FATCA aims to facilitate the reporting of foreign financial assets, to find US accounts in foreign financial institutions’ and find those using different vehicles to reduce the tax burden located outside of the US.
Notional Interest Deduction or NID is an estimated expenditure offered to all Cyprus-resident companies (including non-resident companies with a permanent establishment in Cyprus) against their taxable profit resulting from application of new equity introduced in their share capital.
Registration is open to all types of ships which includes offshore vessels like oil rigs and floating platforms. The vessel should be less than 17 years old and classed with any of the nine recognised classification societies.
On 17th June 2015 the European Commission has presented the Corporate Tax Reform Action Plan which signifies the second and more comprehensive step towards remodelling corporate taxation in the European Union.
In the world of offshore, Nevis specialises in letting its clients create corporations with greater anonymity than almost anywhere else on earth. Since 2012, the island’s financial services sector has grown exponentially, as those wishing to retain anonymity relocated to a place that promises just that.