There is not clear an explanation what tax haven means however according to OECD it’s a country doesn’t follow the 4 criteria.
OECD (Organisation for Economic Co-operation and Development) has made a list of the most important criteria it considers when determining whether a jurisdiction is a tax haven or not.
These criteria (according to OECD) have been specified as follow:
1. no or nominal tax on the relevant income;
2. lack of effective exchange of information;
3. lack of transparency; and
4. no substantial activities of the taxpayer in that jurisdiction, (2) together referred to as OECD Tax Haven Criteria.)
OECD has formulated following groups where 84 jurisdictions have been assessed:
While List – jurisdictions that the OECD does not consider as tax havens.
Grey List – jurisdictions have partly implemented the OECD International Tax Standard.
Black List – no tax cooperation, there are currently no black list countries.
With the clock striking 12 o’clock on the 31st December you start expressing you joy and happiness to welcome New Year. Ever since you will have 8760 hours to register company with us. Startupr wishes you good luck with your newly incorporated company in the year 2012!
Type of share capital: We might say that company share capital refers to the amount of a company’s equity that has been gained by trading stock to a shareholder for cash or another item of capital value. The amount of share capital might be changed anytime the holder want. To issue new shares and sell to the the public or to another business partner in exchange for the cash.
We can divide the share capital as:
Authorized Share Capital – or registered capital is the total amount allowed to issue (or Authorized) to its shareholders.
Issued Shared Capital – this is the real amount of shares being issued to its shareholders. Issued Shared Capital might be lower than the Authorized Share Capital.
Subscribed Capital – is a share capital which has been issued (sold) as shares-whether their purchasers (shareholders) have paid for them or not.
Called up Share Capital – this type of share capital needs to be paid.
Paid up Share Capital – is the amount of share capital paid by the shareholders.
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