Tax Expert Reacts: International Tax Competitiveness Index
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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....
#internationaltax #tax #lowtaxcountires
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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
They were only doing OECD countries
And yes we probably should do one
Why Paraguay and UAE are outside that list? That list is way wrong. I do not see Monaco either. Forget that list.
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.
Great suggestion will do
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. 😄
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! :)
Thanks for the support!
Anything you'd add to this list?
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
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).
Why would the Tax Foundation bother even putting this together without including the countries we know are great for tax competitiveness.
Perhaps to "lure" in those who don't care or don't know any better.
It's only OECD countries
Not Bulgaria or Romania in the ranking??
Thanks Lord Michael 🙏
So tax free countries not on the list? 🤔
The International Tax Competitiveness Index applies only to OECD countries. Malaysia, Hong Kong, United Arab Emirates are not OECD countries.
Yes that's part of what's deceptive about it
How did Israel get into the list?
Where is Cyprus from the list?
Why is Georgia missing? 🤣
Not OECD
make a video about egyptian citzenship and their tax system. include also saudi arabia premium golden visa. thanks!👍😉
What do you think makes Egypt and Saudi Arabia attractive?
@@OffshoreCitizen real estate investment roi air bnb both for egypt new city and saudi new city
I think that list was an April fools day joke, obviously released early by mistake.
Can you comment on the tax situation in Panama
It's pretty good but not the best
Thanks again, for this interesting content. All the best from Zürich
Thanks for the support!
How did you like our list?
@@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 :)
@@Funky420Infotainment Nothing is missing. The International Tax Competitiveness Index applies only to OECD countries.
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.
That's the goal, thank you for the support!
What other resources do you use?
@@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.
Great video as usual, maybe a video about countries with benefits for newcomers could be great.
Thanks for the suggestion!
What makes you interested in that topic?
@@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
What do you think of Jersey? Is it a better choice than the UK for an individuals Being taxed on their personal foreign income?
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.
@@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.
@@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.
NZ also has some real nasty tax nets aswell, 'provisional tax' is just simply awful
Are you in NZ? Have you seen our video on New Zealand?
@@OffshoreCitizen I watch alot of your videos, not sure which one ? I was born and raised there and lived there until recently - moved to Australia