Recent content by Trashy

Hello, In short, as title says. I'm an EU (Hungarian) national, working as a freelance software developer, doing both contract works and developing my own apps, services. Lately, my country has been becoming less and less livable; higher taxes, lower quality of public services, more corruption...

Haha, indeed. Thanks, guys. It seems that my dream setup didn't pass the trial of, well, reality. I'll look into US companies without a company owner.

Hungary has a double tax agreement with Romania. I'm certain the Romanian company wouldn't be subjected to Hungarian corporate tax. However, I’d only be required to pay income taxes after dividends, deducting the amount (at the rate of 5%) payable in Romania. Which is fine, for the time being...

Thanks for the reply. The 3rd point is a bit concerning. Is there a way I can enjoy the benefits of a US LLC while paying taxes in Romania, or is it fairy tale territory? I'm a (tax) resident of Hungary, to further complicate the matter.

Hello, What I'm planning on doing is starting a Romanian company (utilizing the 1/3% micro-company tax there). I'm a software developer, and the company would have two main types of income: 1) freelance work, 2) advertisement income/sale of digital products. For the foreseeable future, I would...

You’re right. TransferWise claims it currently doesn’t report to tax authorities.

My country (EU) has no double taxation treaty with either Barbados or Bermuda. So I guess it’s not something I can take advantage of, right? :/

Yes, under the standard scheme, corporate tax rate is 9% and income tax is 15%. However, there is also a 19.5% social contribution tax (called "SZOCHO") on top of the income tax. The scheme I am using (called "KATA") means a monthly fixed tax amount of 50,000 HUF (roughly $160) and you don't...

Hello, I'm from Hungary. Sorry, I was under the impression that mentioning specific countries is somehow frowned upon. I spend roughly half of the year traveling around the world, but moving permanently? No, not at this point. If I earned around 100k, then I would consider it.

CDC cards are already used in the US, Singapore and Australia. They have been out for years now in the US. EU card release is delayed somewhat. But yeah, the company is legit.

Hello, I am living and working as a sole proprietor in an EU country. While taxes are generally sky-high, we have a handy tax scheme, where you pay roughly $160 a month, and you can have tax free income of up to $39,000. You have to pay 40% of tax on any amount exceeding the limit. This is...