Question : Offshore company for tax shelter?
If I set up an offshore company for the purpose of trading stock and investing, can I save money on capital gains tax? I am considering creating an offshore company in a country with no capital gains tax. I could then distribute money to shareholders (myself) as dividends thus lowering my taxes. Has anyone done this? If so, what country should I incorporate in and what is the cost?
- asked by SF
All Answers:
Answer #1
Nope. You'll still be liable for US taxes on theincome. There's no tax benefit from this unlessyou're trying to improperly evade taxes. The IRShas ways of estimating your income from such aventure and that will usually result in muchhigher taxes and more grief for you proving yourposition with them.
- answered by bostonianinmo
Answer #2
And why would I try and help you lower your taxburden, at the expense of mine? If you pay lessthat means I have to end up paying more.
- answered by PepsiLime
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