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What's the use of elect volunteer a 1% tax?

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rockrock

New member
St Vincent LLC's and others allow to opt-in for a 1% tax.


What's the use of that?

Well, you can pay a bit tax and get a tax assessment letter. Can you see scenarios where this would help compared to pointing out that such companies are tax exempt? Useful for AML elsewhere?

 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
St Vincent LLC's and others allow to opt-in for a 1% tax.

What's the use of that?

Like you mentioned the point of paying the 1% tax is to ensure your IBC gets a tax certificate. Your just basically paying for a tax certificate. Also showing your company has been subject to corporate tax may also help in certain structures and countries where untaxed income may otherwise be treated differently.
 
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