finanzen.net
21.03.2019 05:00
Bewerten
(0)

EY Report Reconfirms Citizenship of St Kitts and Nevis Is Not Residence - CS Global Partners

DRUCKEN

LONDON, March 21, 2019 /PRNewswire/ -- St Kitts and Nevis'Citizenship by Investment (CBI) Programme does not promote tax avoidance or evasion, a report published last week by the multinational accounting firm Ernst and Young (EY) concluded. The report notes that "citizenship should be distinguished from tax residence" since the obligation to pay taxes is "built around the degree of personal socio-economic links with a country", rather than one's citizenship status. 

EY provides four primary tests to establish tax residency, which it draws from the OECD Model Tax Convention on Income and on Capital. These are: having a physical presence in a country for a minimum amount of time, for example just over half the days in the year; having a permanent home available in a country; having a centre of vital interests there; and having a habitual abode in a place, such as staying in a country as part of an individual's settled routine.

St Kitts and Nevis refers primarily to common law jurisprudence in its determination of who is and is not liable to tax. This has resulted in the Federation looking at an individual's degree of permanence and continuous physical presence and, in practice, in an evaluation of whether the individual has spent a minimum of six months in an income year in St Kitts and Nevis, and whether St Kitts and Nevis is his or her permanent home.

The EY report clearly sets apart citizenship and tax residence, which is reflected in its determination of whether CBI programmes, such as that of St Kitts and Nevis, should cause concern as regards tax reporting under the Common Reporting Standard (CRS) and the circumvention of tax obligations to third countries. It states: "citizenship is a concept distinct from tax residency. Citizenship should not give rise to tax avoidance and evasion opportunities, as the reporting rules are explicit in not using citizenship as a test."

The St Kitts and Nevis CBI Programme can grant entrepreneurs and their families second citizenship in return for a contribution to a national development fund known as the Sustainable Growth Fund, which was introduced last year by Prime Minister Timothy Harris and is thought to be the most straightforward route to St Kitts and Nevis' citizenship. The Programme prides itself on operating at an industry-recognised Platinum Standard and on its decades of experience in granting eligible applicants second citizenship. Established in 1984, the St Kitts and Nevis CBI Programme is the world's longest-running and has pioneered many of the best practices used by other countries that operate CBI programmes today. Indeed, St Kitts and Nevisrecently became the first Caribbean CBI jurisdiction to operate a digital fingerprinting system. St Kitts and Nevis does not operate a residence by investment programme, nor is there any intention to establish one in the future.

Contact: pr@csglobalpartners.com

 

Cision View original content:http://www.prnewswire.com/news-releases/ey-report-reconfirms-citizenship-of-st-kitts-and-nevis-is-not-residence--cs-global-partners-300815961.html

SOURCE CS Global Partners

Anzeige
Anzeige
Börse Stuttgart Anlegerclub

Die richtige Strategie für die Börsenkrise

Stecken Sie nicht den Sand in den Kopf, sondern kaufen Sie die richtigen Aktien. Erfahren Sie im aktuellen Anlegermagazin mehr über attraktive Qualitätsaktien und zyklische Aktien
Kostenfrei registrieren und lesen!

Heute im Fokus

DAX zieht an -- Gewinnmitnahmen bei Wirecard-Aktie vor Ende des Leerverkaufsverbots -- Daimler wohl vor Jobaubbau -- Senvion, Deutsche Post, Pinterest, OSRAM im Fokus

Huawei bietet Deutschland 'No-Spy-Abkommen' an. Reifenhersteller-Aktien schwächer: Marktdaten von Michelin belasten Continental & Co. Lufthansa nimmt mit Schuldscheindarlehen 800 Millionen Euro auf. Goldman-Abstufung drückt Nordex-Aktie ins Minus. Pernod Ricard rechnet mit mehr Gewinn. Amazon beugt sich in China der Übermacht von Alibaba & Co.

Top-Rankings

KW 15: Analysten-Flops der Woche
Diese Aktien stehen auf den Verkauflisten der Experten
KW 15: Analysten-Tops der Woche
Diese Aktien stehen auf den Kauflisten der Experten
Die Performance der Rohstoffe in in KW 15 2019.
Welcher Rohstoff macht das Rennen?

Die 5 beliebtesten Top-Rankings

Die beliebtesten Arbeitgeber in Deutschland
Hier gibt es die beliebtesten Jobs
Die zehn größten Kapitalvernichter
Hier wurde am meisten Anlegergeld verbrannt
DIe innovativsten Unternehmen
Diese Unternehmen sind am fortschrittlichsten
Das hat sich geändert
Diese Aktien hat George Soros im Depot
Diese Aktien hat Warren Buffett im Depot
Einige Änderungen unter den Top-Positionen
mehr Top Rankings

Umfrage

Wirtschaftsminister Peter Altmaier (CDU) sieht sich derzeit starker Kritik ausgesetzt. Zu Recht?

Online Brokerage über finanzen.net

finanzen.net Brokerage
Handeln Sie für nur 5 Euro Orderprovision* pro Trade aus der Informationswelt von finanzen.net!

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Wirecard AG747206
Apple Inc.865985
TeslaA1CX3T
Netflix Inc.552484
Facebook Inc.A1JWVX
Alphabet A (ex Google)A14Y6F
Intel Corp.855681
TwitterA1W6XZ
GoProA1XE7G
CommerzbankCBK100
Daimler AG710000
Deutsche Bank AG514000
BASFBASF11
BYD Co. Ltd.A0M4W9
Volkswagen (VW) AG Vz.766403