WOW ! Today I am a happy camper. My account is no longer frozen. I am able to pay vendors. However due to CRS, and the fact that the account will be terminated I have to reorganize. I will also have one important payment to make after closure of the account. I'm waiting on confirmation from my...
Well, honestly most of the incoming funds will be from Paypal- to Visa card. All of outgoing are regular invoice payments to vendors. The company is on the up and up in every way. Of course with Paypal, funds come in at 750.00 per shot no more. I suppose I will be very speedy at paying my...
Austria and Italy are personal accounts. They are not blocked, but they requested suddenly that I contact them. I haven't had time. Only Cyprus accounts are in IBC name. I am waiting to see if my agent can get the account operable until at least Dec. 31 so I can pay vendors. What is absurd is...
You can withdraw however only to VISA cards not Mastercard. And it needs to be a direct link card- meaning the funds go straight to your account. I have two Cyprus accounts. One with MasterCard debit (uesless) and one with linked Visa - perfect.
So changing bank accounts (as I did) is not a...
Very nice list. Leupay sounds good. I was wondering if any of you have any input in view of these new regs. Note. I am a US citizen, resident in Italy. Ibc in Seychelles, bank in Cyprus.
I think it is no coincidence that my Austrian bank officer wants to talk (after 3 yrs), My Italian bank...
Well nothing in the end is exactly free. You have the added expense of the company itself (something like 1,500?) and having to pay 10% taxes in Cyprus as opposed to paying maybe 1,500 a yr for a VAT rep who in the end actually does something for you - file your vat up to a volume of...
Well aside from the fact that the vat rep should be an expert and by law assumes joint responsibility for filing vat returns, there is only one reason (that I can see) to incur the added expense. Because the law does not permit direct registration of all companies in some countries. So often...
It sounds very usual to me. Especially if you consider that most foreign companies can apply for direct vat identification in most european countries. Even in Italy, an uncoopertive non-tax friendly country, you can do this online even in English. Though, in Italy only companies registered in...
Vat representation in Europe
Actually if is not true that your offshore company cannot get a vat number. You appoint a fiscal or vat representative in the country you are selling services or products in that are taxable. Your vat rep files all the forms and pays the sales tax usually quarterly.
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