CFC’s new anti-tax avoidance provisions are on the way
2024/10/17 Thu.
Timeless International Family Office (15F-2, No. 156, Section 3, Minsheng East Road, Songshan District, Taipei City)
Timeless International Accounting Firm
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- What are CFCs? Under what circumstances are they subject to tax?
- CFC income tax calculation and filing methods
- Common CFC types
- Impact and issues on individuals and businesses
Information
- 【Date】202410/17
- 【Time】14:00~16:00 (admission opens at 13:30)
- 【Location】Timeless International Family Office (15F-2, No. 156, Section 3, Minsheng East Road, Songshan District, Taipei City)
Case Study
Entrepreneur Ms. Li
- Tax Residency: Taiwan
- Family Background: 55-year-old individual, 45-year-old spouse, with two children
- Family Situation: The wife is a homemaker residing in Taiwan. The two children, aged 18 and 21, are studying abroad in the United States.
- Motivation: Mr. Yang was unfortunately diagnosed with a stroke. He is concerned that in the event of an accident, his wife and children, who lack the ability and experience to manage assets, will be unable to ensure their financial well-being. At the same time, transferring all assets would also involve various heavy tax burdens.
- Types of Assets: Real estate in Taiwan and China, stocks, and cash
Solution
- Arrange for Timeless accountants and professional consultants to further understand Mr. Yang's assets, conduct tax planning, and optimize asset allocation.
- Establish an offshore trust for estate planning. Mr. Yang will be the settlor, the protector will be his wife, and the beneficiaries will be his wife and two children.
- Transfer cash and stock assets into the trust to avoid inheritance tax on ownership transfers both during life and upon death.
- Customize a fixed-income growth plan to provide for the family’s future financial security, alleviating the future financial burden on the wife.
- Each beneficiary will be issued a trust asset-backed credit card, which can be used for global payments, including living expenses, education fees, and purchases of related financial products or service fees.
