Domestic VS International Tax Planning
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You can visit our websites for more information about us: https://offshorecitizen.net & https://www.offshorecapitalist.com
Domestic VS International Tax Planning - What is the difference and what is better for you?
Domestic tax planning lets you lower your taxes within certain limits. It's like operating within a box. There are certain rules that have to follow, there might be some loopholes here and there, but generally, there is not much creativity and flexibility within the domestic tax planning.
International tax planning gives you way more possibilities but it's also quite a bit more challenging. If you're mixing two (or more) different jurisdictions it's extremely important to be very cautious and to make sure these rules match well. One legal form might exist in one country, but be completely unknown in another country. That's why it's important to understand how exactly these things match, and how your structure can be treated by another jurisdiction.
For example, many people will form a famous US LLC structure, but Canada doesn't have LLCs at all. Canada would treat this entity as a corporation, and this will affect the distributions and taxes. Australia will treat this same LLC as a partnership. This is why it's really important to understand these things before you set up an international structure.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1
#InternationalTaxPlanning #PayLessTax
Видео Domestic VS International Tax Planning канала Offshore Citizen
You can visit our websites for more information about us: https://offshorecitizen.net & https://www.offshorecapitalist.com
Domestic VS International Tax Planning - What is the difference and what is better for you?
Domestic tax planning lets you lower your taxes within certain limits. It's like operating within a box. There are certain rules that have to follow, there might be some loopholes here and there, but generally, there is not much creativity and flexibility within the domestic tax planning.
International tax planning gives you way more possibilities but it's also quite a bit more challenging. If you're mixing two (or more) different jurisdictions it's extremely important to be very cautious and to make sure these rules match well. One legal form might exist in one country, but be completely unknown in another country. That's why it's important to understand how exactly these things match, and how your structure can be treated by another jurisdiction.
For example, many people will form a famous US LLC structure, but Canada doesn't have LLCs at all. Canada would treat this entity as a corporation, and this will affect the distributions and taxes. Australia will treat this same LLC as a partnership. This is why it's really important to understand these things before you set up an international structure.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1
#InternationalTaxPlanning #PayLessTax
Видео Domestic VS International Tax Planning канала Offshore Citizen
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