Zen.com and CRS?
- Thread starter Forester
- Start date
- Status
Well, I admit I don't understand well what you wanted to say; yet (re-)read this https://www.offshorecorptalk.com/threads/zen-com-and-crs.45465/post-315907
If you are afraid about reporting you, then yes 😉
If you are afraid about reporting you, then yes 😉
Yes they also write me that they reported to LT tax autorties and then the LT tax autorities get to another law autorities
So bye bye 🙁
So bye bye 🙁
and where is the problem? Nowadays you need to be tax compliant. So is nearly no place anymore to hide your money...
Zen is the last EMI I would use, because much of their business is based in Poland. Polish prosecutors sooner or later destroy any innovative business run from within the country. It happens so frequently you would almost suspect it's some kind of conspiracy to prevent the Polish economy from growing in any way. Mark my words - if they are doing anything wrong or not they will get destroyed sooner or later. The latest victim is https://cinkciarz.pl/ - online currency exchange that I guess was taking too much business from western european banks...
Yes, what occured with Conotoxia and︀ Cinkciarz is really messed up. I am hopeful some of their lawsuits against the banks︁ in PL and the KNF as a whole will be successful, but this is 'in︂ the stars'.
ZEN is under pressure mainly in Lithuania too; the regulator is quite crazy︃ in current times and they underwent LB's audit there a short while ago too.
ZEN is under pressure mainly in Lithuania too; the regulator is quite crazy︃ in current times and they underwent LB's audit there a short while ago too.
They at least managed to relocate to Cyprus fairly quickly. This is all fairly normal for Poland.
Some tech company does well, some sheriff prosecutor wants to make a name for himself and issues arrest︀ warrant. In Poland it is enough for prosecutor to sign a document and you get︁ 6am raid in house. No judge needs to order it, no judge reviews it. He︂ is free to do whatever he wants, evidence or not. He has to go to︃ court to get 3 months temporary arrest but in most areas the judges have 90-100%︄ in favor of the prosecutors request for temporary arrest. After arrest, they like to make︅ giant media campaign of their great success in fighting organized crime. The arrest gets extended︆ potentially for years and then finally guy gets released, *quietly* found not guilty and after︇ 20 years of court battles get some bulls**t compensation after losing company, family and everything.︈ Prosecutor that was wrong gets nothing. Previous government even removed "fruit of the poisoned tree"︉ from criminal law so even illegal evidence or evidence obtained outside of correct procedures can︊ be used. This has happened dozens of times. At this point every fucking "loud" arrest︋ is suspicious to me.
I know some people have recommended Poland for IPBOX etc for︌ taxes but honestly - everyone should stay the f**k away from this country. The justice︍ system here makes you miss the mafia from the 90s. Running a successful business here︎ will in the long term earn you nothing other then PTSD.
Some tech company does well, some sheriff prosecutor wants to make a name for himself and issues arrest︀ warrant. In Poland it is enough for prosecutor to sign a document and you get︁ 6am raid in house. No judge needs to order it, no judge reviews it. He︂ is free to do whatever he wants, evidence or not. He has to go to︃ court to get 3 months temporary arrest but in most areas the judges have 90-100%︄ in favor of the prosecutors request for temporary arrest. After arrest, they like to make︅ giant media campaign of their great success in fighting organized crime. The arrest gets extended︆ potentially for years and then finally guy gets released, *quietly* found not guilty and after︇ 20 years of court battles get some bulls**t compensation after losing company, family and everything.︈ Prosecutor that was wrong gets nothing. Previous government even removed "fruit of the poisoned tree"︉ from criminal law so even illegal evidence or evidence obtained outside of correct procedures can︊ be used. This has happened dozens of times. At this point every fucking "loud" arrest︋ is suspicious to me.
I know some people have recommended Poland for IPBOX etc for︌ taxes but honestly - everyone should stay the f**k away from this country. The justice︍ system here makes you miss the mafia from the 90s. Running a successful business here︎ will in the long term earn you nothing other then PTSD.
So you assumed that Zen did not report to the tax authorities about your banking relations, hopefully that’s not true! Everyone in Europe does that, that’s the beauty of this whole tax fest they’ve got going on.
EuroPacBank was also︆ based in Poland? 😳rof/%
Joking aside, really stay away from Poland.
I have already had a︇ bad experience myself.
If they block your money, you can deem it as a donation︈ to the government.
Joking aside, really stay away from Poland.
I have already had a︇ bad experience myself.
If they block your money, you can deem it as a donation︈ to the government.
Yes, this country is absolutely terrible to do business︂ in. If not tax authority, then prosecutor, if not prosecutor then government regulations. Everyone is︃ throwing s**t under your feet so you fail... not only do business people have s**t︄ like this on their heads, I can also forget the sun exists until around April.︅ I've been looking at houses in Cyprus lately.
OK friends, all this is definitely︆ an useful information for someone not familiar with the Polish business environment – but do︇ not hijack the thread so much, please. If you like to continue, feel encouraged to︈ open a new thread in General Business Discussions; I will move these posts there afterwards︉ 🙂 (and perhaps also add my 2 cents 😉 )
It wasn’t local bank accounts, but accounts with services like Revolut and Mister Tango, just to name a few. And so, you believe, along with others, that the tax authorities out of 6 million residents found my name and then wrote specifically to those two to inquire if I had accounts there and, if so, to send all the details?
That’s far-fetched, and I don’t believe it. EMIs and neobanks now report everything to tax authorities and to the respective countries where the account holders reside.︀ If any of you think otherwise, good luck when you end up in the same︁ position I was in. Once you’re caught in this situation, that’s when the real trouble︂ begins.
Don’t think they act politely, the tax authorities now use the same dirty tricks︃ as criminals; they lie, they conceal, and they try to trap you into confessions so︄ they can charge you with even greater offenses. That’s how it is in Denmark, at︅ least.
That’s far-fetched, and I don’t believe it. EMIs and neobanks now report everything to tax authorities and to the respective countries where the account holders reside.︀ If any of you think otherwise, good luck when you end up in the same︁ position I was in. Once you’re caught in this situation, that’s when the real trouble︂ begins.
Don’t think they act politely, the tax authorities now use the same dirty tricks︃ as criminals; they lie, they conceal, and they try to trap you into confessions so︄ they can charge you with even greater offenses. That’s how it is in Denmark, at︅ least.
Exchange of information on request (EOIR) happens when investigations start but before that accounts are reported when they qualify as reportable for CRS purposes.
EOIR is more generic, tax office asks for all the information they have about the taxpayer.
EOIR is more generic, tax office asks for all the information they have about the taxpayer.
- Status