Tax Heaven Countries

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ProHat
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ProHat

Tax Heaven Countries
« on: August 06, 2015, 12:39:58 PM »

Hello guys ,

I was wondering which countries in Europe ( or globally ) are the best / optimal to live to ,  in terms of our profits from arbing   are less taxed.Please share any thoughts or  info you have or even better a top 10 list of tax heaven countries for such purposes. I 've gathered myself some info , but I really look forward to hear your thoughts on this topic.
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Looter
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Re: Tax Heaven Countries
« Reply #1 on: August 06, 2015, 01:09:04 PM »

You are bit confused.
The taxation of the companies is not related to the taxation of the residents..
If you want to setup a company in order to hold your profits and pay small tax is something different compared to change your residential status and move to a company with low taxation for the income of their residents.

Please clarify.
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batko
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Re: Tax Heaven Countries
« Reply #2 on: August 06, 2015, 09:08:15 PM »

You are bit confused.
The taxation of the companies is not related to the taxation of the residents..
I don't see him mentionning companies or residents. As far as I understood, he would like to know in which country you open a bank account and then your profits are less or not being taxed. 
@ProHat - I live in Bulgaria and according to the tax legislation here profits from gambling (defined as events where you place a bet that could be lost! and the possible win is a random event) are not taxable.
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MUCHBET
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MUCHBET

Re: Tax Heaven Countries
« Reply #3 on: August 07, 2015, 05:58:30 AM »

...same in Austria AS LONG AS THEY ARE NOT MADE ON PROFESSIONAL BASIS - and as arber I would rather say it is ...
Espescially if you are also using your friend's ID's - no idea of how you would explain towards a tax-official you make money under Mr. Smith's and Mr. Miller's names?????
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ProHat
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Re: Tax Heaven Countries
« Reply #4 on: August 08, 2015, 12:03:46 AM »

First of all thank you all for your responses. @ Looter ,  actually I was referring to the occasion mentioned by @batko . I am not worried about the taxation of companies.Here in my country I have zero taxation from the betting companies. But the big problem is the taxation that I face from the government . For example if I want to buy a 25k car I have to be able to provide evidence of how I accumulated this kind of money. If I say that I won all of them from betting , I will get taxation of at least 10 %  of the total sum ( maybe higher , I am not sure about it ) . So my question is this :  which countries have the less taxing policy for its residents' income  that has occurred from betting activity. I am willing to get my money taxed so that I am legitimate to buy a car or a house in the future but I would like to pay as less tax as possible obviously.  @ Muchbet I am curious about how someone can say that you make profit from betting on a professional basis . I mean how does a tax - official distinguishes a pro bettor from a gambler / fun bettor . Just from his account balance ?
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MUCHBET
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MUCHBET

Re: Tax Heaven Countries
« Reply #5 on: August 08, 2015, 06:11:25 AM »

...somehow you will need to proof the source of your income (as nobody expecting you not having any income!)
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Looter
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Looter

Re: Tax Heaven Countries
« Reply #6 on: August 08, 2015, 01:51:47 PM »

If your profits are that high you gonna need to setup a company for sure if you want to pay the min tax.

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kapetan1122
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kapetan1122

Re: Tax Heaven Countries
« Reply #7 on: August 08, 2015, 02:42:22 PM »

I opened a tread here about it but nobody give any example:
http://arbusers.com/index.php/topic,3086.0.html
Maybe you ll find here something useful and i would like that people give more examples than just mine.

AS for the question if somebody is professional bettor and earning money from it and pay tax on it in my country i get answer that if you are doing something on daily basis this mean that its your profession and you should pay tax on it but you can do like this:start to 'work' in some friend company and in additional you can show that you have some extra earnings from betting but it should be like you bet max day or two in week.
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ProHat
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ProHat

Re: Tax Heaven Countries
« Reply #8 on: August 08, 2015, 08:21:59 PM »

Thanks again for your responses. Getting to the main point , I am willing to ''declare '' to IRS that I earn money only from betting and obviously pay the taxes that I will be obliged to. Do you guys have any info about  which countries' IRS apply less tax % on pro bettors' earnings ?   
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f164
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f164

Re: Tax Heaven Countries
« Reply #9 on: August 08, 2015, 08:53:08 PM »

...somehow you will need to proof the source of your income (as nobody expecting you not having any income!)

key post, have it in your mind
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Alfa1234
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Alfa1234

Re: Tax Heaven Countries
« Reply #10 on: August 09, 2015, 12:54:15 PM »

Bulgaria has a 10% personal income tax, this also applies to betting income if this is your main source of income according to my accountant there.  That is probably the lowest you will find in any EU country, and it's fairly easy to move there.  Cost of living is also still very low compaired to other European countries.
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Thordin
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Thordin

Re: Tax Heaven Countries
« Reply #11 on: August 09, 2015, 01:17:33 PM »

Bulgaria has a 10% personal income tax, this also applies to betting income if this is your main source of income according to my accountant there.  That is probably the lowest you will find in any EU country, and it's fairly easy to move there.  Cost of living is also still very low compaired to other European countries.

You don't have tax brackets?
In Ireland its a bit more complicated, 10-20k a year would be circa 10% but that percentage would get higher the more you earn. Declaring your income from betting is a gray area, gambling is tax free but if you are making a living out of it its not really gambling, there is skill involved and could be considered a trade.
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Alfa1234
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Alfa1234

Re: Tax Heaven Countries
« Reply #12 on: August 09, 2015, 02:23:55 PM »

No brackets no, they have a fixed 10/10 rule (10% income tax and 10% company profit tax).  I do not live there myself but have a Bulgarian Ltd I use.
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ProHat
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ProHat

Re: Tax Heaven Countries
« Reply #13 on: August 09, 2015, 03:56:28 PM »

@alfa1234 thanks for the useful info. Do you know anything about Malta or Andorra ? I ve  heard that those countries have low taxing system as well.
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Alfa1234
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Alfa1234

Re: Tax Heaven Countries
« Reply #14 on: August 09, 2015, 04:59:41 PM »

Not sure...I do know it's much harder to move to Andorra physically.  Same goes for Liechtenstein (very low or almost non-existant corporate taxes and extreme banking secrecy). They will allow you to open a bank account without problems and will not disclose information upon simple request from another country.
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