Tax challenge

Beneficial owners of offshore companies can experience extensive challenges when their local tax authorities start an investigation into their business activities and money streams. When the beneficial owner of the company has not paid the yearly fees to keep the company in good standing, he has a serious legal problem; the offshore company does not serve as an intelligent instrument to avoid taxation anymore but is considered as being part of a tax evasion scheme.

Denis Healey said a long time ago, ‘The difference between tax avoidance and tax evasion is the thickness of a prison wall’.

The above quote should say enough. If you’re late with your fees or want to reactivate your offshore company, you better do it as early as possible. Sometimes the process to reactivate your company takes long. Therefore it is recommended to take action now. Contact us for assistance.