QUESTION:
I am a Canadian citizen that runs an international business over
the internet. I have been told that if I incorporate in a tax
haven country that the corporation will not be taxed by Canada on
earned income. It will only be taxed on profits repatriated to
me. Is this true?
========================
david ingram replies:
Your offshore corporation would have to have five full time
employees (who are not related to you) in the offshore country to
qualify for that tax treatment.
Your corporation is a CANADIAN corporation for tax purposes
because Mind and Control is in Canada. You will have to be MACH
3 Razor Sharp to stay ahead of it.
In general,
I am too busy to answer anything from now to about May 4th and
with 20 to 30 a day coming, it is impossible to save and get back
to them.
However,
Answers to this and other similar questions can be obtained free
on Air every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, I, david ingram am
a permanent guest on Fred Snyder of Dundee Wealth Managers' LIVE
talk show called "ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the
internet at
www.600AM.com <http://www.600AM.com/>
Call (604) 280-0600 to have your question answered. BC listeners
can also call 1-866-778-0600.
Callers to the show and questioners on this board can also attend
the Thursday Night seminars on finance and making your Canadian
Mortgage Interest deductible.
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa
Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to davidingram at shaw.ca <mailto:davidingram at shaw.ca>
www.centa.com <http://www.centa.com/> www.david-ingram.com
<http://www.david-ingram.com/>
Disclaimer: This question has been answered without detailed
information or consultation and is to be regarded only as general
comment. Nothing in this message is or should be construed as
advice in any particular circumstances. No contract exists
between the reader and the author and any and all non-contractual
duties are expressly denied. All readers should obtain formal
advice from a competent and appropriately qualified legal
practitioner or tax specialist in connection with personal or
business affairs such as at www.centa.com <http://www.centa.com>
. If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.centa.com/CEN-TAPEDE/centapede/attachments/20050429/422fa81d/attachment.htm
What's Related