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Cant keep myself form saying - didn't I tell y'all : ) It is official DSBC is being sancioned by regulator for exceeding their PI license and pretending to be EMI (..or a bank) https://www.lb.lt/lt/naujienos/lietuvos-banko-finansu-rinkos-prieziuros-komiteto-sprendimai-3

It is official DSBC is being sancioned by regulator for exceeding their PI license and pretending to be EMI (..or a bank) https://www.lb.lt/lt/naujienos/lietuvos-banko-finansu-rinkos-prieziuros-komiteto-sprendimai-3

Regarding Corp. tax a UK Ltd. company becomes tax resident by default from the moment of incorporation and all the company's revenue from any sources worldwide is taxable to Corp.tax even if there is no PE & not a single director in the UK. In order to get exemption for some or all of the...

Yes, indeed interpretation differs somewhat, but the main principle is that "sourcing of income" originates where ultimate decision maker is located at that time. In case of automated trading (e.g. e-commerce or digital products) it is also important where serves & major infrastructure is...

Hi, business revenue generated through UK Ltd. by default is subject to UK Corp. tax regardless of your residency. You can always amend the corporate tax return and pay the tax due plus some intertest. If you want to save the taxes, then there could be some significant penalties if hmrc finds...

No, there is no legal way to avoid VAT. a

Your cost will depend on volumes you are going to deliver to each separate EU country.

Yes you could, if your company gets a fiscal representative relationship in the EU. Legally you could form a process where your company buys from your supplier and re-sell to you final customer, while logistics flow is that of your supplier delivering orders to your importer in the EU who in...

Hi, if you are going ship goods to EU countries via regular postal or courrier service (eg. DHL) you will state invoice value of your shipment and upon arrival in to the destination country courrier will inform recipient that in order to deliver the incoming shipment recipient has to pay import...

Yes, I agree there is no point in this discussion any further as you simply won't bother to dig deeper in uderstanding what you are really selling, and once the Bankera goes under and people who followed your advice by engaging them will loose money or get in to tax compliance troubles you will...

Enlighten me if I missed something and they had a single audit of their AML procedures by FNTT who is the ultimate regulator supervising compliance with the AML of LT?

Hi Gediminas, how you are able to reconcile the following contradictory statments of yours regarding Bankera KYC procedures & CRS reporting: 1)on one hand you say that Bankera does not require proof of tax residency of tehir clients however at the same time 2)in thread about EMI CRS reporting...

I did recently research on them and came to identical conclusions. And more - they are openy posing as a "bank" in marketing communication though in my opinion they are not licensed to operate client accounts to the extent as they try to market it. Also they got warning from regulatro LB.lt on...

I heard this sooo many times.. First you try to educate them about how EU vat works, if they dont wanna learn you decline their busines. No other options.

Quite the opposite. Amazon is great example. Few years ago there was vawe of requests from chinese Amazon traders looking for european fiscal VAT represenatives in UK due to Amazon was handling import & local EU fulfilment for many such CN traders. Tax authorities warned Amazon that they will...

You as a logitics service supplier are not directly responsible for their VAT maters, but you risk is that if they avoid VAT due in some EU countires you coud have problems as a facilitator who knowingly participated in VAT avoidance scheme. Consequences differ from country to country, but...

Yes all of this is true. I dealth with such intra EU supplies alot and this is the reposnisbilty of goods owner when he makes supplies.

I assume you know, that you will be reported to your home country under CRS?

Tell me one simple and specific thing to back your statment up. Does bankera during their KYC process require business accounts holders to provide proof of tax residency for the business? Because they should do this if they adhere to AML Law of LT.

Lithuania has a small start-up company tax relief and if you incorporate your first company in LT and dont own controlling ineterst in any other companies then first year 0% corporate tax rate for all profits if turnover is up to EUR 300k. Thereafter 5% corporate tax rate for all profits...