Things to do in NYC

Date: 22nd July 2016
Now Thats What I Call Music
Now thats what i call musicIt has always been the main goal of most companies establishing business and investments in foreign countries to maximize their profit, that?s undeniable. Now, one way by which overseas corporations can make the most out of their investments is to save on tax. They can do this by establishing a business in the US or UK and making a profit since profit cannot be taxed. "Now That?s What I Call Music" has been released in the UK and Ireland by various artists and has sold over a hundred million albums globally since its launch in 1983. It has been said that "Now That?s What I Call Music" series of compilations was derived from an advertising poster for Danish bacon featuring a pig saying "Now."?It is important to understand what a controlled foreign corporation (CFC) is for this matter. CFC is defined as a corporate entity which does business in different country other than the residency of the controlling owners. In the case of the US, control of the overseas company is based on the percentage of shares owned by citizens of the country.?It is said that when an investor establishes a company in the two countries mentioned above, the more a foreign company earns, the more tax saving effect it gains. These businesses can be in the form of investments via online brokers, export and imports, online payment such as Paypal and Skrill, and other businesses via foreign financial institutions. Some of the benefits of this method for overseas companies include zero corporate tax, inheritance tax avoidance, and CFC exemption. Some of the countries adopting CFC include Argentina, Australia, Brazil, China and France. However, there are also disadvantages of this method such as the requirement for sufficient income and assets, incorporation costs and annual maintenance costs, and non-avoidance to sales tax such as value-added tax (VAT). This also does not allow withholding of dividend such as stocks, but can do avoid capital gains tax.?Because of online businesses, a businessman need not visit the country when setting up a company and opening a bank account as these can be easily accessed online by mailing, only that there has been some difficulties due to money laundering regulation. These are only a few of the advantages of online business and investment. For instance, when I work as a freelance writer online, I do not have to go to my employer?s country to open a bank account and receive my compensation from there. I just need to sign up an account through Paypal or Skrill in order to get paid by my employer. Now that?s what I call music to my ears. Everything has been made possible and convenient because of online businesses and investors. Now that?s what I call music to everyone?s ears especially to those who are working for employers abroad.?
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