Recently, the demand for company incorporation in the United Arab Emirates (UAE) has grown significantly. This is primarily due to geopolitical factors, but also to the large number of advantages that the UAE offers for businessmen who want to conduct business through this jurisdiction. To date, the general advantages of the UAE include, first of all, the absence of corporate income tax and personal income tax.
Earlier, we have already talked about the regulation of activities related to cryptocurrencies in Cyprus (see the article), as well as the specifics of accounting for cryptocurrencies (see the article). It is time to talk about the taxation of transactions related to cryptocurrencies.
In addition to the administrative aspects of having Singapore companies which we discussed in the previous article, it is also necessary to pay attention to their tax obligations in Singapore. Singapore has Goods and Service Tax (GST). In other countries analogue of GST is VAT (see VAT in Europe).
When choosing a jurisdiction to enter the Latin American market, businessmen often focus on Mexico. This is not only because of the large domestic market of Mexico (population 140 million), but for many other factors, such as relatively developed infrastructure, geographical location, etc. When choosing the legal form for a company in Mexico, most people choose the Sociedad de Responsabilidad Limitada de Capital Variable — which is very close in essence to companies in the form of LLC and is considered for tax purposes as non-transparent corporation.
Previously we have already discussed the importance of tax residency status for both individuals and legal entities in our articles on tax residency in Cyprus for 60 days (see article), on special tax regimes in Europe (see article) and in many others. This is not surprising, because the matter of determining the tax residency for a company and individuals is fundamental in tax planning. Today we will talk about the document confirming the fact of tax residence for individuals or legal entities in a particular country, namely, Tax Residence Certificate.
Special tax regimes for individuals have existed in Europe for a long time. Some countries established them on the basis of tax residency without domicile, while others introduce certain preferential provisions in existing tax legislation. Nowadays, Italy, Spain, Portugal, Malta, Switzerland, the United Kingdom and Cyprus can boast of such an option for attracting new tax residents and income to their budgets.
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