Hi folks,
Dummy scrolling through these posts one thing comes to my mind, there is a lot of general focus on CRS, reporting, exotic structures and playing devil's advocates pointing why that casual log-in from France with your real IP will set of a motion at your Turkish bank leading to police cars being all around you just after you have finished your pizza in Sicily
BUT
What instead if we shift the focus on being honest and report and file always everything, but simply fail to pay up?
There is always a good reason -> "Making only 100k a month, but there is COVID and I can't really pay the taxes now. Can't pay the rents since the money was spend for a new SUV to sleep in during lockdowns offroad. No cash for the traffic fines since they never reached me at my 3rd residence address. No outgoing invoice payments to suppliers since as to my saying the end clients never paied me. No cash for VAT due since the operating capital was invested in crypto and lost entirely due to an 2.3% intraday CRASH in BTC!! With only 10MM in revenue it's impossible to be sustainable and competitive long term..." There is always a good excuse
How's that that some and I would say really successful business people have company accounts always frozen or blocked and nontheless operate undistrubed? Heck I even heard of A series football clubs operating with frozen accounts and huge tax debts
The worst case seems to be just filing a routine default and moving the jurisdiction, perhaps with acquiring some off the shelf..Businesses start and die
A little myopic to only focus on CRS, imo. What abt asset protection?
Dummy scrolling through these posts one thing comes to my mind, there is a lot of general focus on CRS, reporting, exotic structures and playing devil's advocates pointing why that casual log-in from France with your real IP will set of a motion at your Turkish bank leading to police cars being all around you just after you have finished your pizza in Sicily
BUT
What instead if we shift the focus on being honest and report and file always everything, but simply fail to pay up?
There is always a good reason -> "Making only 100k a month, but there is COVID and I can't really pay the taxes now. Can't pay the rents since the money was spend for a new SUV to sleep in during lockdowns offroad. No cash for the traffic fines since they never reached me at my 3rd residence address. No outgoing invoice payments to suppliers since as to my saying the end clients never paied me. No cash for VAT due since the operating capital was invested in crypto and lost entirely due to an 2.3% intraday CRASH in BTC!!
With only 10MM in revenue it's impossible to be sustainable and competitive long term..." There is always a good excuseHow's that that some and I would say really successful business people have company accounts always frozen or blocked and nontheless operate undistrubed? Heck I even heard of A series football clubs operating with frozen accounts and huge tax debts
The worst case seems to be just filing a routine default and moving the jurisdiction, perhaps with acquiring some off the shelf..Businesses start and die
A little myopic to only focus on CRS, imo. What abt asset protection?
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