The Taiwanese version of the CRS for oily coffee is expected on the road in 2019. Taiwan officially joins global anti-tax avoidance. The distribution of profit or distribution of people's resources inside and outside the country will be rigorously tested, and an accountant proposes three steps for the financial review of CITIC Bank also resembles customers. An early examination of the financial situation of individuals or companies and the proper use of financial resources such as insurance policies and trusts to remind the public to prepare family property in advance not only allows wealth to be passed on to future generations, but also avoids tax risks.
With the Common Standard Reporting Standard (CRS) becoming guidelines for banks in all countries, the Taiwanese version of the Fertilizers Regulation, which was planned by the Ministry of Finance of the Republic of China, will be launched next year. It is expected that financial institutions will apply for the first time in June 2020. 9 For the first time, exchange information on the financial account for the month.
Through the exchange of information, the global financial account of a high-income family will be invisible. Guo Zongming, deputy director of accounting firm Kicheng United, proposed three steps to the financial review: First, analyze investments for almost 5 to 7 years and review income. Second, they apply to a financial institution or prepare appropriate remittance documents and keep a verification statement. Third, if there is a large amount of choking and income abroad for a period of 5 to 7 years, there is a tax risk. You should consult a financial expert as soon as possible in order to confirm that the relevant practices are innocent.
Global taxation becomes more transparent. In addition to examining the financial situation of individuals or companies, CITIC Bank recommends that in accordance with tax harmonization, family tax plans are established. The complex inheritance of wealth should be considered more and it is little worth paying for excessive taxation or provoking family disputes. Most buyers face the inheritance of wealth, cares that their children will acquire wealth in a timely manner, but they do not have the capacity to ripe financial management and do not use an adequate gift of 2.2 million NT per year, which can lead to a high inheritance tax in the future.
Regarding the choice of wealth management tools, CITIC Bank said that the family confidence plan can be based on the time when a client wants to transfer (including pre-natal gift or inheritance), consider the career phase of family members and provide appropriate solutions. In addition, in cases involving different family assets and more family members, CITIC Bank can also adjust trust plans such as "Trust, Insurance and Property Land" to establish a life-cycle platform for the inheritance of trust.
By taking the insurance insurance scheme as an example, through a trust mechanism, parents can be appointed as trust supervisors, retain trust management, and exercise the right to change, break, and terminate trust. Children have the right to use trust in insurance, and according to confidential possession, they can also agree on a time-out to ensure that they pay to the user, such as paying tuition fees, paying property taxes, paying marriages or maternity, etc., so that property is actually planned according to the will of the parents.
CITIC Bank also recalled that regardless of which types of financial management tools are selected, it can be combined with a $ 2.2 million annual gift to formulate a plant protection plan in advance, and a new generation will participate in the process and conducts financial education in a timely manner.
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