Recent content by Xshore

We're talking about an account that the taxpayer reports himself on the tax return. If not reported then the risk is higher. Tax offices in those countries will not ask for all transactions for every foreign account of their residents. They don't even check most transactions for domestic...

Only end of year balance is reportrd. If that is 0 or a low amount and you have reportrd the account then it's not that likely that they will ask for more information.

However in the case of Malaysia offshore income that you remit to Malaysia is taxed (if you report it). Malaysia is no longer territorial tax since 2021, but only taxed offshore income that is remitted to or received in Malaysia.

What taxes are there in EE if the company didn't distribute any dividends? Is it sure that the tax office would know/enquire about if the SG company had a PE in EE previously?

If you need to make eur and gbp transfers then UK is better than SG. Not sure about SG wire fees, but quite cheap from UK in usd also. Not eu UK resident.

However the UK does have an exemption for most small companies. Not sure about what rewuiments Croatia has.

Transfer pricing generally means that you should charge the same rates as you would to other non connected companies, or that other companies would have charged you. You might need to document how you determined the prices, the requirement for this documentation varies, as is quite substantial...

I needed a gbp account, and UK also has free sepa eur transfers. Lower fees than SG.

See my post above. UK

They didn't ask me for any documents (apart from adrres proof and id) for the personal account. I'm not UK resident or citizen.

You could make financial statements for the llc. Can be quite simple, the income and some expenses if any, showing the profit. I've personally never been asked for any documentation proving wealth when opening bank accounts. Recently opened a UK account with HSBC, also no proof of wealth...

In the countries that has a corporate exit tax (or similar regime), I assume this is still only relevant for some types of companies? If for example you have a simple ecommerce drop shipping company that doesn't own any physical assets, what would be the capital gains that the company is taxed...

How do you apply for tax exempt status in Gibraltar?

I don't think this is correct, they write having your "main base or centre of activities or economic interests", I read it as main base (...) of economic interest. So if you live in another country and have that other country as your main base of economic interest then you can still have a...

Shouldn't this be possible in Singapore? They have some exit tax on certain pension type accounts, but not on the company and company shares as far as I know. The company can move out of SG and cease to be a SG tax resident if managed from another country. There must be many other low tax...