Tax authorities usually not going for old reports, even notorious IRS don't go past 6 years and usually it's within 3 years.
Emi have CRS?
- Thread starter Obelix
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What informations r provided, if its personal and not business acc? Do they report capital gain in personal︀ accs? If no, then just withdrawing, transfering before 31st dec will be prolly very easy︁ to be true.
Are there any emi that still doenst have crs or have rather︂ only fatca? I assume, those that have fatca, will not have crs, therefore that could︃ be the way.
Was looking for non-crs countries with emis but no result.
Are there any emi that still doenst have crs or have rather︂ only fatca? I assume, those that have fatca, will not have crs, therefore that could︃ be the way.
Was looking for non-crs countries with emis but no result.
31st is just an arbitrary number - in Thailand they do the interest and tax on the bank account in the first two weeks︀ of the month - so that’s the point they do the CRS information up to.︁
Which brings me to another point to point out yet again - move to a︂ territorial tax country.
Which brings me to another point to point out yet again - move to a︂ territorial tax country.
Which one is the cheapiest territorial tax country or the easiest? Still this will require at least half a year to lose the residency I currently have, not sure if I can just say I dont want this residency, gonna get new one and for the time be without residency.
Easy in the fact that a visit is only required once every 3 years. It is the easiest tax residency to hold.
Cheap, well, that depends on you. If you have a law firm do it for you, you'll probably pay around 2500 USD to get it done, plus of course the costs to make the visits and accommodation in Asuncion. The fee itself isn't that high - around 400-700 USD, but relocation firms need to make a living somehow. Then, it's about 3 months to get the document issued︀ (or you can give the governmental office an extra 300 USD to get it done︁ within 2 weeks).
You also need to send in your blank VAT filings (otherwise you︂ won't get a tax residency certificate), or pay an accountant to do it, which will︃ be like 500 USD yearly. They are empty (in most cases), because Paraguay has a︄ territorial tax system, and you don't pay anything on what is earned in Paraguay. For︅ the revenue in Paraguay, it's 10% income (for person and for corporate). The VAT is︆ also 10% on Paraguayan income.
Keep in mind that Paraguay doesn't have many double taxation︇ agreements, so if it is of any use to you depends where you live. Paraguay︈ also doesn't have any CFC regulations. A company not in Paraguay and not selling to︉ Paraguay with you as the tax resident will not be liable for the 10% tax︊ rate.
Cheap, well, that depends on you. If you have a law firm do it for you, you'll probably pay around 2500 USD to get it done, plus of course the costs to make the visits and accommodation in Asuncion. The fee itself isn't that high - around 400-700 USD, but relocation firms need to make a living somehow. Then, it's about 3 months to get the document issued︀ (or you can give the governmental office an extra 300 USD to get it done︁ within 2 weeks).
You also need to send in your blank VAT filings (otherwise you︂ won't get a tax residency certificate), or pay an accountant to do it, which will︃ be like 500 USD yearly. They are empty (in most cases), because Paraguay has a︄ territorial tax system, and you don't pay anything on what is earned in Paraguay. For︅ the revenue in Paraguay, it's 10% income (for person and for corporate). The VAT is︆ also 10% on Paraguayan income.
Keep in mind that Paraguay doesn't have many double taxation︇ agreements, so if it is of any use to you depends where you live. Paraguay︈ also doesn't have any CFC regulations. A company not in Paraguay and not selling to︉ Paraguay with you as the tax resident will not be liable for the 10% tax︊ rate.
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