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South Korea is planning to amend current tax legislation in order to boost blockchain startups
**The government of South Korea announced its plans to amend current tax rules in the part that concerns innovative companies – including, but not limited to, blockchain and crypto startups.** During a meeting of ministers from government agencies, a decision was made to expand tax benefits for companies that focus their research and development (R&D) on modern technologies. This move was ma...
Path: BlogCrutial amendments to the Polish tax legislation in 2019
The CIT (Corporate Income Tax) in Poland is a tax collected from legal entities and the PIT (Personal Income Tax) is collected from physical persons. The amount of CIT is based on the net income companies obtain exercising their business activity, and the PIT must be paid by every individual who obtains income, e.g. receives remuneration (under employment contracts or civil law agreements) often ...
Path: BlogWhy do they always choose Cyprus?
...be analyzed deeper. Let us look at the different reasons to choose Cyprus as an offshore country. Basically, the biggest advantage of Cyprus is exactly its tax policy. It has become most popular after 2004th, when it joined the EU. After changing tax legislation, Cyprus became a country which is located the nearest from the Europe and, at the same time, has the lowest tax rates, especially for ...
Path: BlogHow to Offshore: Useful Tips and Tricks from Leaked Apple Inc. Papers
...s are measured in billions dollars are obliged to keep their fingers on the pulse in the offshore field. Before the law amendments, Apple used Ireland as a tax shelter. The changes were due to the European Union’s requirements to Ireland to update tax legislation. The EU considered that drawing corporations to your country is an improper action for the Union member. Apple, as the company with...
Path: BlogThe New Labuan Tax Regime: Towards the Advancement
... reasonably good place for the international business. However, it still needs to improve action standards with the BEPS Action 5. It is the latest standard of the OECD that should be followed by members of the BEPS Inclusive Framework. Adapting tax legislation to the **new rules** is supposed to start at the earlier convenience since the regime is aligned with these standards and is recognize...
Path: BlogThe main benefits of Cyprus formation
**Cyprus is one of the top-rated countries in Europe for registering companies including registration for offshore purposes. A compound of reasons, such as the advantageous tax legislation, classic corporate law and the country’s consistent tax policies make Cyprus a very attractive jurisdiction.** Cyprus has a powerful and advanced legal regulatory system and, as a former British colony, it...
Path: BlogControversy on 30% Crypto Tax in India
...icized by many is that the crypto traders will be not allowed to offset their losses from the market. It means crypto traders cannot offset losses from crypto trading against their other business profits. As a result of those amendments to Indian tax legislation, many crypto exchange executives expect much lower trading volumes on their platform. Moreover, the 1 percent tax deductible at sourc...
Path: BlogEstablishing an Offshore Business: An Overview
...y unlawful or used for tax avoidance or money laundering. With the right structure, they offer a clear and legal means of lowering tax obligations. Offshorelicense ensures that your offshore business is properly designed to comply with international tax legislation while also meeting your business objectives and long-term ambitions. Global Business Development Expansion globally might be difficu...
Path: BlogSwitzerland Crypto License
...to the public Directors' details – Details of directors are publicly disclosed Taxation Corporate income tax is imposed at both federal, communal and cantonal levels. The Federal effective tax rate is 7.83%. Each canton has its own tax legislation and levies cantonal and communal income and capital taxes at different rates. The combined effective tax rate is between 11.5% and 24....
Path: LicensingUnited Arab Emirates Accounting Services
...as undergone a rapid development and is currently known as a modern trade hub.Description The residents of the United Arab Emirates had long enjoyed a tax-free and heavily subsidized existence. However, recently the country imposed a new tax legislation. Now the companies in the UAE and all its 7 emirates have to consider VAT payments in their daily operations. Moreover, the companies ...
Path: Accounting