Posts

Australia - Tax residence and fiscal domicile

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We previously discussed Australia tax residence here -  http://www.mooresrowland.tax/2019/10/perpetual-nomad-is-it-possible-to-pay.html

It is not only important where a company is incorporated but where "management and control" is exercised.  This is something that often catches #entrepreneurs or #locationindependent #businessowners by surprise.
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So even if your company is incorporated in the #BVI or #HongKong, if you as the key decision maker are based in #Australia and are #taxresident in Australia then the world wide income of that company may be taxable by the #ATO
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Another reason why having proper advice is super important when running a company 




Corporate residence
A company incorporated in Australia is an Australian resident for tax purposes. A foreign-incorporated company can also be Australian tax-resident if its central management and control is in Australia and it carries on business in Australia. The Australian High Court addressed these rules in its November 2016 …

Economic Substance in the Cayman Islands

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We previously wrote of the new Economic Substance (ES) requirements for the BVI here – http://www.mooresrowland.tax/2019/09/economic-substance-requirements-in.html
ES requirements apply to many other jurisdictions including the Cayman Islands.



I previously mentioned that onshore is the new offshore. But are we seeing the creation of 3 groupings?
1. The USA including the USVI
2. Post-Brexit London plus the Channel Islands and Switzerland
3. Singapore standing alone in Asia


Returning to the Caymans, legislation in the Cayman Islands provides economic substance requirements for certain Cayman-based entities (including certain foreign companies registered under the Cayman Companies Law (2018)) that are engaged in certain “relevant activities.”
The economic substance requirements apply if the subject entity: ·Conducts Cayman Islands core-income generating activities ·Is directed and managed in an appropriate manner from the Cayman Islands, and ·Conducts certain operating functions in Cayman adeq…

Let's Talk About MALTA

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We previously discussed Malta in the context of the DTA with the US here -  http://www.mooresrowland.tax/2019/06/lets-talk-about-us-tax-implications-of.html
Despite the dangerous and unqualified opinions on dubious websites, it's important for every location independent professional to have a carefully chosen tax residence -  http://www.mooresrowland.tax/2019/10/perpetual-nomad-is-it-possible-to-pay.html

Malta is a popular option for both EU and non EU citizens seeking alternative residency. We have had lots of inquiries about Malta.  Malta has a very interesting tax regime where foreign income is not taxed if it’s not remitted to the country. Consulting with an accountant is advisable since each case is different.  
It's similar to being res-non-dom in the UK - 
http://www.mooresrowland.tax/2016/12/potential-uk-non-dom-changes.html Or Portugal -  http://www.mooresrowland.tax/2019/10/brief-on-portugal-taxes-including-nhr.html

The income tax rate in Malta varies between 15% and 35% dep…