Tax for defenses, what is that?

[clemens]

I've read somewhere that 10% should be paid for defense. Could you clarify on this ?

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[JohnLocke]

Defence tax at 10% is charged on the following cases:





(a) If the company is Cyprus tax resident ”“ there is a 10% defence tax ( withholding tax) on interest receivable


(b) Dividends receivable from abroad are in general not subject to defence tax, but there is one exemption


© There is no defence tax on trading profits.

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[clemens]

wow, that was fast Admin, thank you 🙂 I think I understand it now.

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[Moh1]

Admin said:
Defence tax at 10% is charged on the following cases:



(a) If the company is Cyprus tax resident ”“ there is a 10% defence tax ( withholding tax) on interest receivable


(b) Dividends receivable from abroad are in general not subject to defence tax, but there is one exemption


© There is no defence tax on trading profits.
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Thanks, I wasn't aware of this defence tax but think it is the same as the regular TAX you have to pay if you incorporate your Cyprus company as a national company.

 

[webdriller]

If you incorporate as an IBC you can avoid the TAX which means you are subject to 0% tax, this requires only that you aren't doing any business within Cyprus and you have foreigner as shareholders and directors.

 

[clemens]

This means, no tax for IBC's in Cyprus right?

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[SysOp]

@clemens


Yes thats true, you won't pay any tax if your Cyprus company is registered as an IBC and if your business is outside of Cyprus!

 

[jb100]

Very happy to know that,there is no defense tax on trading profits in Cyprus.For a trading/investment company,no tax is payable in Cyprus as a result of which trading margin will be higher.So more and more new trading companies are going to be established in Cyprus.But we should realize that defense expenditure is quite essential to maintain the dignity and sovereignty of any country .So one should be ready to pay for the best interest of the nation.

 

[deadpool]

I kind of see why Cyprus is the go-to favorite offshore option.

 

[johnskywalker]

I think to understand it much better, here is a link that contains a lot of valuable information which could help all of your concern about TAX. Your IRS Tax Relief Experts | Tax Defense Network

 

[deadpool]

clemens said:
This means, no tax for IBC's in Cyprus right?
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yes, that how it would work when your company isn't located in Cyprus.

 

[clemens]

LoL you Guys opened an almost 7 years old thread. I think I figured out how all this Works with my empire of offshore corps all is fine 😉

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[allan]

Something very old and is not charged any longer!

 

[techtrader]

You still need an accountant with Cyprus non-resident company. Useless.

 

[JohnLocke]

Useless maybe, depends on who need it 😉

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[negon]

It's not useless to have a Cyprus company if some is looking for incororating their business in Europe in order to do business here! Accounting is not difficult for a Cyprus company you can even let your agent do all the work and just sit back and do business.