Tax Expert Reacts: International Tax Competitiveness Index

Рет қаралды 4,595

Жыл бұрын

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Recently, a subscriber sent me this list for international tax competitiveness for 2022.
Some countries are not surprisingly low on the list, but some are quite high - Estonia being the number one.
What do I think of this list? Is it correct?
What are some tax havens that should have made it to the list? Which are best and worst countries for tax in Europe? In the world?
Let's discuss!
Full article that I was commenting on:
International Tax Competitiveness Index 2022
taxfoundation.org/publication...
#internationaltax #tax #lowtaxcountires
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Пікірлер: 45

@110gotrek Жыл бұрын

A weekly video dedicated to a single country's direction & future tax legislation would be nice. Similarly, would like to get some video's about more unusual country's that one wouldn't expect to be profitable. But may be interesting for certain types of income, capital, operations, etc.

@OffshoreCitizen Жыл бұрын

Great suggestion will do

@mvp019 Жыл бұрын

Your assessment of this list seems very well founded, especially, as you pointed out since it ignores special tax regimes for newcomers. And I got the first comment - a high honor! :)

@OffshoreCitizen Жыл бұрын

Thanks for the support! Anything you'd add to this list?

@guusgeluk3693 Жыл бұрын

Very good breakdown. I used to spend a lot of time researching this stuff and noticed most of these reports online are very rarely good. I don't know if they are paid off or trying to keep people misinformed but it holds almost no weight. You are one of the only reliable tax sources online.

@OffshoreCitizen Жыл бұрын

That's the goal, thank you for the support! What other resources do you use?

@guusgeluk3693 Жыл бұрын

@@OffshoreCitizen when I might have interest in a certain place I start with browsing reddit threads related to tax and see locals and expats experience for it. I know it isn't a credible source but often they researched their tax liability or had an account work it out. If I found enough information about that i continue by looking trough official documentation and start doing the math. Takes me about 2-3 hours usually and than I will have a decent grasp for the local tax laws and If there are any programs that might be beneficial for me. It is usually the social contributions that ruin it for me tough. A lot of places look great on paper but want 400+ a month in social contributions which is just a hidden tax because it will never benefit me in any way.

@hkkyt8963 Жыл бұрын

Thanks Lord Michael 🙏

@Funky420Infotainment Жыл бұрын

Thanks again, for this interesting content. All the best from Zürich

@OffshoreCitizen Жыл бұрын

Thanks for the support! How did you like our list?

@Funky420Infotainment Жыл бұрын

@@OffshoreCitizen While watching I was quite surprised to see a few missing and I had to google,... then while pausing your video I wasnt sure, until I finished watching your whole vid, and noticed your surprise too :)

@avis8306 Жыл бұрын

@@Funky420Infotainment Nothing is missing. The International Tax Competitiveness Index applies only to OECD countries.

@lucchese20 Жыл бұрын

Yikes! Two of the countries I’m considering retiring to from California are on the bottom of this list…PT 🇵🇹 and IT 🇮🇹. So who do I believe; Michael or the International Tax Competitive Index. 🤔 Hmmm…I’m going with Micheal. 😄

@jegarto Жыл бұрын

Great video as usual, maybe a video about countries with benefits for newcomers could be great.

@OffshoreCitizen Жыл бұрын

Thanks for the suggestion! What makes you interested in that topic?

@jegarto Жыл бұрын

@@OffshoreCitizen When you are looking for your next place to live, all information in focus in the general rules of taxation, but is hard to find the exceptions like NZ or Australia Tax that only tax local income if you are in a Temporary (Non Permanent) Visa, making for some people more attractive stay "temporary" in Australia for a while and other like Portugal and others that I don't know. Thanks for your content

@MartinZanichelli Жыл бұрын

Why Paraguay and UAE are outside that list? That list is way wrong. I do not see Monaco either. Forget that list.

@stevepovey2489 Жыл бұрын

I'm from the UK and an seriously considering retiring somewhere warm. I am interested in reducing personal taxation but also need to consider Inheritance tax for my son who will still be in the UK. Where would my best options be? Greece's Golden Visa looks a good option although people do say the bureaucracy is a nightmare

@matiasmanzato1419 Жыл бұрын

Hi Steve, I would not consider Greece, instead I think that you should look at Malta or Cyprus (Greek part). Depends of your situation, I would consider Turkey also (but you need to put an eye in the VAT situation).

@istvankoncz8923 Жыл бұрын

Where is Cyprus from the list?

@micomarinas2753 Жыл бұрын

make a video about egyptian citzenship and their tax system. include also saudi arabia premium golden visa. thanks!👍😉

@OffshoreCitizen Жыл бұрын

What do you think makes Egypt and Saudi Arabia attractive?

@micomarinas2753 Жыл бұрын

@@OffshoreCitizen real estate investment roi air bnb both for egypt new city and saudi new city

@michaelgreen5515 Жыл бұрын

Is there a reason they left out UAE and the Asian options? The UK rating will change soon with CT going to 25% Hard to take this list seriously maybe you should do one

@OffshoreCitizen Жыл бұрын

They were only doing OECD countries And yes we probably should do one

@robinrickards7483 Жыл бұрын

Can you comment on the tax situation in Panama

@OffshoreCitizen Жыл бұрын

It's pretty good but not the best

@matiasmanzato1419 Жыл бұрын

Not Bulgaria or Romania in the ranking??

@intellectualgladiata Жыл бұрын

Why would the Tax Foundation bother even putting this together without including the countries we know are great for tax competitiveness.

@vace8914 Жыл бұрын

Perhaps to "lure" in those who don't care or don't know any better.

@OffshoreCitizen Жыл бұрын

It's only OECD countries

Жыл бұрын

How did Israel get into the list?

@avis8306 Жыл бұрын

The International Tax Competitiveness Index applies only to OECD countries. Malaysia, Hong Kong, United Arab Emirates are not OECD countries.

@OffshoreCitizen Жыл бұрын

Yes that's part of what's deceptive about it

@enjoyslearningandtravel7957 Жыл бұрын

What do you think of Jersey? Is it a better choice than the UK for an individuals Being taxed on their personal foreign income?

@OffshoreCitizen Жыл бұрын

Depends if your objective is purely tax or includes lifestyle and what you're comparing it to. It's a big world out there. It's rare Jersey would be a first choice for someone.

@enjoyslearningandtravel7957 Жыл бұрын

@@OffshoreCitizen I think it would be lifestyle because if my objection was really low tax it would be to move to Dubai or some other almost 0 tax country. I think it would be the best choice to travel to two or three of my favorite choices and then decide and then see if they even allow me to based on what I have.

@enjoyslearningandtravel7957 Жыл бұрын

@@OffshoreCitizen IMO Lifestyle matters more than no taxes unless you’re only living part of the year in a more nomadic lifestyle then no or low taxes might matter more than lifestyle if you can move to other places easily within the same year. Of course low or reasonable taxes still has a high precedence in my mind.