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newNomad

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Jan 25, 2021
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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 :D
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!! :D 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?
 
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What instead if we shift the focus on being honest and report and file always everything, but simply fail to pay up?

Lol...no problem they will just liquidate what assets you do have and keep you on the hook for the rest of the money owed for eternity. They will garnish your income at every opportunity including pursing you around the world if need be. But bottom line is you will end up working out a payment plan or settlement with them. You really don't want to go to war with the taxman that will be like driving a smartcar head on into a lorry.
 
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What is the content of the new era asset protection toolbox for individual and businesses?

Relocation is the biggest spanner in the box. Plenty of remote worker visa's available now to be able to move more easily.
 
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In 2021 It is better to move to tax Free country . Rather doing some "setup toolkit" solution .
And Digital Nomad Lifestyle ,Travel the World and Pay no tax.
In reality It is very stressful . Too much stress for hotel check in- check out , Transportation stress and other so many nonsense you deal with . It is better to live on some tax free country beach peacefully . than doing this "Digital Nomad" Things. So many on this forum also living on tax free Caribbean island . It is better choice . peaceful and happy life .:cool::cool:

If you are adventure seeker or Earn money by Travel VLOG on Youtube , Than It is good to become a Digital Nomad.
For stress free life Move to beach of tax-free country .


 
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Didn't see the date of the video but really funny this message of "bored of traveling" by Andersen comes exactly when most of the travel is banned anyway or you have to jump through insane hoops. Was recently travelling to Estern Europe for a deal, the amount of controls and bugging at the airports is insane
 
Lol...no problem they will just liquidate what assets you do have and keep you on the hook for the rest of the money owed for eternity. They will garnish your income at every opportunity including pursing you around the world if need be. But bottom line is you will end up working out a payment plan or settlement with them. You really don't want to go to war with the taxman that will be like driving a smartcar head on into a lorry.
Unless we can believe the conspiracy that each person has a secret bank account linked to his birth certificate. If I check my ID number in iban search I get a Santander bank account. I wonder if they'll give me info on this at the bank. So try it out...maybe you're a secret millionaire ;)
 

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