International tax planning is a complex minefield to navigate without experience and a deep understanding of the relevant tax laws. However, as leading Maltese Tax Advisers, we have given you information to help you navigate International Tax Planning in Malta.
What is Tax Planning?
Tax planning includes the analysis of a financial situation from a tax perspective. The purpose of tax planning is to ensure that you’re not only tax-efficient but also compliant. Therefore, by reducing the overall tax liability and ensuring that every action taken is compliant with the law, you’re more productive than ever.
What issues face Individuals and Companies?
Companies affairs such as setting up, operating, transferring and closing a business have both direct and indirect tax consequences. Furthermore, matters related to an individual’s cases, such as moving country, saving for retirement, selling a business or transfers of an estate also have tax consequences. Therefore, to be tax-effective and compliant, you must seek qualified advice to navigate this correctly.
Why plan for International Tax?
International transactions are at risk of attracting double taxation. Consequently, this will make operations more costly and can sometimes limit cross-border trade and other activities. Therefore, it is essential to analyse and prepare for the possible tax consequences and plan the transactions in a manner that will make you as efficient as possible.