I am regularly following discussions about offshore companies in Internet forums and at conferences. Examples given are usually prominent members of society or other public figures who have escaped taxation through a letter-box company in for example Panama. And they manage to do so even though their entire business activity is carried out in their country. I am not going to elaborate on any specific cases, as I cannot be prejudiced due to lack of factual evidence, but we can assume that often the constituent elements of tax evasion are present.
The office of Dr. Werner & Partner is against such practice. We have seen advertisements of some other service providers who advertise carrying out normal business through an offshore company. However, in 99% of the cases this is not possible in the UK without being guilty of an offence. I would like to make clear that we do not support exploitation of existing legal systems for the purpose of tax evasion. Our aim is rather to provide regular, legitimate and legally sound solutions that are based on European legislations and case law.
We live in a united Europe that not only offers a common currency, but also many other liberties, among them the freedom of establishing a company. This gives companies the opportunity to set up a company in Malta and conduct their business from the island. As the company is effectively doing their business in Malta, they will be liable to pay taxes in Malta, and according to the double tax treaties between Malta and many other countries, they will not have to pay taxes in other countries.
I am aware that many facts are mixed up in a lively discussion, and that having a company in Malta is generalised as being the same as an offshore company. This is a fact that I can rectify in conversations with our clients. However, it is important to rely on facts with regards to tax evasion, as only facts can allow an objective consideration. I am also against tax evasion, but I find that using the advantages and liberties that the EU offers is legitimate and reasonable.
