Quote: (08-27-2018 07:27 PM)Johnnyvee Wrote:
Quote: (08-27-2018 03:19 PM)DaveR Wrote:
Quote: (08-27-2018 02:47 PM)Johnnyvee Wrote:
-Also, are you a 100 percent sure that an online business does not fall under the corporate tax umbrella? (15% tax if so.) If you do say affiliate marketing via Amazon etc. as an example.
Only foreign SOURCED income is exempt from income tax - dividends, royalties and interest, rent on foreign property, etc. I.e. passive income.
If the source of your income is work that you do in Georgia, you're liable to local taxes.
Affiliate marketing could be structured to avoid local taxation, but you'll need to set up an offshore and pay yourself a small wage for services to the company. Local wages are low, so it shouldn't be an issue.
Georgia doesn't have any anti-CFC legislation, so owning offshore companies isn't an issue.
Thx for the info. You seem to know a lot about this stuff, so I have a few questions if you don`t mind.
-Do you know if this is the same for the Ukraine? I got that impression. (0 tax of foreign sourced income.)
-Also, if you move to any of these countries, could you set up a business in another country than your home country? My Government (Norway) seem to hunt down anyone that want`s to "escape," so I want to avoid that if I can. Could you register a paper company in the Bahamas, or equivalent nation, in other words?
They have worldwide taxation of residents, but it's very possible to optimise. Cypriot companies are popular with locals because the tax treaties between the Ukraine and Cyprus offer good rates on dividends and interest. You could accumulate your profits offshore tax-free and pay 5 or 10% on money brought into the Ukraine.