- Joined
- Jan 2018
- Messages
- 11,922
Humm....why did you form a Malta company? Secondly do you have a Malta bank account? Malta companies have high tax. You only benefit from the effective 5% tax rate if it has foreign ownership and to get the tax rebate you must have a Malta bank (IBAN) account not a foreign bank account. Leupay since it left Malta does not offer Malta bank account IBAN's but Bulgarian ones :-( Leupay is useless for Malta based companies now to benefit from full imputation tax. You would need to open with Satabank unless you don't care about the full imputation tax and are happy with 35% corporate tax rate.
EPB won't report automatically at this stage but with US about to be blacklisted by EU anything could happen. EPB is also a big target for tax authorities as it moved from St Vincent to Puerto Rico and promotes on its website that is does not report. This is a red rag to a bull. If they had to report then expect them to have to report at least the last calendar year but this is slim. You may want to consider a tax amnesty if it is available in your country. The worst that could happen is years from now the U.S strikes some agreement to handover EU account holders going back X years - very slim chance though with Trump anti-EU stance but you never know what he could agree...lol. He is a business man after all.
In terms of moving the money from old company account at EPB to new company you could apply for a capital increase in the Malta company and transfer the money from EPB to Malta company as its capital. The issue is at this stage is you will not be able to sleep at night. If anything happens to EPB they can trace funds to your new company. In fact all wires can be traced from EPB's SWIFT BIC.
