Min accounting requirement
- Thread starter TRGali
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Okay, just so I get it. If I make 500K Euro a year in turnover, I don't need to report the accounts? How likely is it that they (Tax Office) will do come and check the books?
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
The hiccup is that I like to distribute 🙂, and I like to do it tax and hassle free.
Thanks Wellington, will look into it.
I feel there has been/is a OECD crusade around the world forcing countries to consider tax transparent (no change in the status of the source of income) any entity considered tax transparent in its country of origin. Mauritius is the perfect example, where their laws allow (I did not read the laws, just read it was the case) to transform whichever type the income of a tax transparent entity into a dividend (while extracting it to the parent Mauritius company) but despite their laws allowing it, the tax authorities there have made a statement in 2022 that they won't accept anymore that trading income from a transparent entity be transformed into a dividend while extracting it to the parent Mauritius entity (dividends have a much reduced taxation rate in Mauritius)
In mother EU, anti hybrid rules takes care of that.
Do you have example of countries who consider a US LLC or maybe even a partnership as tax opaque?
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