This article, entitled Grant Thornton International Business Report 2010, seeks opinions from PHB (private business) owners and directors on tax issues in their country.
PHBs feel the biggest tax implications. Unlike Google and Apple, this group pays the most corporate taxes in the world.
These PHB views have no basis, according to Worldwide Tax statistics (www.world-wide-tax.com), Singapore and Hong Kong have corporate taxes. personal income tax and the lowest VAT rate in the world
Hong Kong, in particular, has a relatively harmless tax system with no VAT, sales tax, or investment income tax. and there is no employment tax paid by the employer. Only 16.5% corporate tax
Other countries with a low tax system include Bulgaria, Cyprus, and Canada. Countries with high sales tax rates include Germany, France, Belgium, Brazil, the United States, and India.
Countries with income tax rates above 40% are Australia, New Zealand, Belgium, and Germany.
Over the past few decades, countries such as the United States and Japan have reduced their actual tax rates to keep local businesses competing globally. However, governments are unlikely to cut taxes in 2012. Governments will try to reduce the country’s debt accumulated in the country. recession by raising taxes instead
This will inspire entrepreneurs from Europe, the USA, and parts of Asia. Established their own startups in Singapore and Hong Kong.
In March 1999, Bob Perlman, Intel’s vice president of taxation at the time, told the Senate Finance Committee that if he had known when Intel was founded, “what I know about international tax rules in today I recommend that to parents, companies outside the United States. Our tax code is a competitive disadvantage for multinational corporations. because the parent company is a company in the United States.”
In short, if the government is an entrepreneur who seeks funding with the current income model. There will be no co-investment with them. The government is what the rich call “no investment.”
Revenge. Start a business in Asia.
Governments around the world can learn a few things from killing the geese that lay their golden eggs. They are desperate and rely heavily on taxation. They will blindly chase geese in every corner of the world.
over the past two decades, Many industries have experienced dramatic changes in their revenue patterns. Industries such as energy, telecommunications, and logistics Affected by new sources of income are easier to understand.
Sadly, governments have not yet adapted to this new way of thinking and doing business with consumers. Operators can protest by moving their operations to low-tax Asian countries.
in making investment decisions in Asia Operators need to assess the country’s tax risks. Despite the growth potential of many Asian countries But their tax system can greatly reduce a company’s retained earnings.
China is an investment magnet because of the country’s potential for growth. However, its tax system is the most complex in the world. which covers every possible type of tax including VAT service business tax Corporate and personal taxes as well as global taxes
Businesses in India report high indirect tax burdens. This includes VAT. Goods and Services Tax commodity tax Real estate and personal property taxes and excise tax Compliance with both countries’ tax laws is challenging. Many businesses are too small to pay the professionals required for proper compliance.
on the contrary, The tax system in Hong Kong and Singapore is very simple. The only major difference is that Singapore has GST. Both countries have low corporate tax rates. Various tax benefits and high tax stability
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