Taxes should be paid. Not paying taxes is a crime in a civilized society. And that how it should be.
However there are taxes and taxes.
Deciding to pay tax A may be more advantageous than paying tax B. Tax picking is all around us from buying cheap spirits from the next door state or country to multinational schemes to bill your online sales in state A rather than B because the tax incentives are big.
Governments use tax regimes to favour specific 'investing citizen'. Knowing your tax status is important.
One area where taxation bites in a cruel way is succession in small businesses where the use of tax specialist is unheard of or even ridiculed.
So after you sink in blood and sweat, burning the proverbial mid-night oil when you transfer the business to the next generation Mr Taxaman takes part of the wealth you generated over the years. This chunk can be a walloping 35% or 65% depending on jurisdiction.
Come and join us at the Innovaxin Succession Workshop or contact us for more information.
Managing Director and Chief Programmes Officer based in Malta and an avid entrepreneur who likes sharing his expertise in various fields with people from all walks of life.
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