Make use of deductions to reduce the total taxable income.
@EricBrittonSilvado
Ай бұрын
It also conforms to the provisions under taxation laws, thereby minimizing any litigation.
@durhammiller8817
Ай бұрын
Timothy Eric Meek made it clear to me that proper tax planning contributes to the economic stability of the individual as well as the country.
@rosannaconstil571
Ай бұрын
How can i be able to reach him
@christianrode8316
Ай бұрын
A normal online name search will be helpful.
@princeholgate9325
Ай бұрын
Investing tax money generates white money to flow through the economy, aiding in the country's economic development.
@makasher100
Жыл бұрын
Can you do a long-form video on this and explain the correct way to structure this
@ilamalihilustan22
Жыл бұрын
Good idea
@LtDan-yt7lb
Жыл бұрын
You need to rent office space in Barbados and hire an employee to run the "international sales division" down there.
@SGRyuma
4 ай бұрын
Just speak to an accountant
@SGRyuma
4 ай бұрын
@@LtDan-yt7lbthey don’t have to run it just has to look legit it can even be a PO Box.
@thenoodlebuddy
2 ай бұрын
Definitely needs to have substance. Basically just think to yourself when the tax authorities eventually take me to court can I reasonably explain why I did what I did and the reason not be to avoid paying tax
@alcalvis6650
7 ай бұрын
your handwriting is beautiful.
@st-sj1cf
Жыл бұрын
No. First mistake in your calculation is that you must be owner of all 3 companies involved. Only then you can fully exploit Barbados company. Your manufacturing value of goods in Canada is 100$, you sell that for 120$, so Canada will tax 20$, Barbados company is selling your goods to US company for 200$. US company is selling that on US market for 220$. US tax 20$ of profit, Barbados company is taxable for 80$ at 2.5%, that's 2$, so you have 78$ tax free. Better is to exclude Canada and use China with which Barbados have DTA in force. Canadian authorities can see only contracts between Canadian and Barbados, but not between Barbados and US, so they can't know for which price goods are sold and where. Also Canadian jurisdiction ends at its borders, they can't have insight in company register of other countries.
@evergreen7676
Жыл бұрын
…. Until Pillar 2 is enacted with that global corporate tax!
@al9709
5 күн бұрын
What's pillar 2 @@evergreen7676
@thomassparks5205
Ай бұрын
They closed this loophole up in Australia years ago. Good to see that Canada can still do it
@TadhgerLily
Жыл бұрын
So it's better to sell it from the Barbados company 100% instead of splitting
@connormacpherson8774
9 ай бұрын
Not necessarily, because unless your effective management is set up in Barbados, you will still have to pay Canadian tax, even though the company is registered in Barbados. There are many other things to take into consideration when setting up your corporate tax structure for your company, effective management is one that plays a key role.
@TheBunnyDeveloper
7 ай бұрын
Barbados company needed some economic substance
@cadburybubblegum
2 күн бұрын
An office space with two employees would do the job😅
@JVJ_2000
Жыл бұрын
Seems kinda unfair. What gives the Canadian govt any right over one man’s private property and the way they sell it ? The way I see it , he’s not harming anyone that way. Just saving on taxes. Using his private corporations which is “NOT” listed on the Canadian stock exchange. Also , in a totally different jurisdiction.
@bilal4734
Жыл бұрын
Kinda unfair, it's totally unfair they all treated us like a slave
@JVJ_2000
Жыл бұрын
@@bilal4734 exactly, time for a new revolution. Idc if you’re white , black , Christian or Muslim etc. we all need to unite against these corrupt govts.
@therealb888
Жыл бұрын
It's the same with every govt. At least the Canadian govt does much better with the collected taxes than the corrupt govts in developing countries. I would actually feel proud to pay taxes in Canada lol😂
@bilal4734
Жыл бұрын
@@therealb888 I agree, my favorite country is Canada but their health care sucks
@ariihauu_mrs
7 ай бұрын
taxation is theft
@mariacicarelli6238
6 ай бұрын
love your hypothetical example bring them all
@bibu3324
8 ай бұрын
Absolutely clear and onesided pristine case of Transfer pricing gone wrong. No one well informed within the TP community right now will be doing these type of insane manauvers. Dempe functions are being scrutinized deeply. Pillar 1 amount B streamlined process is not being applied yet, but if does it will cut off all these type of simple distribution structures.
@EdwardVarner
Ай бұрын
So the people stealing the money said they don't think not being able to steal it is bad for them. Go figure.
@letmelick
Жыл бұрын
SOooo 🤔 what's the right way to do it?? Obviously just asking for a friend🙄
@Rod-bp8ow
8 ай бұрын
Incorporation of companies/corporation are to be REGISTERED as Domestic or International companies and corporation, as Licensees, Franchisors-Owners and Franchisees where PATENTS, TRADEMARKS, COPYRIGHTS and ALL TAXES Classifications and REGISTRATIONS are Implemented amongst countries, where the businesses locations amongst countries are DECLARED addresses as SMES in businesses are Worldwide, SMALL, MEDIUM, ENTERPRISE, NON-REVERSE or FLIP, since it is also DECLARED with respective LGU units for requirements and permits, in all classifications for businesses are to APPLY, Reflected and applied in the books of the CORPORATION, respective Incorporators and its Articles.
@pole69ers
Жыл бұрын
No way I was thinking about this the other day cheers bro
@suliwa670
Жыл бұрын
I've been doing this for ages 😅😅😅
@botsareeverywhere
8 ай бұрын
So you hire a few employees in Barbados at low wages and they’re in the clear?
@oliver_958
4 ай бұрын
Please do something similar for self-employment
@timebroua
29 күн бұрын
Just leave Canada or US in favor other country where tax isn’t theft.
@PatHaskell
7 күн бұрын
You should be a hand model.
@rickswineberg
2 ай бұрын
Expect the IRS at your door.
@harrynelson9203
Жыл бұрын
The profit is 100% reasonable, let the company make their money
@EdwardCheung1
Ай бұрын
So if the Barbados company has employees, assets and IP (maybe), this plan will fly?
@highgatehandyman6479
7 ай бұрын
Great chanel. Please go more onto depth
@Melisse888
10 ай бұрын
This is such a useful channel - do you give tax advising as well? I need you brains as an entrepreneur in EU.
@idealess718
10 ай бұрын
bro ur handwriting is so tidy lol my handwriting is barely readable
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