Seeking opinions / Reduce 500 ke inheritance tax

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Thank you Daniels27 for your visions.
Moving to another country with no heritance tax can‌ be a goal. We have some discussions about it.
As well as property abroad, as‍ mentionned earlier here.
Switzerland isn't the good one for a relocation.
Local real estate companies⁠ SCI are fake dreams to lower inheritance taxe.
In some cases you can effectively reduce⁤ the taxation on capital gain toward the sold properties.
We have a commercial company, not⁣ a cvil company Sci.

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😛No tax to pay here when you win at Casino⁢ or Lotery.😛
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By law we must have professional accountant to edit and publish yearly︀ to the tax man.

I'm not bad in accounting and tax system, set up, optimisation.︁
revoquing my accountant, will automatically introduce a survey from the tax man !

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@ Providenceventur
All our estates are empty of furniture and sold as, expect the fixings in︂ kitchens and bathrooms, and few extras.
Our last property is already under sale contract with︃ complition and deed within 4 months.
I can't play that game : luxury refubirshement paid︄ by the company and fixed somewhere else. Neither add or loose value by buying Chinese︅ 16th century painting.
=> cry or laught ! 😛😵
A week ago I explained my account︆ :
••• we may need to buy a new 3.000 euros laptop cause the old︇ one start to run down.
Reply : yes you can, but when you dissolve the︈ company you must resale at real market price, no way to do 50% or 70%︉ discount on the resale.
••• we intend to pay 13.000 Euros commission to our partner︊ whos find us the buyer for the last property.
We have a binding contract and︋ personal invoice from our partner to pay the commission.
Reply : I will immediatly report︌ you (to = Gafi - Fatf). Unless you bring a proved commercial invoice from a︍ regular professional tax payer.

We did yet in advance, or before‌ term to avoid any further discussion with the tax man. Paid over 160ke end of‍ last year. In May will pay some extra heavy.
On the sale of the real⁠ estate assets, dividends and closing down/dissolving the company.
We have no choice, unless getting fraudulent.⁤
Company must Pay tax 1.000.000 euros.
cry&¤ cry&¤
cry&¤

Yes very true Daniels27.
Any wise solutions or set up to⁢ reduce extra 500.000 Euros on heritance tax.
• swap of money by purchasing property abroad︀ under the name of the son.
• relocation abroad with low or no heritance tax︁
• any other options.
• how difficult to move away from local bank to bank︂ abroad + 500 ke.
Local bank will be much reluctant.
How to convinence the bank︃ adviser not to do report to (= Gafi - Fatf) to transfer funds abroad. Clean︄ and legal.
 
Is relocating the company offshore or other jurisdiction a viable︃ solution?
Also what about stating to open a new branch in other jurisdiction so that︄ opening bank account looks normal.Going offshore is legal anyway.Looks more like your accountant is working︅ for the government instead of you.What is that a*****e getting paid for?He should have had︆ been fired years ago.Are you also telling me that company expenses are not tax deductible-︇ what kind of accounting is going on i fail to understand.Company can anytime decide to︈ have board meetings abroad,buy properties in foreign location for the director etc for his stay.And︉ decide to pay him per diem expenses in the foreign location which opens up the︊ possibility to open a bank account in a foreign location for the company.
 
The only legal way is to move abroad. You and your mother. You can⁣ move to any EEA country + Switzerland without any reason nor visa. Just take one⁢ without insurance tax.
 
It mainly does not reduce inheritance tax legally. But he can do this.

Absolutely legal. Just need to pay‍ inheritance tax in France.

If you want my advice. You can either try to move⁠ the assets to your name now. Otherwise you need to move. All other games are⁤ illegal. Do you really think that they won't ask you where you put that millions⁣ you had in your account last year?
 
Depending on how many millions it is, one could slowly move them into crypto as‌ a legal investment, then circulate them in a carousel, making them gradually disappear as some‍ kind of expense or loss.
 
Buying crypto with company funds is legal right?or i am not sure what kind⁢ of a shithole france is?If its legal then he can transfer it anywhere after buying︀ it legally.
You are saying that if he goes offshore he pays inheritance tax in︁ france?
What about putting everything in an offshore trust then?
 
Legal and then becomes companies funds. But you are⁠ missing the point. They don't need to move funds from company to private. They need⁤ to move from mother to son.

It is much easier in this case. They could⁣ even just take out paper from the ATM.

They just need to move about 500k⁢ EUR of the million. You probably can let disappear 50k per year. And then the︀ son keeps it illegally. Definitely possible.

IMO not worth the risk if you can just︁ move abroad and have those problems solved.
 
I think he‌ wrote in his just post that he only wants to move 400k to 600k. Apart‍ from that, if your are living on minimum wage of 15k EUR per year and⁠ then suddenly 1 million disappears, they will send you a letter asking where it went.⁤
 
Thank's to all for your contributions.
Some are strugling for soltutions.
.. Even a bit‌ of anger or some bad emotions /Tax/tax/tax !

I may understand some of the contributors‍ are not so knowledable with Western Europe ties and tax system.

We can't relocate the⁠ company.
Anyhow profits on the sale of real estates hold by the company must be⁤ taxed here.
Seting up another and new company in lower tax juridiction holding shares of⁣ the local one will be considered by tax man as Tax Abuse (new laws in⁢ western europe). Than taxman will claim an extra 80% penalities ovenr the unpaid or paid︀ regular taxes.
Bank of the company will not release the funds to buy crypto. it︁ will be automaticaly classified Grey to Black /accountant/bank/taxman.

I have some knowledge and experience in︂ Tax systems, regulations & accounting.
No solutions for the company so far if you want︃ to keep snow white.
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A Contributor wrote earlier :
Mother buy property︄ abroad and pay part or total price.
Property deed will be under the name of︅ son.
Ok / Good
In which countries you can do so ? 😛 (in mine it︆ is impossible / Notary will report to tax man)

My home country is asking me︇ to declare the details and values of my properties abroard to tax me (wealth tax).︈
How do I do a set up with this property abroad to avoid my home︉ country to never know about it ?

I want to avoid : local anonymous owners︊ strategies / set up of company througt a local provider who brings local "anonymous" share︋ holders or directors.

Tahnk's all.
 
To be honest, I think no matter what you do and where you put the‌ money and in what form. Anything that you transfer from your mother to you upon‍ her death is subject to French inheritance tax. Hence, we should not waste time on⁠ that or is there a way.

What can be done would be:
  • pay you a⁤ higher salary from your mother's company to shift funds
  • have you and your mother moving⁣ abroad (in which case all wealth not located in France would no longer be taxed,⁢ this does not include French companies and French real estate which are taxable in France)︀
 
Any chance they could migrate the company to a different︀ offshore or even favourable law onshore location instead of setting up fresh.Or sell it to︁ an offshore company owned by the son at a lower cost( maybe after the son︂ changes citizenship)?Meanwhile they can pluck out cash from the atms and keep reducing the capital︃
 
Why? It is pointless. First, they already paid most of the tax on their company⁣ profits. Second, having the company offshore only leads to exit tax issues and does not⁢ prevent any inheritance tax in France.
 
Maybe they need to⁠ take a balanced derivatives trade shorting btc from the french company account and going long⁤ the same btc from the offshore company.Since BTC is in the uptrend currently.Make the loss⁣ get the money transferred to the offshore company.What can they tax on a loss making⁢ company.After a substantial loss liquidate the company no need to inherit that company.They can only︀ tax something if there is any value,what can be taxed if no value remains.
 
It is entirely useless. Neither would‍ an offshore company solve the problem of the inheritance tax. His mother could just withdraw⁠ all in paper cash and give it to the son, telling the government she bought⁤ drugs. It would do the same job while being much more credible.
 
Ha ha ha nai¤%.
A loss making⁤ company is liquidated to its bone including its fixed assets.Whichever be the country .After its⁣ liquidated there is no question of inheriting it.Where did you take your accounting classes -⁢ Mars?
Yes we can withdraw paper cash but upto a limit i suppose for sundry︀ expenses.It was already mentioned by me above and i do not disagree on that point︁ with you.
 
Haha, actually you were completely right.⁠ The only problem is that there are laws in place which allow the taxman to⁤ separate two completely unrelated businesses even if conducted by the same company. If you operate⁣ a real estate business and suddenly start a crypto venture, they will most likely disallow⁢ the aggregation of losses of one venture and the gains of a solid business.

That's where you plan from Pluto will end and your sundried tomatoes will become plutowet😉
 
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