Offshore Company Formation and Management Services
Turner Little - Company Formation Agents & Banking Intermediaries.Chat to a member of our sales team.
Mentor Group

Need help to understand my TAX situation

I just recently moved to high tax Country A). (I am a resident of country A)

I do online business, with a company based in Country B) (my previous country of residence).
But I am a citizen of country C).

All countries ABC are CRS compliant.


I have over 15 bank accounts, in different countries in the world, all of them are CRS compliant though.
I keep $2-3K in each account (the equivalent in each currency).


For ALL bank accounts that I opened, I am still resident in country B (my previous country of residence from 4 years ago).
And they have no idea I am a resident of the new country A.

1) Will this"money spreading" technique allow me to be under the radar for tax purposes? (2-4 K in each bank account, each bank account in different countries,
I do NOT own any bank account in my current residency country A)

2) Will the fact that my banks don't know that I'm based in country A, help me to avoid CRS report to my country A?

3) How much of a trouble can you get if you don't pay all taxes on a 100K income from country B, but you don't live there anymore and you'll never return there?
 

JodyC

New member
Ciao Bana, dovresti sapere qual è il paese di residenza.
In linea di principio, le autorità fiscali del paese di residenza attuale o precedente hanno accesso ai dati di tutti i conti correnti.

Ci sono troppi aspetti da tenere a mente e non è possibile rispondere alla tua domanda qui.

Ti consiglierei di contattare un pianificatore fiscale.

Ciò che chiedi dipende dai flussi medi nei tuoi conti correnti, precedenti dichiarazioni fiscali, saldo all'inizio dell'anno e alla fine dell'anno, singole transazioni superiori a 40.000 euro, ecc.

Se hai incassato 100k, diviso equamente in 15 account, con transazioni abbastanza basse (100 - 300 euro) ti direi di essere calmo.

Tuttavia, ripeto, vai da un consulente fiscale e parla seriamente con lui.

Chiunque ti risponda qui non può essere preciso perché non conosce la situazione.
 

JodyC

New member
Hi Bana, you should know what the country of residence is.
In principle, the tax authorities of your current or previous country of residence have access to the data of all your current accounts.

There are too many aspects to keep in mind and it is not possible to answer your question here.

I would advise you to contact a tax planner.

What you ask depends on the average flows in your current accounts, previous tax returns, balance at the beginning of the year and at the end of the year, single transactions greater than 40,000 euros, etc.

If you cashed 100k, evenly split into 15 accounts, with fairly low transactions (100 - 300 euros) I would tell you to be calm.

However, I repeat, go to a tax advisor and talk to him seriously.

Anyone who answers you here cannot be precise because they do not know the situation.
 

reesek

EU IBANs for everyone!
Silver Member
Crs will still be a mess for several years to figure out evaders. And the first cases will be with bigger fish to scare the shit out of the market. General rule is not to make transfers between reportable and non reportable accounts. Also, misreporting will work for some time. You can get yourself a por in some country that does not collect tax on foreign income and tell all your banks to switch to that por. But generally speaking it sounds like you should consolidate somewhere and legalize as its impossible to track all those leads that could bite you some day.
 
Mentor Group

Latest Threads

Mentor Group
Top