MAURITIUS - INTERNATIONAL FINANCIAL CENTREGlobal Business License 1 (GBL - 1)Companies that is incorporated in Mauritius and has its controlling interest in Mauritius is considered to be resident company for tax purpose. Companies are liable to pay tax at a rate of 15 %.Global Business Companies are governed by the companies Act 2001 and Financial Services Development Act 2001.Offshore CompaniesGlobal Business License 1 (GBL 1)Global Business...more
The Heavy Highway Use Tax can seem like a nuisance to those who have to dig into their pocket each year and fork it over, especially as a new business owner or truck driver. Many consider it a bit unproductive to charge because big trucks provide the infrastructure that runs our country and cities.But when you take a closer look at the significance the Heavy Highway Use Tax has for society, it starts to make a little more sense. Did you know...more
The HVUT, or Heavy Vehicle Use Tax, is an annual tax paid by truck drivers or owners of trucking companies. It applies to drivers operating large vehicles on our nation?s highway, and a lot of the money goes towards maintaining roads, alleviating congestion, keeping the roads safe, and funding new projects.But for many truck drivers who see themselves as the backbone of the American economic system, being taxed extra for the services they provide seems unfair and unproductive. Thus, many go out of their way to avoid the heavy highway use tax.But is it really worth it?Sneaky TacticsThere are many businesses and individuals out there doing what they can to avoid paying the HVUT. Some will lie about the weight of their vehicle or even register a vehicle as exempt when it is anything but exempt.Others will fudge the numbers on their driving miles?because commercial vehicles that have driven less than 5,000 miles over the year or agricultural vehicles that have traveled less than 7,500 miles do not have to pay the Heavy Vehicle Use Tax.Others will simply fail to remit, lie or forge on the IRS documents. And then there are those with the audacity to resort to bribery.The Government...more
As one of the most the most heavily taxed industries out there, truck drivers and trucking companies are always looking for a place to cut expenses, and one place to look is the Heavy Vehicle Use Tax. Depending on the group you belong to or what type of vehicle you drive, there may be an exemption for which you are qualified. Let's have a look at...more
As taking on the IRS at times it's best to avail help through a tax professional for your IRS tax relief. Tax attorneys, CPAs or registered agents are all competent to get on tax issues. Whether you face a regular request for supplementary documentation, or a day in Tax Court, make certain your professional's know-how and interest matches your...more
Wall Street Journal editorial, A 69% Capital Gains Tax Hike . . . Pelosis 5.4% Income Surtax Would Hit Capital Gains and Dividends:House Democrats are funding their new entitlement with a 5.4% surtax on incomes above $500,000 for individuals and above $1 million for joint filers. The surcharge is intended to snag the greatest number of taxpayers to raise some $460.5 billion, and so the House has written it to apply to modified adjusted gross income. That means it includes both capital gains and dividends.That surtax takes effect on January 1, 2011, or the day the Bush tax rates of 2001 and 2003 expire. Todays capital gains tax rate of 15% would bounce back to 20% because of the Bush repeal and then to 25.4% with the surtax. Thats a 69% increase, overnight. Some readers may think that this 5.4% surtax cant possibly make it into a final Congressional bill due to Senate opposition, but we wouldnt be so sure. Mr. Obama hasnt said so much as a discouraging word about the House bill. And weve seen in the past 10 months that when Mr. Obamas campaign promises clash with the priorities of House liberals, the liberals always win.Bloomberg, Orszag Says Capital Gains Medicare Tax in Play on...more
Investment interest is deductible in computing the Regular Tax, although certain limitations apply. The Alternative Minimum Tax similarly allows this deduction, but it is subject to differences in the limitations. Understanding these differences...more
Home mortgage interest is deductible in computing the Regular Tax, although certain limitations apply. The Alternative Minimum Tax similarly allows this deduction, but it is subject to differences in the limitations. Understanding these differences...more
Even though not everyone is looking forward to filing taxes, an IRS tax debt relief is relatively easy to accomplish. You do not need to worry every time you hear the word IRS, because if truth be told, this agency can be extremely helpful. With...more
Berry Everitt, MD of the Chas Everitt International property group, advises affected consumers to keep abreast of developments and to make use of the opportunity when it arises, since it will represent a tax saving of almost 22%.On top of that,...more
Did you forget to pay your taxes on schedule or even neglected your tax obligation to the US government? In case you have forgotten to pay taxes, now get prepared to face the IRS bank account levy. To the Americans, IRS bank account levy is a very...more
Author: Richard A. ChapoAs we celebrate leaving 2009 behind, we necessarily turn towards 2010 and start considering what the future holds. For instance, what does the year hold on the tax front? 2009 was a unique year when it came to personal finance...more