I have the following situation I would like to discuss with all of you.
Just the other day I spoke with a friend of mine who is handling an online small business. He is doing Internet projects for companies selling different services he can do itself.
So he asked me if I still had this offshore company I spoke about for some time ago, and I answered positively. So he wondered how I paid tax and what the tax rate is that I paid both for the business but also for personal income!! I answered him that the corporate tax is 0% because I'm not doing business in the same country- is this true that's why offshore corps don't pay tax?
The Next thing is that I use a debit card that I got from the bank, this only uses when I'm out of town not in my close area.
Finally, he was asking me if I believe this to be a stable solution that I can trust and develop on for the next 4 -5 years which I answered positively again. I told him that I'm not that afraid of to be caught in any tax evasion and that if it comes to any complication, I would simply shut down everything and hide, maybe travel to another country or so.
What would you tell you friend or close relations if it was you they asked for advice? I'm not certain of how much I like to tell them honestly I'm afraid that something like this is only meant to be a personal thing and not something you talk about?
Just the other day I spoke with a friend of mine who is handling an online small business. He is doing Internet projects for companies selling different services he can do itself.
So he asked me if I still had this offshore company I spoke about for some time ago, and I answered positively. So he wondered how I paid tax and what the tax rate is that I paid both for the business but also for personal income!! I answered him that the corporate tax is 0% because I'm not doing business in the same country- is this true that's why offshore corps don't pay tax?
The Next thing is that I use a debit card that I got from the bank, this only uses when I'm out of town not in my close area.
Finally, he was asking me if I believe this to be a stable solution that I can trust and develop on for the next 4 -5 years which I answered positively again. I told him that I'm not that afraid of to be caught in any tax evasion and that if it comes to any complication, I would simply shut down everything and hide, maybe travel to another country or so.
What would you tell you friend or close relations if it was you they asked for advice? I'm not certain of how much I like to tell them honestly I'm afraid that something like this is only meant to be a personal thing and not something you talk about?
