative. By not stepping forward, the same taxpayer would pay at least $217,758, and still face possible civil penalties.

Correct. Business income is completely different to personal income. People always have it wrong when they assume only big companies can do the tax saving tricks. If you are a business you have many many options that are completely legal.

Moving untaxed funds from the US to an offshore legislation is not legal. That's the money the IRS is after. If you cannot prove that the drug lord deals with drugs you can still get him on his funds he moves offshore. If your offshore company earns mones it is not taxable by the US but by the country the company resides in. The money you take out of the company via salery or other means is the money you have to pay taxes from.

epassporte is a Curacao company. As far as tax laws go, it would be wise for everyone to consult with their own tax attorney or accountant, as opposed to speculating publicly about things, but that's just my personal opinion :)