Tax planning is an integral part of a successful business strategy. The international tax landscape changes rapidly. To implement provisions of the BEPS (Base Erosion and Profit Shifting) Action Plan aimed at providing for tax transparency, de-offshorisation and the substance over form principle, more than 135 countries are collaborating on the implementation of measures to tackle tax avoidance, improve the coherence of international tax rules, and ensure a more transparent tax environment.
Our tailor-made tax advice is aimed to serve the needs of your business and cover the applicable taxes and duties, task risk management, fiscal policy, international taxation issues, etc. We develop new and the most up-to-date tax solutions that our clients can use to maximise their business performance.
Owners and controllers of foreign companies are also affected by the controlled foreign company (CFC) rules implemented by the anti-tax avoidance directive (ATAD) and adopted by the EU member states. CFC rules are designed as a tool to prevent the diversion of profits to offshore entities in low or no-tax jurisdictions. Owners and/or controllers of foreign companies may face the need to submit additional statements and pay taxes in their country.
Mayon experts can diagnose your business structure and help to understand the scope of additional compliance requirements as well as taxes, penalties and sanctions that may apply to you as a company owner/beneficiary/controller under the CFC regime. We will consult on possible options of tax risk management in your specific situation.