IT LLC to offshore

[alain]

Hi all!

I have an italian LLC and need an advice how to get the money out of 70% tax rate.

the costs should be low, the anonymity high and out of CRS (think thats important). i also need a bank account from a solid known bank with credit/debit card if possible but its not a must.

also there should be no taxes, oviosuly. its pretty simple to bring out the money with "roalties" invoices.

is there any country? actually i think of isle of man an and malta. but maybe you have better ideas....

thanks for all the good stiff i read here about!!

 

[apres777]

It's unfortunately not as easy as you might imagine.

Mainly due to three reason, simply‌ summarised.

1) Cost Deduction in your Italian LLC won't work by simply invoicing "consulting" from‍ an Offshore Entity. Your "cost" mostly wouldn't be deductible when doing your tax calculations at⁠ the end of the year.
2) To benefit from 0% Tax you mostly need substance⁤ in the desired country of choice. (Local Director, Team whatever). Just using an empty company⁣ with a bank account won't work and an invoicing tool is sufficient these days unfortunately.⁢
3) Lastly building a proper "setup" which might work and suits yours needs will cost︀ you time and money

Easiest way to "avoid" paying horrific taxes in EU is by︁ living in a country with low taxes, trust me buddy we all have been there.︂

 

[alain]

apres777 said:
It's unfortunately not as easy as you might imagine.

Mainly due to three reason, simply summarised.

1) Cost Deduction in your Italian LLC won't work by simply invoicing "consulting" from an Offshore Entity. Your "cost" mostly wouldn't be deductible when doing your tax calculations at the end of the year.
2) To benefit from 0% Tax you mostly need substance in the desired country of choice. (Local Director, Team whatever). Just using an empty company with a bank account won't work and an invoicing tool is sufficient these days unfortunately.
3) Lastly building a proper "setup" which might work and suits yours needs will cost you time and money

Easiest way to "avoid" paying horrific taxes in EU is by living in a country with low taxes, trust me buddy we all have been there.
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Thank you for your advises.

i talked to my tax consultant and he said there would be no problem to invoice out the money through royalties. due the IT LLC is making videos and stuff. he said, just look for a country outside CRS and mentioned puerto rico.

i personaly talked to consultant on the isle of man, and there the costs are at 10k yearly with 0% tax. but i am unsure about CRS there. they told me to go to malta.

i can not leave the country (for tax purposes obviously) and i can not simply close the italian LLC because i need it to be in italy.

 

[noob3000]

Thank you for your advises.

i talked to my tax︃ consultant and he said there would be no problem to invoice out the money through︄ royalties. due the IT LLC is making videos and stuff. he said, just look for︅ a country outside CRS and mentioned puerto rico.

i personaly talked to consultant on the︆ isle of man, and there the costs are at 10k yearly with 0% tax. but︇ i am unsure about CRS there. they told me to go to malta.

i can︈ not leave the country (for tax purposes obviously) and i can not simply close the︉ italian LLC because i need it to be in italy.

 

[JohnnyDoe]

Change your tax consultant

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[alain]

JohnnyDoe said:
Change your tax consultant
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ok what would you do then?

 

[noob3000]

ok what would you do then?‌

 

[JohnnyDoe]

noob3000 said:
ok what would you do then?
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I would not underestimate the intelligence of Agenzia delle Entrate and GdF. What you are trying to do will not work.

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[alain]

JohnnyDoe said:
I would not underestimate the intelligence of Agenzia delle Entrate and GdF. What you are trying to do will not work.
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So you know about them... Any tips what would work?

 

[noob3000]

So you know about‍ them... Any tips what would work?

 

[Cavaliere]

He just told you.‌ Invoicing a Puerto Rican company is going to come back to haunt you in 5/10‍ years.

 

[alain]

Cavaliere said:
He just told you. Invoicing a Puerto Rican company is going to come back to haunt you in 5/10 years.
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Why so long?

And what about IOM or any other jurisdiction? what would be the best way for this scheme?

 

[noob3000]

Why so long?

And what‍ about IOM or any other jurisdiction? what would be the best way for this scheme?⁠

 

[Cavaliere]

The scheme won't work in‍ the long run. You better move outside of Italy.

 

[alain]

Cavaliere said:
The scheme won't work in the long run. You better move outside of Italy.
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i can't do that. i do not care about complexity to make it work but the IT LLC is a must in this case...

 

[noob3000]

i can't do that. i do not care about complexity to‍ make it work but the IT LLC is a must in this case...

 

[Cavaliere]

Then pay the tax, you could even move to San Marino or Malta to reduce your‍ taxes. Or the place in Switzerland that's part of Italy. But if you're going to⁠ outright reduce your taxable income with fake receipts to offshore jurisdictions like Isle of Man⁤ you're just blatantly dodging taxes and that is a criminal offence that can land you⁣ into jail whether you like it or not.

 

[alain]

Cavaliere said:
Then pay the tax, you could even move to San Marino or Malta to reduce your taxes. Or the place in Switzerland that's part of Italy. But if you're going to outright reduce your taxable income with fake receipts to offshore jurisdictions like Isle of Man you're just blatantly dodging taxes and that is a criminal offence that can land you into jail whether you like it or not.
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ok! understood.

you mean Art. 2 74/2000 where they fine you with 1-6 years if you use "fake invoices" to lower your LLCs taxable income.

but what is tbis forum about? its just about crypto? i do not get it. there are selled "anonymous LLCs" and stuff. i coud use 20 of them to send invoices to my LLC and then move the money to IOM and i am good. so please, tell me whats wrong with my thinking.

 

[noob3000]

ok! understood.

you mean Art. 2 74/2000 where they fine you with 1-6 years if you⁣ use "fake invoices" to lower your LLCs taxable income.

but what is tbis forum about?⁢ its just about crypto? i do not get it. there are selled "anonymous LLCs" and︀ stuff. i coud use 20 of them to send invoices to my LLC and then︁ move the money to IOM and i am good. so please, tell me whats wrong︂ with my thinking.

 

[JohnnyDoe]

noob3000 said:
you mean Art. 2 74/2000 where they fine you with 1-6 years if you use "fake invoices" to lower your LLCs taxable income.
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Plus fraud, money laundering etc. Roughly 20 years.

noob3000 said:
but what is tbis forum about? its just about crypto?
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It's not about tax evasion and money laundering

noob3000 said:
i do not get it. there are selled "anonymous LLCs" and stuff. i coud use 20 of them to send invoices to my LLC and then move the money to IOM and i am good. so please, tell me whats wrong with my thinking.
Click to expand...

Everything

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