Will Cyprus ND make a non-Cyprus company tax liable in Cyprus?
- Thread starter flyingadventures662
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It would probably depend on how they see the nominee director. Is he really managing and controlling the company?
Tax authorities hit you with a bill, and then it's up to you to prove them otherwise.
It's not like they send you an inquiry and kindly wait for your answer for a few months and then decide based on the evidence.
You have an automated exchange of information and public registers. Based on publicly available information, it's easy to make conclusions.
It's not like they send you an inquiry and kindly wait for your answer for a few months and then decide based on the evidence.
You have an automated exchange of information and public registers. Based on publicly available information, it's easy to make conclusions.
Exactly. That's why we need the only correct answer. The fact that many of the regulations now are not enforced doesn't make you sleep safe.
There is never a one correct answer. It is a matter of interpetation and therefore a matter of understanding and securing risks correctly. Its who you are facing not what you are facing.
If I were a Cypriot resident, I would write a letter to the tax office and if their answer coincides with the lawyer's answer, that's a 100% true answer for me.
That is a decent approach. There is such a way forward, whereby you write to the tax office requesting for a tax rulling on a particular subject.
I would never do this and for me it's suicidal because, first, if things are subjective, they will always take their point of view and second, you will have exposed yourself forever so you wan't be able to do obscure things in the future.
Many things in practice just work, regardless of how scary sounds the written law. For example, the PE, many people on this forum are paranoid︀ about when talking even about home office/crypto trading - I am yet to find a︁ lawyer to tell me you will have issues if you don't declare it. Depends on︂ the country as well I guess, I wouldn't do that in Spain for example, but︃ just saying.
But but but sir, why are you so short-tempered?
There was even no︅ need to write the whole second part of your message.
I think my confusion came︆ from the bad (yes, I claim it to be bad) wording of PWC: non-Cyprus tax︇ resident company instead of non-resident company in Cyprus. It sounds like a company which︈ is tax-resident of Cyprus, but is not incorporated there. And not like a non-resident one.︉
Because exceptions like this exist, for example in the Philipines. There, a foreign company, even︊ if resident, pays tax only on local income. While Filipino company pays tax on a︋ worldwide income. I assumed it was something like this in Cyprus as well.
Thank you︌ for your post.
Many things in practice just work, regardless of how scary sounds the written law. For example, the PE, many people on this forum are paranoid︀ about when talking even about home office/crypto trading - I am yet to find a︁ lawyer to tell me you will have issues if you don't declare it. Depends on︂ the country as well I guess, I wouldn't do that in Spain for example, but︃ just saying.
But but but sir, why are you so short-tempered?
There was even no︅ need to write the whole second part of your message.
I think my confusion came︆ from the bad (yes, I claim it to be bad) wording of PWC: non-Cyprus tax︇ resident company instead of non-resident company in Cyprus. It sounds like a company which︈ is tax-resident of Cyprus, but is not incorporated there. And not like a non-resident one.︉
Because exceptions like this exist, for example in the Philipines. There, a foreign company, even︊ if resident, pays tax only on local income. While Filipino company pays tax on a︋ worldwide income. I assumed it was something like this in Cyprus as well.
Thank you︌ for your post.
Even though they sometimes look like the mafia, they are ordinary employees and they obey the laws. It doesn't make sense for them to send an inspector in a helicopter after you, otherwise they will scare everybody off the island. As for obscurity, just ask yourself, what if they find out?
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