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FOC, Foreign Operating Corporation, Calculation of Deemed Dividend  Form

FOC, Foreign Operating Corporation, Calculation of Deemed Dividend Form

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we are now in 2020 we go two years back 2018 my after tax profits were saved 100 000 I was not asked nor I did want to pay any dividends so I had 100 worth of profits available for dividend distribution two years down the line I'm obliged to pay 17 on the 70 percent of this 100 000 which mathematically comes to 100 000 worth of profits multiplied by 70 percent which is 70 000 worth of profits multiplied Again by the applicable dividend tax which is 17 percent oh [Music] the point that we observe about taxes is a dim dividend tax for those of you who are Cyprus tax resident but non-domicile or who do not the shareholders that you receive dividends from Cyprus companies and you are not physically in Cyprus or you are not tax resident Cyprus you can ignore this point simply because you don't pay special defense tax special defense tax applies on dividend income for cypriots for Cyprus tax residence and domicile then dividend income is something that many businessmen want t

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