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The last change before your CRS exchange (AEOI) is set in stone – GLOBEVISA TIN Program
Why do you need Hong Kong Bank Account Opening at the same time with an Offshore TIN (Taxpayer Identification Number)?
20 Quotas From Now On to Enjoy No Landing Requirements to Open an Offshore Bank Account in Thailand with Globevisa
According to the “OECD SECRETARY-GENERAL
REPORT TO G20 LEADERS” published and announced on July 2017 in Hamburg, Germany,
the automatic exchange of financial account information (AEOI) has been making
great progress. From the 142-member countries and jurisdictions, over 500,000 taxpayer’s
offshore assets been disclosed, and 85 billion euros of additional tax revenue
has been identified and recovered after a series of voluntary compliance mechanisms
and offshore investigations. The number do not limit to those who attempted to avoid
tax and those who had insufficient tax planning.
Under CRS and AEOI, where to deposit the money or how to hide a certain amount of asset is not the way to go. Despite the fact that attempt is illegal, one must understand two facts.
One, CRS and AEOI applies to all financial institutions FIs, banks, fund, insurance are all on the list.
Two, there are very few countries or jurisdictions in the world did not join CRS, and fewer will remain. On global news, countries did not join the AEOI & CRS are constantly being pressured on conferences and on UN. Panama, jurisdiction which have failed to meet the international tax transparency standard has faced their consequence. Panama was then pressured on the G20 to put its house in order to ensure the success of implementation.
2018 is the year to do a better tax planning / tax identity planning. The one thing people should consider is the tax identity. The game is no longer a search of locations or setting up barriers. It is to declare the right tax residence with reasonable tax rate, and allow the AEOI implement. SIMPLE AS THAT.
Read more about CRS, AEOI & Tax Planning
Untraceable CRS solution
What is a solid CRS solution
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Contact Us for more information and take a FREE Eligibility Assessment today.