Min accounting requirement

[Xshore]

Us llc, you don't need to send the accounts to anyone.

 

[Don]

Us llc, you don't need to send the accounts to anyone.

Not tax opaque, or 0% tax though

 

[JohnLocke]

No limit.
Its still mandatory to keep the accounts and do bookkeeping though.

Okay, just so I get it. If I make 500K Euro a year in turnover, I don't need to report the accounts? How likely is it that they (Tax Office) will do come and check the books?

 

[wellington]

Is there still left an incorporation country (for a tax opaque entity) at 0% taxation which does not force you to fill your accounts to some dodgy registered agents? It feels quite unsafe to open your books to registered agents who could easily resell all that senstitive info.

BVI, belize, seychelles, cayman, bahamas don't fit this anymore.

There is no real need for a bank account in this setup.

Panama

 

[TRGali]

Tax opaque, yes
No tax until profit distribution (deemed distributions are generally taxed at 20%, but foreign profits are exempt from tax if taxed abroad or from EU/Switzerland)

The hiccup is that I like to distribute , and I like to do it tax and hassle free.

Panama

Thanks Wellington, will look into it.

 

[aage]

The hiccup is that I like to distribute , and I like to do it tax and hassle free.

who doesn't

 

[Xshore]

Not tax opaque, or 0% tax though

It's 0% tax in the US, and it can be considered tax opaque in other countries (depends on the country).

 

[TRGali]

It's 0% tax in the US, and it can be considered tax opaque in other countries (depends on the country).

I feel there has been/is a OECD crusade around the world forcing countries to consider tax transparent (no change in the status of the source of income) any entity considered tax transparent in its country of origin. Mauritius is the perfect example, where their laws allow (I did not read the laws, just read it was the case) to transform whichever type the income of a tax transparent entity into a dividend (while extracting it to the parent Mauritius company) but despite their laws allowing it, the tax authorities there have made a statement in 2022 that they won't accept anymore that trading income from a transparent entity be transformed into a dividend while extracting it to the parent Mauritius entity (dividends have a much reduced taxation rate in Mauritius)

In mother EU, anti hybrid rules takes care of that.

Do you have example of countries who consider a US LLC or maybe even a partnership as tax opaque?

 

[Xshore]

Do you have example of countries who consider a US LLC or maybe even a partnership as tax opaque?

United Kingdom is one. Several others