As it turned out, not only Singapore began to establish order with tax reports, but also Cyprus. More recently, ELTOMA received a summons to a Cypriot court on a nominal director for the fact that the Cypriot company had submitted tax returns to 2011 and 2012. The Cypriot nominee director is asked to appear in court and explain why the reporting was not timely filed. The only thing in Singapore 2011 and 2012 years have long been dismantled.
All this suggests one thing, that taxes will have to be paid at the location of the offshore company, and other options, much less the loopholes, as it used to be.
Nevertheless, businessmen can not change so quickly, because an offshore company is first and foremost associated with the fact that the tax burden will be reduced to a minimum and the rhetorical question that, they say then it is better to pay taxes in Russia or Ukraine, we do not answer in any way We can! If you think it's better - pay! Here everyone decides for himself what to do in life and where to pay taxes. ELTOMA stands on those positions that do not help to avoid or evade taxes, the purpose of their business is to help to conduct international business with the least expenditure and clearly complying with all laws!
For itself, ELTOMA concluded that the industry of offshore companies will shrink by another 30% -40% by the end of 2018, but that's another story.