Seychelles Tax? Or Lack Of Any Taxes!

When you incorporate an offshore company in Seychelles, there is no such thing as a Seychelles Tax! Information Seychelles: Located in the stunning waters of the Indian Ocean, northeast of Madagascar and 1,600 from Kenya, the Republic of Seychelles is a paradise in many ways. There are 115 small islands that make up Seychelles, and these islands are unknown to many people today. Seychelles offers a wealth of prospects in terms of investment opportunities, recreational activities and overall quality... Read more »

Who Should Use The New Self Employment Tax Returns In The UK

Anyone in business in the UK who is not incorporated into a limited company must complete a tax return of their financial affairs each year. For a number of years the specific tax return to be completed by everyone self employed was the self assessment tax return. The new self employed tax returns were introduced quite late in the reporting process being published at around the end of the financial year, to which they relate, 2006 07. This should not be a problem to those familiar with the previous... Read more »

Tax Issues In Philadelphia And Other Places

It is no wonder that so many hard working Americans have a difficult time making ends meet. It is hard enough to have a small business these days and it is not any easier for those who work for others. We have a large amount of any money we make going to all kinds of taxes every time we turn around. It is not that we Americans mind paying for the things we need to run our country, but sometimes it seems like the bureaucracy of the our governments are running us .We actually have very little say in... Read more »

How To Leave More To The Kids

In heritance tax has undergone some changes of late that make it a much simpler process to leave your money and property to your children without them paying the penalty of inheritance tax quite so soon. Will writing is sometimes a complicated business and people do not always realise the implications of what they leave to the people they leave it to. Anything over 300,000 pounds for an individual would incur inheritance tax and combining a couple’s nil rate allowance was a little complex. The... Read more »

An Offer in Compromise - It Could Be Your Answer

We have all heard the claims of being able to settle tax debts for “pennies on the dollar”. It sounds great, but does it really work? It may seem too good to be true, and the truth is that it is not for everyone. But for those who qualify, it can be a real lifesaver. An Offer in Compromise, or OIC, is an arrangement with the IRS that allows an individual or business to negotiate a settlement amount that is less than the total amount owed. It is important to realize that the IRS... Read more »

The Economics of Vice Tax

A vice tax is an indirect form of taxation applicable to sold called vice goods like alcohol, tobacco and to a certain extent gasoline. The tax is included in the purchase price for these goods and paid by the retailer, rather than the customer directly, hence an indirect taxation. It may come as a surprise to realize that goods are very heavily taxed - sometimes in excess of 50% of the actual price. It is a bizarre phenomenon that products can have such an artificially high value and yet survive... Read more »

China Tax Update - New Corporate Tax Laws Take Effect

A new Corporate Income Tax Law (”CIT Law”) was passed by China’s legislature, the National People’s Congress. The new law was launched on March 16, 2007 and it takes out many of the tax incentives that had specifically been provided to foreign invested manufacturing companies. However, it decreased the current corporate income tax rate from 33% to 25%. The new law which is set to take effect on January 1, 2008, makes a precautionary attitude towards foreign investment while... Read more »

Room For Further Tax Cutting In Hong Kong

Hong Kong’s top financial officials have put forward some amendments aimed at bringing back wealth to people, including tax cuts and other compromises. The package of measures and compromises are offered to help the disadvantaged, improve Hong Kong’s economical stability and guarantee lasting development. The government has predicted a surplus in the Consolidated Account of 115.6 billion Hong Kong dollars ($14.8 billion) and a surplus of 63.7 billion HKD (about $8.19 billion) in the Operating... Read more »

Property Tax Fat Trimming: Shaving Cost in New Jersey

With expenditures rising in almost every category when it comes to consumerism in the U.S., it’s no wonder that property tax is in line with that trend too. Although it’s not the most expensive thing a homeowner has to pay with a house, it can add the extra sting to mortgage payments or a seemingly bigger sting if you pay the total amount at the end of the year. This article will go over some of the options for senior home owners, by the state, that offers savings in property tax that... Read more »

Offshore Tax Havens: Panama vs Switzerland

When it comes to top tax havens, Panama and Switzerland are the favorite offshore jurisdictions of investors. For many years, investors viewed Switzerland as the go-to place when desiring to place money in an offshore account. Panama has joined Switzerland in these ranks and now the two are the most sought after jurisdictions for investors world wide. Panama and Switzerland have both become great at safeguarding your personal and financial data since their reputations rely on this. If they were... Read more »