The President of Belarus, Alexander Lukashenko, **signed the Decree “On Taxation”** which exempts forex trading from taxes.The decree exempts individuals from paying income tax received from transactions with non-deliverable OTC financial instruments. The tax exemption was initially proposed in March of 2016, however, since then it was only a temporary measure and had to be extended every...
Path: Blog**Authorities in the Swiss canton of Zug plan to begin accepting taxes in cryptocurrency from the start of next year.** From February 2021, citizens and companies based in Zug will be able to pay of their taxes in either Bitcoin (BTC) or Ether (ETH), as the two are the biggest cryptocurrencies in the market. Starting from next year this will be applicable for local citizens and companies as th...
Path: BlogSaint Vincent and the Grenadines grants fair opportunities for setting up an International Bank as well as provides great business advantages – Banks are exempt from any taxes. Registration of International banks is governed by the International Banks Act of 2004 and Regulations. Supervision body for International banks is the Financial Services Authority.Timeframe: between 4 and 8 month...
Path: LicensingThe Cayman Islands are well known as a tax haven because it has no income taxes and has an easy process for offshore incorporation.Incorporation: approx. 5-6 working days Minimum capital requirements: US$ 1 Overview The Cayman Islands offer their corporations many benefits including political & economic stability, fast incorporation, low registration fees, and...
Path: CompaniesVanuatu IBC is the most commonly used offshore entity known for its flexible corporate structure, exemption from all taxes and stamp duty.Incorporation: within 5 working days + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview Vanuatu, officially the Republic of Vanuatu, is an archipelago in the South Pacific Ocean, eas...
Path: CompaniesPedro Sánchez, Spain’s new prime minister, in his speech before parliament has promised to make **changes to the rules of corporate tax and establish a new minimum of an effective tax rate and increase public spending**. Mr. Sánchez stated that his government would seek to “redesign” corporate tax to ensure that **the effective rate of large corporations is close to the headline r...
Path: BlogThe **newest tax transparency standards** are evolving all over the world. In the early 2018, the UN ECLAC (United Nations Economic Commission for Latin America and the Caribbean) celebrated its 70th anniversary. What happened and how business conditions will change in this region? We will analyze the newest tendencies and explain how business will develop in **LatAm** and the **Caribbean**. ...
Path: Blog...try but headquarters are not obliged to be present there on a regular basis. Operating language in Belize is English due to the fact that it is a former UK colony. You also do not need to file financial reports as you are not obliged to pay internal taxes. **Trading rules in Belize offshore jurisdiction are also very close to standard.** You do not have right to do business with domestic com...
Path: Blog... sovereign and politically consistent territory, being referred to as a solid offshore jurisdiction with a strong confidentiality law. **International business companies in Saint Vincent and The Grenadines take advantages of an exemption from all taxes on income and assets for 25 years as of the moment of incorporation.** It is applicable even when the company is managed with physical presence ...
Path: Blog...ns profits earned selling cryptocurrency will now be liable to capital gains tax. Lod’s Central District Court rejected an appeal from a founder of a crypto startup who argued that profits from the sale of cryptocurrency should be exempted from taxes. The claimant stated that Bitcoin should be considered as a foreign currency, and that the profit of NIS 8.27 million (appx. $2.30 million) occu...
Path: Blog... and they have to accept our values," says Andrew Mitchell, the British Conservative Party representative. He also mentioned that without public registers it is impossible to identify cases of ‘clever’ money laundering crimes. **There are no taxes on profit, no personal income taxes, as well as VAT and sales taxes in the British Virgin Islands.**The companies registered there don’t pay t...
Path: Blog...ptocurrency tax evasion are yet unknown, numerous government authorities have rushed to highlight that this digital asset is one they are focusing on closely. Most jurisdictions have different regulations in a view of a place where cryptocurrency taxes are liable to be paid. As a rule, **cryptocurrency is handled as an asset acquired for capital gains**, this means that you have to pay capital ...
Path: Blog**This week the Bermuda Government announced that the country is ready to accept digital currency for government taxes, services, and fees payments.** Bermuda thereby became the first government providing such an opportunity. This means that around 60,000 residents of the island will be able to pay their taxes using the cryptocurrency. **For government services payments, Bermuda will accept U...
Path: Blog...a draft bill will be drawn up by the finance ministry by the first half of 2020 year. The government of South Korea is determined to levy capital gains tax on digital currencies even if the forthcoming bill will not be approved. In order to levy taxes, the government will also have to precisely define the term of cryptocurrency and collect trading data from crypto exchanges operating in South ...
Path: Blog...y, lots of smaller esports betting brands have only been able to legally operate by getting a license from the Government of Curacao. The new organization is expected to be granted more extensive powers to do things like collect license fees and taxes from its licensed operators. Such powers will come at a cost and this could lead many smaller operators to pay higher fees to operate under Cura...
Path: Blog...sh the trust fund. The bill, which was proposed by Bukele himself, touches many areas related to the use of cryptocurrencies. It recognizes Bitcoin as a legal tender, scraping all associated capital gains tax. In addition, the country will accept taxes in Bitcoin, and the US dollar will be the ‘reference currency’ when denominating prices. Also, Bukele is considering promoting Bitcoin mi...
Path: Blog...dministration may change the situation dramatically, turning Hungary into the beneficial financial and economic environment for such schemes. That resulted in Hungary receiving criticism for helping international companies avoid and minimalize their taxes. Although, since Hungary has a clean reputation in those questions, more and more companies choose her to run their business on paper there. ...
Path: Blog...s to label crypto-exchanges as e-commerce platforms. This governmental initiative will result in Indian crypto-exchanges to fall under the GST regime that will prompt them to levy a one percent tax collected at the source. However, the collected taxes might be set off later according to the investor’s tax liability. In case the new regulations will be finally accepted, all the crypto-exc...
Path: Blog...vernment is looking at crypto gains similar to gambling and lottery earnings, where it levies a flat 30 percent tax rate. “The taxation of profit from crypto assets at 30% may not receive equal appreciation from all the stakeholders. The higher taxes may discourage investors from choosing crypto as an investment avenue and delay the mass adoption of crypto assets in India,” said Jay Hao, th...
Path: Blog...ents but still there are some interesting factors you, as entrepreneur, should know about. Labuan International Company is the most popular business structure when you decide to create an offshore company in Malaysia. This jurisdiction grants low taxes for international business. For example, company’s paid-up capital is limited to 1$ and you can also enjoy advantages of paying only 3% or fix...
Path: BlogInternational Business Company in Seychelles is an ideal solution for confidential and fully tax-exempted international business: no requirements to file annual returns, no taxes or stamp duties, no US or IRS interference, no public records. The Seychelles IBC is commonly used for international trading operations, investments and holding purposes, leasing of vehicles or aircraft, marketing and fi...
Path: CompaniesLow capital requirements, and favourable tax regime (including absence of indirect taxes) supported by a network of treaties on avoidance of double taxation make Labuan company a popular choice for incorporation of regional headquarters, e-commerce enterprises and Islamic Finance businesses.Incorporation: 7 working days + delivery time for the courier Minimum paid up capital: No ...
Path: Companies...nline. Long gone are the everlasting days of waiting for the Companies House to take care of the paperwork: now you may form a limited company in a timespan of few hours. Moreover, the costs of registration are relatively low compared to corporation taxes. The latest Companies Act, made a lot of changes making it easier to create a limited company. The UK government always searches and examines...
Path: BlogVanuatu tax haven has the advantage of directing the finances they would have spent on taxes on other productive functions that can facilitate the growth and expansion of a business.Description Vanuatu is considered one of the tax heavens. And most of the reasons that support this claim are encouraging business development in the region. For example: Vanuatu In...
Path: Accounting...an Islands is due to its compliant and effective laws, easily accessible professional service providers, and high reputation amid stakeholders. Besides all this the Cayman Islands has no capital gains, income, profits, corporation or withholding taxes neither on the investment fund nor its investors. It is essential for investors in the Cayman Islands business, prior to making an investment, t...
Path: Blog...ity to use advantages of special Cyprus investment firm license. It allows founders or CEOs of companies to use all taxation advantages for their business. For example, except for corporate income tax of 12,5% you will be able to avoid capital gains taxes on the disposal of securities, use double tax treaties for your company and also reduce to 0% (zero) tax on payments to international shareholde...
Path: Blog...able among offshore business founders. Next argument to form an offshore company in Vanuatu is tax regulations. It is important to mention that there is no capital gain tax, income tax and withholding tax. International companies are exempt from taxes already over two decades. This applies on international operations only and you will need to obtain the license and pay domestic taxes to use in...
Path: Blog...decision about the Bahamas. This country, officially known as the Commonwealth of the Bahamas, and has all the advantages of an offshore jurisdiction.* For example, tax climate for IBCs is close to perfect. International business is exempt of local taxes, including sales, dividends, corporation and capital gains tax. Also, international currency exchange rate and rules are very favorable for busi...
Path: Blog...mics after becoming place for foreign investors. There are special regulations in domestic countries as well. These are made for maintaining balance between taxation for offshore business and native companies. International income tax and individual taxes are balanced specially for this reason. Another point to consider when moving a business offshore, is safety and confidentiality of the count...
Path: Blog...s a big role in company formation. Comfortable offshore climate often depends on local regulations. Most considered branches are: asset protection legislation, confidentiality conditions, international business functioning rules, investment laws and taxes. Due to this, many worldwide-known offshore jurisdictions became popular: Cyprus, Switzerland, the UAE and other. Considering this point, it is ...
Path: Blog...ize their profit and legally keep their money.* However, it is not right to look only to big enterprises because the law is the same for smaller companies as well. Every entrepreneur can choose a suitable offshore plan to increase profit and reduce taxes. Sometimes law can be even more loyal to smaller companies depending on the jurisdiction you choose. It may lower the risk of losing money to un...
Path: Blog...d to keep in mind that responsibility will always follow. * We have already point out several types of company structures before. And now we would like to highlight 6 possible ways to save your assets in case of business problems. 1. Payroll taxes should be paid on time. It is an important government tax and it is strictly controlled by state authorities. Why is it so important to pay your...
Path: Blog...newing documents annually** Most jurisdictions worldwide have requirements for renewing documents of the company. Which documents have to be reviewed? Most often they include licenses, permits and intellectual property documents. Moreover, paying taxes is also a periodic process you need to control. Having a real physical office is useful for controlling all periodic payments and document rene...
Path: Blog*Important thing while starting a business, is to choose the right legal structure of the company. It affects many legal aspects of company`s procedures.* For example, who runs the company, how taxes are paid, which documents need to be prepared and many other. Entrepreneur needs to know the most common types of company structure and select the best one to run their business effectively. Here...
Path: Blog*Most of today's employees or businesses are looking forward to work internationally. When a person receives an international payment a question on how to pay income taxes will arise.* Earnings shall be displayed in the US tax return, and we would like to draw your attention to some points of income reporting. We will focus on two most common situations: when you earn money abroad while being...
Path: Blog...the most suited country for your business, which offers best legal conditions for the company. 2. Financial reasons. Businesses, especially newly started, are not always profitable enough not to think about the optimization. In domestic country, taxes can be unbearable and startups can lose their chance for success. There comes a day when you need to choose the best taxation jurisdiction or co...
Path: Blog...connected to the place where it is operated and registered then you can easily optimize its work. However, this is not the only scope of business to be moved abroad. You can choose the offshore country to be the most reliable, safe and to defer your taxes and incomes legally and profitably. The very important preparation part of setting up an offshore business is to perform due diligence. Offsh...
Path: Blog...l Consortium of Investigative Journalists reported its contents. **Offshore funds investment is not an illegal action** and it does not mean that the investor had done anything wrong. Unfortunately, some businessmen prefer law circumvention to avoid taxes. This makes everyone think that the offshore investments are something to judge for. It is not a big secret that the UK admires its Queen - ...
Path: Blog... consulting services, such as legal, accounting, business and others. Also, the tax will be limited to the services provided to Bermuda companies only. A very important part of the tax reform is that the new government is ready to revive existent taxes for now on, as well as to analyze accordance of labor, goods and service taxes to each other. It is planned to balance these taxes and, if neede...
Path: Blog...tructure** and change the approach. Nowadays, Hong Kong government receives the most revenue from real estate tax and corporate tax. These figures are 28 and 30 percent respectively, which is relatively high compared to other jurisdictions. These taxes are hard to bear for some businesses because they are highly dependent on current incomes and business cycle. Diversification of tax revenues...
Path: Blog...ountries are now gaining popularity and are known for relocation of existing companies to overseas jurisdictions. At the same time, businessmen often decide to start new companies in the offshore jurisdictions to work within the new markets, manage taxes and increase profits. Do not think that offshoring is illegal: professional approach allows you to make everything in a legal scope. Let’s ...
Path: Blog...ness owners are looking for as many pros as possible while going offshore. Legitimate restructuring of your company overseas is beneficial even in short extent of time. What are the main criteria that make owners relocate? Protecting assets, cutting taxes, optimizing expenses: these are only few financial reasons, but enough to start thinking of this. Also, you get anonymity while acting in forei...
Path: Blog...ork for salaries tax, profit tax and tax under the personal assessment. More than 2 million taxpayers might have their tax reduced by 75 percent for the year of assessment 2017-2018. • Tax refunds will also take place this year. If you overpaid taxes due to the legislation delay, you can expect a refund. This will not concern the property tax, however, the rental income can be refunded in cas...
Path: Blog...th term ends, the Inland Revenue Department will have to take measures against taxpayers, including various penalties. This is a part of the government’s plan to manage taxation process and to create more focused and effective system of collecting taxes. St. Vincent and the Grenadines’ government is now in the middle of the **new taxation reform**. It is promised that after all tax amounts ...
Path: Blog... choose the amount of their liabilities and decide on whether they want to operate the company themselves or not. It is important to mention taxation rules when you are registering a company in Scotland. Limited partnerships allow you minimize taxes with a simple scheme. Limited partner in a Scotland company is subject to law profits and the general partner receives most gains. The secret is...
Path: Blog...l persons. The companies for conducting online gambling activities are required to obtain a simple license known as “data processing license. Although this used to be a popular place for online gambling companies due to the absence of corporate taxes and relatively cheap company formation services, in recent years the situation has changed due to money laundering scandal. The government of Co...
Path: Licensing...t part of public record Directors' details –Not part of public record It is required to Maintain professional indemnity insurance (PII) or provide a detailed self-exemption to PII Taxation The capital gains, death duties or inheritance taxes are not subject to taxation. As well dividends, royalties or interest is are not required to be paid Other benefits The meetings of dir...
Path: Licensing...referably 2) Key Individuals A Compliance officer (we have a person to appoint) External auditor(s) TIimeframe The process may be very lengthy – approximately 1 (one) year Taxation Corporate income tax – 28% No withholding taxes Capital gains tax - 18,6% Capital The FSP shall maintain current assets which are at least sufficient to meet current liabilities A...
Path: Licensing...dministrative services in respect of securities for the purpose of investment. Labuan licensed entity enjoys the advantages of tax haven since a company is subject only to 3% of profit tax on net audit profits, and full exemption from other local taxes, assuming that a company does not carry our business activity on the territory of Labuan. Labuan Financial Services Authority (LFSA) is local...
Path: Licensing...ectors' details – Part of public record Taxation 0% tax rate on profits gained outside the Gibraltar 10 % tax rate on profits obtained in Gibraltar 0% of Value Added Tax 0% tax rate on import and export of all forms of art Other taxes: 0% (tax on capital gains or paid dividends, wealth tax, estate duty) Accounting requirements - Must be submitted to the Company Regis...
Path: Licensing... following advantages: Cayman Islands are one of the major financial hubs No local presence required Bank account can be held in any bank (not necessarily in local bank) No local income, corporation, capital gains, profits or withholding taxes for Cayman exempted companies High level of asset protection General information Company structure At least 1 shareholder (natural p...
Path: Licensing...ecognize the digital currency at the national level. The government's rapid development of the cryptocurrency sector is supported by tax incentives and exemptions for companies with a cryptocurrency license in El Salvador. They are exempt from fees, taxes, and duties on digital assets, including capital gains and ordinary income. However, any other taxes and government fees can be paid with crypto...
Path: Licensing...mation Company structure Minimum 1 director (no nationality restrictions) Minimum 1 shareholder(no nationality restrictions) Taxation Value added tax (VAT) - 9% Company Corporate Tax - 20% (Loss carryback years) Withholding taxes: Dividends: 0/15%, Interests: 10%, Royalties: 15% 8 Tax treaties: New Zealand, Japan, Australia, UK, Singapore, UAE, Malaysia, South Korea ...
Path: Licensing..., no nationality or residency restrictions)* Minimum 1 shareholder (can be natural or legal persons, no nationality or residency restrictions) Taxation No corporate tax No withholding tax (Dividends, Interests, Royalties etc.) Other taxes – 0% (capital gains tax, stamp duty on offshore instruments) Local office - Required Physical presence - Required (at least 3 loc...
Path: Licensing... Cayman Islands are one of the major financial hubs No local presence required Bank account can be held in any bank (not necessarily in local bank) No local income, corporation, capital gains, profits or withholding taxes for Cayman exempted companies High level of asset protection General information Company structure At least 2 Directors ...
Path: Licensing... investment and to support the development of financial services 30% personal income tax 0% corporate tax as gains from trading in securities are tax exempt exemption from tax on dividend income (subject to certain conditions) no withholding taxes on repatriation of dividends, interest and royalties to non-residents Registered office - Required Secretary - Required ...
Path: Licensing...s received by subsidiaries of the Swiss holding companies. Dividends received by the subsidiaries of the holding companies give them the right to receive a federal tax reduction by a portion of the dividend income to the total net income; Cantonal taxes - Tax rates vary considerably depending on the Swiss canton where the holding company is established. Resident companies must pay tax on the inc...
Path: Licensing...regarding clients (number of clients serviced, type of clients or value of client’s investment). Main benefits Exemption from stamp duties, registration duties or other such fees Royalties paid to non-residents are exempted from taxes High confidentiality, no public records Bank account in Seychelles Not blacklisted Low capital requirement. Only 50 000 USD Company str...
Path: Licensing...' details – Not part of public record Shareholders' details – Not part of public record Directors' details –Not part of public record Taxation 0% - For 20 years Vanuatu Forex brokerage companies are exempt from the Vanuatu local taxes on income derived outside of Vanuatu Accounting and Audit requirements Financial statement must be prepared by an independent audi...
Path: Licensing...lso be thankful for the ease of business account opening. Some other convenient features that allows the country to stand out on international market are: The exempt certificate that gives 25 years guarantee of exemption from taxes in Gibraltar; The only EU finance centre exempt from value added tax (VAT). However, at the same time as a British Overseas territory, Gi...
Path: Accounting...ficial owners' details – Disclosed with court decision Shareholders' details – Not part of public record Directors' details – Not part of public record Taxation 0% - Belize Forex brokerage companies are exempt from the Belize local taxes on income derived outside of Belize Other benefits Belize tends not to disclose its banking or fiscal information. However, Belizean ba...
Path: Licensing...sm for protecting a business. In the last decade the role of Cyprus in international tax planning has increased dramatically. As a member of the EU Cyprus has quickly gained a reputation as a reliable, legitimate jurisdiction with some of the lowest taxes in Europe in addition to having over 40 double tax treaties to assist in international tax planning. The Private Limited Company is the most ...
Path: Companies... Confidentiality Beneficial owners' details – Not part of public record Shareholders' details – Not part of public record Directors' details –Not part of public record Taxation International Business Companies are exempt from taxes on income derived from outside of Cook Islands Registered Agent - Required Registered Office - Required Local Employees -&nbs...
Path: Licensing...ts derived from these intangible assets. The effective tax rate of the innovation box is 5%. The innovation box is applicable if at least 30% of the profits have been originated by the patent. There are no provincial or municipal corporate income taxes in the Netherlands. In the Netherlands, corporate residence is determined by each corporation’s facts and circumstances. Management and contro...
Path: Companies...s – Not part of public record Shareholders' details – Not part of public record Directors' details – Not part of public record Taxation Limited Liability Companies doing business internationally are exempt from all form of local taxes Other benefits No double tax treaties There is no statutory requirement for any formal meetings of members. All meetings may be hel...
Path: Companies...es restricted only to international business, and joins them into one unified type of company – a BVI Business Company (BVI BC). This new corporate structure preserves all the benefits provided by the previous legislation, including exemption from taxes. BVI BC's are a very popular and widely used offshore companies because of their administrative ease, flexibility, taxation exempt status and...
Path: Companies...s enjoy very attractive tax exemptions and incentives. Your company pays less than 9% for the first S$300,000 annual profits and 17% flat after that for Year Assessment 2010-2012 on income sourced in Singapore. There are no capital gains or dividend taxes on Singapore companies. Excellent tax benefits and business reputation of Singapore are the key reasons why entrepreneurs fr om around the world...
Path: Companies...rtnership) is similar in structure to the LLP. Feature is the fact that the company itself does not pay income tax if its members are non-residents of the UK, every year it is necessary to take only a short Tax Return. Since the company does not pay taxes in the UK, it does not have resident status. Moreover, such legal entity is free to engage in activities outside the UK. A Scotland LP compan...
Path: Companies...offshore financial centres. Of the many reasons to form an international company offshore, easing a company’s tax burden always remains high on the list. Gibraltar’s Non-Resident Companies are not only exempt from paying any local taxes, but also enjoy secure asset protection provisions and flexible corporate structuring that allows for single individual.General info...
Path: Companies...subscribed to. This is a company with a tax reference number which pays tax on its worldwide income at standard UK rates. It is important to note that operation of a Limited company outside the United Kingdom does not relieve it either from taxes or from the filing of financial statements. Every year financial statements of the company must be filed with Companies House, and the relevant ...
Path: Companies...imited liability. A careful design of corporate structure using a Swiss company can achieve substantial tax savings. Swiss GmbH is exempt from all taxation if structured as Holding company. If regular business activities are conducted the Federal taxes apply with 7,83%. In any case Swiss companies underline accounting and auditing requirements. The GmbH is in principle subject to audit.Gener...
Path: Companies...be the same person. Taxation Uruguay does not have a tax on global income. Only income earned within its borders are taxed. Therefore, LLC not engaging in business inside Uruguay will be regarded as a tax exempt company. However, even if no taxes are due, an LLC is still required to file an annual tax return. Other benefits Business-friendly environment Free inflow and outflo...
Path: Companies...sle of Man has strong banking, investment fund and captive insurance sectors, with a well-developed advisory and financial infrastructure and good transport links. Foreign Investors are attracted by the taxation structure; there are no capital gains taxes, turnover tax or capital transfer tax, no stamp duties and low rates of income tax. Non-Resident Company is most popular offshore financial p...
Path: Companies...me such as rental income, investment income, oil, gas, and mineral exploitations Standard VAT rate is 23% Other benefits English speaking jurisdiction; Excellent international corporate image; EU and Eurozone member; Low corporate taxes with a universal rate of 12.5%; Extensive network of double taxation treaties; Ideal for international Joint Ventures where participants are...
Path: Companies...aint Kitts and Nevis. Other benefits No annual reporting, financial or accounting requirements, but company is required to keep financial records to reflect a company's financial status. International offshore companies are not subject to taxes. Free transfer of profits and no restriction on the repatriation of capital. Shareholders are not liable for corporate debts and obligations...
Path: Companies... be shareholders Maximum of three shareholders Taxation The average tax burden is 30% 0.8% solidarity surcharge (5.5% on corporate tax) The median rate in Germany is approximately 14% business tax — depending on location, business taxes can be higher or lower 15% corporate tax Accounting requirements Annual Returns or Audited accounts are not required to be fi...
Path: Companies...destinations with little reporting necessary. The main advantage of the jurisdiction includes almost no tax liability for the companies incorporated in the country. Advantages of Panama Offshore IBC: - Exemption from all local taxes, when income received outside of Panama - Inexpensive annual support - No requirements requirements of a minimum paid up capital - I...
Path: Companies...bsp;Global Business License Company Category 2 (GBL 2) in Mauritius: - Mauritius offers a high level of anonymity and privacy - A dedicated manager available throughout the year - The most competitive price, in complete transparency - No taxes of any sort - Stable jurisdiction with a very good reputation - Efficient communication means - Convenient world time zone: GMT+4 General...
Path: Companies...0,000 Euro. The excess will be taxed at a 20% rate. The personal income tax rate is 24% for those foreigners wishing to reside in Latvia. N.B. U.S. taxpayers must disclose all world income to the IRS as do everyone subject to global income taxes must report all income to their tax agency. Registered office Required Company name Letters: Only Latin and Latvian letters ...
Path: Companies...ation exchange agreements. NRDC of The Marshall Islands is attractive in terms of privacy for shareholders and directors since their personal information is not registered in public records. Moreover, in this island country NRDC is not subject to taxes and are not subject to local tax system and their employees, directors and/or shareholders are not subject to personal income tax.General inform...
Path: Companies