Tax Accounting Records for an Offshore Company
If you use an offshore company for contracting overseas or holding assets offshore , then using a Belize company can give you Tax Saving on Income and Capital and Inheritance if used in the right way.
But you may have a tax liability in your personal or business country of tax residence. Or in your country of domicile for inheritance tax.
Belize offers light regulation and no local taxes. Proper accounting records must be kept though. The annual accounts of the company must:
- show and correctly explain the company transactions.
- enable the finacial position of the company to be explained.
- be kept at a recorded address available for inspection.
If you dont keep proper records there is the danger that your tax savings through the offshore company could be undone and tax charged by your country of tax residence or domicile.
Contact us for a Free Review and assitance in creating and administering offshore tax saving plans for you, your family and your business.
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