Do you ever have your annual "Freedom day"?
Unfortunately, very few of us think over the fact that the most of our personal time we spend on paying off the obligatory payments to the state budget. It may seem to sound strange, but you can see it for yourself by means of a simple arithmetic addition. If you will try to sum the various fees and taxes, including VAT, capital taxes and income taxes, the result will be more than a half of your income.
It is hard to escape a conclusion that the first half of the year you work absolutely for free, just in order to pay all the obligatory fees and taxes. Only after that, you can work for yourself. Thus, the Freedom Day may come, after the payment of all taxes, from the moment of starting collecting the net profits.
If to consider such a “free” date in the context of the various countries, the starting date varies notably. It is characteristic of many well-developed countries that such a date may come in the middle of the year, or even later.
It turns out that the person does not gain freedom even after the completing of his career and after retirement. That is because, he is not exempted from the obligation to pay taxes on all income, including dividends and interests on banking deposits, securities, rent income, etc.
The obligation of paying taxes arise from the rules of civil education and the desire to avoid violation of the applicable fiscal legislation. However, there are effective tools that enable one to stay within the legal framework, and, at the same time, to optimize all the obligatory payments to the budget.
The jurisdiction of the United Arab Emirates, where the maximum comfort and residence safety are provided, can be considered as an example. Thus, you can move your Freedom Day to the beginning of a year, by making use of opportunities of the current corporate legislation of the UAE.
It should be noted that all the possibilities, which are offered in a given jurisdiction, are perfectly legal and do not violate norms of the international law. Provided the knowledge of the current legislation, you can choose the most profitable model of building a business scheme for your business.
We, in our turn, are ready to be your guide to the financial independence. Use the contact us form and learn how to start every year with a holiday called "Freedom Day".