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Well, I think you've just answered your own question about the past 8 months. You have certainly articulated one world view. However, I believe someone in this thread argued that US also doesn't have an unlimited space to raise the rates. Then again, I really hope we don't have to experience...

tell me what happened in the last 8 months As others have mentioned, the spike in the inflation has caused central banks to increase interest rates. The Federal Reserve (US central bank) has acted most aggressively raising rates from 0 on January 1, 2022 to 4% today. The EU central bank on the...

It is illegal to not file taxes in the US when you have tax liabilities. Given the amounts we are talking about here, probably nothing will happen, but you will be wilfully engaged in tax evasion, punishable by up to 5 years in prison: Tax Evasion Penalties and Other Consequences - FindLaw My...

The way to 'make the trail go cold': Move to a different country, establish tax residency there, sever your ties to Canada, report to CRA that you have left, pay the departure tax (Leaving Canada (emigrants) - Canada.ca) and enjoy your new home. Personally, I would suggest you choose a country...

Just to add to @Sols comment, here is a pretty extensive article about keeping a non-UK tax status for companies: Maintaining non-UK tax residence, but indeed, independent advise is essential for such things. Drawing revenue as salaries is a pretty common way to reduce CIT liability, but keep...

Simply speaking, if you as a director do not carry out any work in the UK (not a single day a year you are physically present in the UK) you are only subject to the income tax in Paraguay. If however, you fly to over to the UK to attend board meetings, or to carry out any other director duties...

I tend to agree with you. Here is another link: The perils and pitfalls of non-UK resident directors | Tax Adviser I think the key paragraph is here: "If a non-resident director is working wholly outside the UK, has not been resident in the UK before, and does not intend to perform any duties...

So, I did a bit more research and I stand corrected. Company directors fall under a different set of rules as HMRC assumes that your duties directly relate to the UK, which I suppose makes sense: Non-Resident Directors of UK companies ”“ a review of reporting... You can safely ignore some of the...

I don't know what your accountant files in the UK, so I have no idea what HMRC might ask in your circumstances. I can only speak in general terms. In general, your situation is pretty straightforward. If I understand correctly, you are a non-resident in the UK for tax purposes. As such, you are...

I know next to nothing about Armenia and it's tax system. My trusty source in these matters PwC tells me that one can file a tax return in Armenia: Armenia - Individual - Tax administration If I had to guess how things work in practice is that no one ever does it and if you tried to they would...

Your accountant is most likely not familiar with international taxation and is treating you like a UK director because that is what he has been doing his whole life. Unfortunately, unless you find an accountant who is also a tax adviser (they are usually separate people, and to be found at...

A tax heaven will just become a low/no tax jurisdiction in which one will have to live to take advantage of it. Monaco isn't going anywhere. The idea that you could simply take briefcases full of money to a Swiss bank and deposit it no questions asked is silly to begin with and only benefitted...

Don't freak out and just familiarise yourself with the applicable taxes (most likely capital gains) and pay them. The only other point I will make is to add to @Vor's excellent post that US, like much of the civilized world runs a tax system based on self-assessment and voluntary reporting. As a...

Maybe I am missing something, but why would one spend effort on these less established jurisdictions when rules can be changed so quickly? Oh, look now its 500k not 1m. And now its at least one employee, etc.? Get established in a stable jurisdiction like the UK, Ireland, or the Netherlands and...

I assume that is until your bank account does fall under CRS and this happens: I did it all wrong...what can I do now? :(

@Martin Everson provided some good advice. Anything to do with UK Home Office is difficult unless you follow their processes to the letter. You may want to speak to an immigration attorney in the UK, as they may be able to assist you in your application and if worst comes to worst, they could...

Finally someone asking a sensible question, rather than, how do I pay 0%, which everyone else seems to want to know. If you remain in Hungary, you and your company, regardless of where you register it, will be Hungarian tax residents. Therefore, it does not matter where your company is...

The concept of tax domicility originated in the British empire and refers to the 'homeland' of the individual. There are two generally acceptable ways of having a homeland according to common law: 1) by birth (or origin), and by 2) choice. The easiest way to think about it is when someone asks...

There seems to be an recent uptick in people asking for ways to evade paying taxes, which is illegal. I doubt there will be too many users on here who will be able to advice you on that. If you are asking whether you can set up a company in a low-tax jurisdiction and just continue paying taxes...

Hello and welcome to the forums! To your questions: Banking is an extremely tightly regulated industry. Banks today have extensive KYC (know your client) and compliance requirements imposed by regulators all over the world. One of the basic requirements is to know where your client lives, for...