Hi,
those who withdraw income from PIPS to their home bank account, sooner or later will have to pay taxes to their homeland on this income. It has been said that, over here (Belgium),
- I'll only have to pay for the money that actually hits my bank account (in my country)
- I must inform the administration about $$ invested/in accounts in other countries - to which apply the regulations of that foreign country.
With the restructuring going on, I might come too soon with this question (then please tell me and I might delete this post & thread). If not, can then please anyone
1. explain in which country our money actually resides: Maleisia?
2. explain how much % we have to pay (and on the compounding capital or on withdrawals only) and/or
3. provide link(s) to official websites/pages where this info can be found?
Thank you,
Hasse
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24-11-2005, 05:10 PM #1
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Taxes: where does our money reside & what are the tax regulations over there...
Last edited by Hasse; 24-11-2005 at 05:12 PM.
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24-11-2005, 06:39 PM #2
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24-11-2005, 07:36 PM #3
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Thanks jog...
For those interested: these are excerpts, with what I found most useful marked in bold.
Originally Posted by steven_copy_from_old_forumPIPS Inc. (Incorporated in Panama) is a group of companies. PIPS Inc., is the holding company with a share in the others. It secures all approval documents from various jurisdictions and controls how funds are to be invested, but does not hold cash.5. PIC Trust, licensed in New Zealand, where there is 100% anonymity, 0% tax, and where members of PIPS will be able to set up trusts and IBC's. Has a Board of Directors that oversees the trust operations. They hold all the company cash and invest the funds at the direction of the holding company (PIPS Inc.).The Companies in brief and the Country of Registration:
(...)
5. PIC Trust 5YTP..........................New Zealand
6. PIPS Financial Services..............Malaysia
7. Picpay.......................................Malay sia
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26-11-2005, 12:59 PM #4
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For Belgium
Hi,
I had to remember some element before aswer your request.
I've heard that for belgian you have to pay 15% taxes on your returns only.
To have an legal answer you can ask your "financiƫle openbaardienst" office near your home.
I think that they can give you the more accurate informations.
See You,
Patrick
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26-11-2005, 02:29 PM #5
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Good old Uk you're taxed at a great rate of 40% once you're over 28k earnings I believe or something close to that.
Be spending more and more time in Portugal or Spain when the time comes.....Zubaidi:Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states.
Shabibi:The bank wants as a means to affect the economic and monetary policy by making the dinar a valuable and powerful.
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26-11-2005, 04:38 PM #6
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Tax rates
Hi Adster,
The tax rate I gave is only for return of investment, but I'm not sure that pips ROI will enter under this.
In other hand, our tax rates in Belgium is also high and can go as high as 50% of your incomes. Plus we have other taxes : car driving tax, car immatriculation tax, tax for rubbish, and so on.
For company, if I've a good memory, there was a tax for motor-forces. So every machine that you'll used to make goodies, you've had to pay a tax.
Now, in the computer era we live in, I think that our government take taxes on number of computers the company use.
We usally said, in Belgium, that if it continue like this, they will install a taxcollector directly near the w-c, so you have to pay for using it :-)))
You see, we also have to work hard to pay all our taxes before thinking eat and make some present at our children.
See you.
Patrick
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26-11-2005, 04:41 PM #7
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clapat,
Isn't the Capital Gains Tax 0% in Belgium? What someone said on another forum...Zubaidi:Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states.
Shabibi:The bank wants as a means to affect the economic and monetary policy by making the dinar a valuable and powerful.
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26-11-2005, 04:55 PM #8
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For shares
I think that it is only for return from shares.
And I've no remembrance that pips members had share with their investment.
So I gave here the rate that I had in mind.
Patrick
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26-11-2005, 05:19 PM #9
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OK but how are we going to get the money in our bank accounts ( big money from PIPS ) without the bank frezing our accounts.
That's what I realy want to know?
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27-11-2005, 12:39 AM #10
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R-return
O-on
L-loan
In most areas loan repayments are not taxeced
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