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]]>It seems that this city helps its residents multiply their wealth. And financial advising firms play a major role in achieving this aim. By sharing their experience and expertise with clients, they show them the way to wealth and prosperity. Find out how to choose professionals who know how to arrive at prosperity from hundreds of financial consulting firms.
Achieving financial success depends not only on a balanced investment portfolio or finding a suitable market niche for your business. It is based on the ability to distinguish between promising investment or business projects and unprofitable ones. This also applies to the ability to distinguish between professionals in economy and finance and those who pretend to be such specialists.
Like any market, the financial advisory services sector is filled with a variety of companies:
To find real professionals among this diversity of advisors, you will need to compare all potential candidates by significant indicators. They will tell you how close the company is to the ideal financial advising firm that can help you.
The first thing you need to decide is what type of company you should contact for financial advisory services. If you have a large capital, you will need a company with wealth management experience. For example, the solid expertise of Certuity Company guarantees an effective wealth management strategy tailored to your needs. And if your goal is to earn your first million, you can contact a financial coach or planner. Here are just some types of financial advisors that you can find in the advisory services market.
Type of the advising company | Main functions | Payment for services |
Investment Advisor | Investment advice and investment portfolio management | Annual advisory fee, the size of which depends on the size of assets under management |
Financial Planner | Professional advice on budgeting, savings, insurance coverage, retirement planning, etc. | Fee-only payments or fee-based payments + commission from some recommendations |
Wealth Manager | Comprehensive service for high-net-worth individuals and ultra-high-net-worth individuals. All the above functions plus estate planning, philanthropic planning, and other tasks important for wealthy families | Annual advisory fee, the size of which depends on the size of assets under management |
Robo-Advisor | Automated investment portfolios solutions, formation and rebalancing of investment portfolio | Advisory feed in accordance with tariff plans |
New York is home not only to millionaires and billionaires but also to financial consulting companies. They help you see promising business and investment opportunities, reduce tax liabilities, choose the right insurance coverage, etc. With their help, you will understand the laws of capital growth and subsequently not need their advice. But to achieve financial success, choose proven and reliable companies with a solid client base and good recommendations. Only in this case, all your investments will give tangible profits and take you to a new level of prosperity.
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]]>The post New and Traditional Family Office Services for High-net-worth Families appeared first on CFE-EUTAX.
]]>High-net-worth families can contact the FOs for other reasons as well. For example, someone receives a large inheritance and does not know how to properly manage the assets to at least preserve them. Still, in some families, there is simply no member willing to take responsibility for managing all financial affairs. There are many reasons why clients turn to the family office. But for each of them, specialists from FOs select the best solutions that can protect their assets and open up new prospects for growth.
Family Office Development Under the Influence of New Technologies
In their current format, family offices appeared in the United States at the end of the 19th century due to the emergence of a large number of entrepreneurs and industrialists. Their main function was to assist in the effective management of wealth and organizing various events, including participation in philanthropic activities, fundraising for charity, etc. Over many decades, the functions of the family office have changed, which confirms the value of its mission. However, under the influence of the digital revolution and other factors, the range of services provided by financial institutions began to expand. The high net worth family office with solid experience Certuity Company – https://certuity.com/family-office/ notes significant changes in client requests. Let’s compare the traditional functions of the family office and the new additions that are increasingly being offered to clients.
Traditional Functions of a Family Office | New in Family Office Tasks |
Family governanceInvestment strategiesRisk managementTax and estate planningPhilanthropyOrganization of various eventsPreparing the younger generation to manage family affairs | Globalization of investmentsAlternative InvestmentsInvestments in crypto and other digital assetsUsing AI and ML for more comprehensive analysis and investment forecastingSupporting a positive image of the family in the media Cybersecurity |
In addition, as Josipa Majic Predin notes https://www.forbes.com/sites/josipamajic/2024/01/11/the-rise-and-rise-of-the-family-office-an-analysis/?sh=13b59f2e12ed , the functions of the family office are changing under the influence of demographic shifts. As millennials and Generation Z get older, the investment landscape is changing based on their priorities. Many rich families put sustainability, social impact, technology development, etc. at the forefront rather than making a profit.
Family offices as an institution experienced a renaissance in the 1980s and began to spread throughout the world at the beginning of the 21st century. These processes go hand in hand with changes in economics and finance under the influence of globalization. If earlier, investments in remote regions were rather an exception, today, many high-net-worth families want to participate in investment projects in various countries. Some of them are driven by the desire to support the development of other regions, others want to develop new markets, and others are looking for new investment solutions against the background of overheating of the domestic economy.
Globalization of investments opens up great opportunities and poses new challenges for family offices. This demands immersion in the international tax complexity, the political situation of other countries, and much more. Family offices successfully cope with this task and offer their clients a new perspective on the possible and impossible in the field of investment.
There is also a growing demand for alternative investments, which are offered by family offices as additional ways to invest capital. They are characterized by less liquidity but higher profitability and also allow wealthy families to realize their investment ideas. For example, this could be investments in start-ups, technology, infrastructure, art, etc. Certuity Company is an expert in the field of alternative investments. The company offers its clients a broad opportunity set for different asset classes. But it is always ready to expand this list if high-net-worth families have any special wishes.
Commitment to responsible investing has become another significant trend in changing the activities of family offices. This is largely due to a generational shift in rich families. While heads of households in the 20th century prioritized increasing the wealth of their families, the new generation of affluent people is increasingly thinking about environmental issues, social impact, etc. This poses new challenges for family offices. Clients often ask them to offer highly profitable projects and projects that take into account environmental, social, and governance (ESG) factors.
The list of services provided by family offices for high-net-worth families changes as society evolves. Many functions remain unaltered, such as family governance, investment portfolio management, tax and estate planning, risk management, philanthropy, etc. But they are filled with new content depending on the generational demands of wealthy families and the current public agenda. In addition, new technologies significantly impact the work of family offices. They expand the capabilities of FOs by providing new technological tools and create new risks. Therefore, new specialists appear on the staff of family offices. For example, these are cybersecurity professionals who protect the security of customer data from possible cyber attacks.
The future of family offices looks exciting. Perhaps by the end of the century, they will differ from today’s FOs as much as modern family offices differ from similar companies of the late 19th century.
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]]>The post Navigating the Complex Landscape of European Tax Regulations: A Comprehensive Guide appeared first on CFE-EUTAX.
]]>Key elements contributing to this complexity include:
Understanding this intricate network is essential for anyone engaging in cross-border activities within Europe. It requires a keen eye for detail and a proactive approach to stay abreast of the latest changes.
The European Union plays a pivotal role in shaping the tax policies of its member states. While taxation is primarily a national competence, the EU seeks to ensure that national tax rules do not conflict with EU policies and principles, such as the free movement of goods, services, capital, and people. The EU’s influence is exerted through various means:
The EU also combats harmful tax practices through initiatives like the Anti-Tax Avoidance Directive (ATAD) and public disclosure rules for multinationals (Country-by-Country Reporting). These efforts are designed to create a fairer, more transparent tax environment, but they also add layers to the already complex tax structure within Europe.
Navigating EU tax regulations requires a strategic understanding of both national and EU-level tax legislation. Entities operating in Europe must consider how EU directives will affect their tax strategies and ensure they are in full compliance with both sets of regulations.
For businesses operating within Europe, staying compliant with tax regulations is paramount. The primary concerns include:
Businesses must also stay informed about the Anti-Tax Avoidance Directive (ATAD), which aims to prevent tax avoidance practices and ensure taxes are paid where profits are made. Additionally, the complexities of transfer pricing and Country-by-Country Reporting require meticulous documentation and reporting to avoid penalties.
To navigate these concerns, businesses should:
Understanding and managing these key tax considerations can help businesses avoid costly errors and penalties, while also taking advantage of available tax benefits.
VAT is a significant aspect of the European tax system, and understanding it is crucial for businesses. Here’s a guide to navigating VAT in Europe:
Businesses can benefit from leveraging VAT management software or consulting with tax professionals to ensure accurate compliance and to navigate the intricacies of VAT within the European market. By doing so, they can minimize the risk of errors and make the most of potential VAT recovery opportunities.
When it comes to corporate taxation, Europe presents a patchwork of rates and regulations that can significantly influence business decisions. Here’s a comparative glance at the corporate tax landscape:
These variations can impact where companies choose to establish their headquarters or subsidiaries. For instance, tech giants may favor Ireland for its low rates, while a company prioritizing a skilled workforce might opt for Germany despite higher taxes.
To navigate this complex terrain, businesses must:
A strategic approach to corporate taxation can lead to significant savings and a competitive advantage in the European market.
European countries offer a range of tax incentives and reliefs designed to attract investment and promote economic growth. These can vary widely, but some common examples include:
Businesses looking to maximize their tax efficiency should consider:
Understanding and utilizing these incentives can not only reduce tax liability but also support business innovation and expansion. However, it’s crucial to navigate these options carefully, as improper use can lead to disputes with tax authorities. Seeking expert advice is often a prudent step in leveraging these tax benefits to their fullest potential.
Double taxation is a hurdle for many businesses and individuals with cross-border activities in Europe. It occurs when the same income is taxed by two different jurisdictions. To mitigate this issue, one can employ strategies such as:
To effectively avoid double taxation, individuals and businesses should:
By strategically using these tools, one can navigate the complexities of European tax systems and minimize the impact of double taxation.
Brexit has significantly altered the tax landscape for both the UK and EU countries. The departure of the UK from the EU has led to changes in the way businesses and individuals approach taxation, including:
Businesses and individuals must adapt to these changes by:
Brexit’s tax implications are far-reaching and complex. Entities affected by these changes should stay informed and consider seeking expert advice to navigate the post-Brexit tax regime effectively.
Navigating the European tax landscape necessitates strict adherence to compliance and reporting requirements. Taxpayers must be vigilant in their documentation and aware of the deadlines to avoid penalties. Key aspects of compliance include:
Taxpayers should prioritize the following to ensure compliance:
By proactively managing compliance and reporting requirements, taxpayers can minimize the risk of non-compliance and position themselves for financial success in Europe.
The digital transformation of tax systems across Europe is revolutionizing the way businesses and individuals comply with tax regulations. Digitalization efforts aim to simplify tax administration, increase transparency, and reduce the likelihood of errors and fraud. Key developments include:
The impact of digitalization on tax compliance includes:
Taxpayers should embrace these digital advancements by:
Digitalization in European tax systems is an ongoing process, and staying ahead of the curve can provide significant advantages in terms of compliance and operational efficiency.
Navigating European tax regulations requires strategic planning to optimize tax efficiency. Both businesses and individuals must understand the tax implications of their operations and investments in Europe. Here are key strategies to consider:
To implement these strategies, one should:
By adopting these tax planning strategies, businesses and individuals can navigate the European tax landscape more effectively, reducing their tax liabilities while remaining compliant with all regulatory requirements.
When tax disputes arise, there are several avenues available for resolution. It’s important to handle these disputes diligently to prevent escalation to litigation. Here are steps to address tax disputes in Europe:
To navigate tax disputes effectively:
Resolving tax disputes in Europe can be a complex process, but with the right approach and professional guidance, it is possible to achieve a satisfactory outcome while minimizing the impact on your operations or personal finances.
The landscape of European tax regulations is subject to change as governments seek to adapt to economic challenges, technological advancements, and international pressure. Anticipated future trends in European tax policy include:
Challenges that may arise with these potential reforms include:
To keep up-to-date with the evolving tax regulations in Europe, several resources are invaluable:
Leveraging these resources can help businesses and individuals navigate the complexities of European tax regulations effectively.
Successfully navigating the complex landscape of European tax regulations is crucial for businesses and individuals engaged in cross-border activities within the continent. To avoid costly penalties and to take advantage of potential tax benefits, it is essential to have a comprehensive understanding of the diverse tax systems, compliance requirements, and strategic planning opportunities available within the European Union and its member states.
The key points to remember include:
In conclusion, those who invest the time and resources to understand and comply with European tax laws will be better positioned to navigate this complex landscape successfully. By doing so, they can ensure that they meet all legal obligations, avoid unnecessary fines, and capitalize on the opportunities that the European market offers.
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]]>The post The Role of Stock Brokers in Navigating Europe’s Tax System for International Investors appeared first on CFE-EUTAX.
]]>Europe’s tax system is intricate, with each country having its own set of rules and regulations that govern taxation. This complexity is further compounded for international investors who must also consider tax treaties, withholding taxes, and potential double taxation. The variations between countries can be stark, with some offering tax incentives to attract foreign investment, while others impose hefty taxes on dividends and capital gains.
For international investors, this means that the tax burden on investment returns can vary widely depending on where they choose to invest within Europe. Stock brokers, with their specialized knowledge, are invaluable in this context. They can provide clarity on aspects such as:
The role of stock brokers in this regard cannot be overstated. They provide a service that goes beyond mere investment advice, encompassing a comprehensive tax planning strategy to enhance the overall investment experience in Europe. By leveraging their expertise, international investors can not only comply with the diverse tax laws but also potentially reduce their tax liability, thereby maximizing their investment returns.
Stock brokers are not just facilitators of trade; they are also essential advisors in the realm of tax planning. For international investors looking to Europe, a stock broker’s insight can be the difference between an investment that thrives and one that is burdened by an inefficient tax strategy. Here’s how they assist:
The importance of a stock broker’s role in tax planning cannot be overstated. With their expertise, investors are better positioned to navigate the tax implications of their investment choices, ensuring that their strategies are not only compliant with the complex regulations but also optimized for tax efficiency.
In navigating the complexities of Europe’s tax landscape, the reliability and expertise of your financial intermediary are paramount. For those conducting due diligence on their brokers, determining if an entity like Exante scam or legit is crucial for ensuring that your investments are managed by a reputable and knowledgeable partner.
Double taxation agreements (DTAs) are treaties between two or more countries that aim to prevent the same income from being taxed twice. Stock brokers play a critical role in helping investors understand and benefit from these agreements. Here’s how:
Navigating DTAs is a nuanced process that requires a deep understanding of the agreements and the tax systems of the countries involved. Stock brokers, with their expertise in international tax laws, provide invaluable assistance to investors, ensuring that they are not paying more tax than necessary and that their investments are as profitable as possible after tax considerations.
Navigating the complexities of European tax regulations is a daunting task for international investors. Stock brokers play a pivotal role in ensuring compliance with these laws and regulations, which vary significantly across the continent. They provide essential services that include:
By leveraging a stock broker’s expertise, international investors can confidently navigate the European tax system, ensuring that they remain compliant and avoid penalties for non-compliance. This service is indispensable, as it allows investors to focus on their investment strategies rather than the intricacies of tax law.
Stock brokers are not only essential in ensuring compliance with tax regulations but also in constructing tax-efficient investment strategies. They guide investors through the maze of European tax laws to structure portfolios that minimize tax liabilities and enhance returns. Here’s how stock brokers add value:
A stock broker’s ability to design a tax-efficient investment strategy is a key benefit for international investors. It not only helps in reducing the tax burden but also ensures that investment decisions are made with a clear understanding of their tax implications. This strategic approach can significantly impact the overall performance of an investment portfolio in Europe’s dynamic market landscape.
By providing tailored advice and strategic planning, stock brokers enable investors to maximize their after-tax investment returns while remaining compliant with European tax regulations. This dual role underscores the importance of choosing a broker with the right expertise and a strong track record in international investing.
Brexit has reshaped the investment landscape, particularly in terms of taxation for investors. The United Kingdom’s departure from the European Union has introduced a new layer of complexity, with potential implications for withholding taxes, access to European markets, and the applicability of previous tax treaties. Here’s how stock brokers can guide investors through these changes:
In the post-Brexit era, stock brokers serve as essential navigators, helping investors to adjust their strategies to the evolving tax environment and maintain their market positions in both the UK and Europe.
In the digital age, stock brokers are increasingly turning to technology to manage and optimize their clients’ tax obligations. Sophisticated software tools enable brokers to analyze complex tax scenarios and provide strategic advice. Here’s how technology is enhancing tax management:
By leveraging technology, stock brokers can provide more precise and timely tax-related advice, enhancing the value they offer to international investors navigating Europe’s complex tax system. This technological edge is crucial for maintaining compliance, optimizing tax liabilities, and ultimately achieving better investment outcomes.
The European investment landscape is as varied as the continent’s rich history, with each nation brandishing its unique tax regime. For international investors, these differences can be daunting, and missteps can lead to unnecessary tax burdens or compliance issues. This is where the specialized local knowledge of stock brokers becomes invaluable.
Stock brokers operating within European markets possess an intimate understanding of local tax laws and regulations. Their expertise is critical for several reasons:
By leveraging the local expertise of stock brokers, international investors can confidently engage with the European market, secure in the knowledge that their investments are both tax-compliant and optimized for tax efficiency.
The true value of stock brokers is perhaps best illustrated through real-life scenarios where their intervention has led to significant tax savings and compliance for investors. Here are a few case studies that highlight their pivotal role:
These examples underscore the broker’s role as more than just an investment advisor; they are strategic partners in tax planning and compliance. Their expertise has a direct impact on the bottom line of investors, showcasing the tangible benefits of their involvement in international investing within Europe.
When selecting a stock broker to navigate Europe’s complex tax system, international investors should consider several key factors to ensure they receive the best possible guidance:
By prioritizing these attributes, investors can partner with a stock broker who will provide valuable tax-related insights and strategies, helping them to optimize their investments and remain compliant with European tax regulations.
The European tax system is ever-evolving, with potential changes on the horizon that could impact international investors. Stock brokers must stay ahead of these developments to continue offering valuable assistance:
Stock brokers will need to adapt their services to accommodate these changes, ensuring that they continue to provide strategic tax guidance and support for their international clients. By staying informed and agile, brokers can help investors navigate the shifting tax landscape and capitalize on new opportunities that arise.
In the intricate tapestry of Europe’s tax systems, stock brokers stand out as indispensable navigators for international investors. Their profound understanding of the diverse tax regulations across European countries is critical for clients aiming to optimize their investment returns while maintaining compliance. From interpreting complex tax treaties to implementing tax-efficient investment strategies, stock brokers offer a breadth of services that significantly enhance the value of their clients’ portfolios.
The key takeaways from our exploration of stock brokers’ roles in tax planning include:
In summary, stock brokers are more than just intermediaries; they are strategic partners who play a critical role in the financial success of international investors in Europe. Through their expertise, they not only simplify the complexity of cross-border taxation but also empower investors to achieve their financial objectives with tax-smart strategies. As Europe’s tax environment continues to evolve, the reliance on knowledgeable stock brokers will only intensify, underscoring their integral role in the world of international investing.
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]]>The post Top Chat Bot Development Companies 2023–24 appeared first on CFE-EUTAX.
]]>Therefore, it is not surprising that the new generation of chatbots, ChatGPT, was met with such enthusiasm and willingness to integrate it into the workflows of different industries. Companies began to look for a way to put GPT at service to increase their competitiveness. Already implemented projects from such experts in the field of ChatGPT development services as CHI Software, Intercom, Appy Pie, and others testify to their explosive popularity among users. What can developer companies offer for business in 2023–24?
The exchange of information with consumers in traditional commerce is carried out with the help of consultants or sales reps. Replacing them with artificial intelligence and teaching AI to have equal dialogues with a person was a real challenge. After all, the first chatbots appeared back in the mid-1990s, when AI-based technologies were still quite simplified.
Over the years, the development teams have made such a big leap in improvements of the AI that many users admit today that they are sometimes more interested in chatting with ChatGPT than with other people. And this is not surprising, because Artificial superintelligence (ASI), which is the next stage in the development of AI, will be much smarter and more resourceful than people. As AI Researcher Vijay Kanade notes, the intelligence of such super AI systems will be even higher than that of the greatest minds of mankind. This means that communication with such a virtual companion will provide a lot of insights and a real pleasure.
Due to the popularity of the trend towards creating GPT-based applications, you will find many companies offering their services in the software market. However, most of them came into this niche quite recently, seeing an increase in demand as an opportunity to earn money. In order not to waste time and resources on non-professionals, it is better to get acquainted with the projects that the software development companies have already launched. Download the available applications that they have developed and evaluate these apps as an ordinary user:
If you answer ‘yes’ to all questions, it is worth investing in the development and integration of this company’s ChatGPT into your business. If it seems to you that this technology does not work convincingly, it is better to look for other ChatGPT development companies.
If you would like to partner with trusted companies whose experience in developing Chatbots is highly appreciated by customers, experts, and consumers, learn more about the following development teams.
Company | Year of Foundation | Number of Specialists | Certification | Sphere of Expertise |
CHI Software | 2006 | 800+ | ISO-certified company | ChatGPT SolutionsAI & Machine LearningInternet of ThingsBig Data & AnalyticsCloud Computing |
Intercom | 2011 | 1,000+ | ISO-certified company | AI BotAI Help Desk |
Tidio | 2013 | 180+ | No | ChatbotsHelp DeskLive Chats |
Drift | 2015 | 550 | U.S. Department of Commerce | Conversational AIConversational CloudConversational Service |
Appy Pie | 2015 | 300 | ISO-certified company | Chatbot BuilderApp BuilderWebsite Builder |
To determine the ChatGPT use case that is best suited for your business, take a look at the already implemented projects. This will give you new ideas and help to choose the option that will increase your competitiveness the most.
One of the CHI Software projects is an application for a cosmetic retailer that allows users to receive personalized recommendations from ChatGPT when choosing beauty products. To do this, the user uploads their selfie, and AI analyzes the photo according to different parameters and selects the most suitable products. The user not only receives full recommendations from ChatGPT with explanations but also can ask clarifying questions.
The company created its customer service bot to test the new GPT technology and named it Fin. It can be used to answer website visitors about all aspects of the company’s activities. When giving answers, the Chatbot also refers to the necessary sections on the site or blog articles. If the question is raised in relation to information that Fin does not have, it redirects the inquiry to the customer support service.
The development team proposes an AI-based Chatbot named Lyro. It can answer 70% of the questions asked by visitors to e-commerce websites. The speed of its responses is much faster than a human: less than 15 seconds compared to 2 minutes of a live operator.
The company offers to use ChatGPT to help the support team. In this case, ChatGPT does not directly respond to the visitor but suggests the best responses to sales reps. The duty manager can immediately send it to the visitor, customize or write their own answer.
The company has integrated ChatGPT technology into its AI Chatbot Builder. It helps create human-like interactions for website visitors and answer more complex questions than before. Response speed improves the user experience because visitors don’t have to wait long for customer support to respond.
These are just a few of the ideas that you can easily integrate into your workflow with the help of the best ChatGPT development companies. And since the potential of this technology is very high, you can create your own unique ChatGPT solution, which will become not only the highlight of your company but also the basis for the implementation of more complex technologies that will soon appear in the software market.
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]]>The post Taxation On Players In La Liga (Spain) appeared first on CFE-EUTAX.
]]>Spain’s premier league is called La Liga, and the TV rights for this league are massive worldwide. When a football league has TV rights to almost all parts of the world, it is common sense that there will be sponsors pouring in to advertise themselves through these football clubs and leagues.
The money generated from all these deals attracts the best players from across the world, and these players are paid huge sums of money as salary. Along with the salary, they also get lots of individual sponsorship deals.
The popularity of La Liga helps Spain’s economy grow. Therefore, Spain develops strategies to introduce attractive tax laws to promote the arrival of foreign players.
In this article, we will discuss the primary tax laws in Spain and how it deals with different tax issues concerning football players.
Spain’s Tax Rates On Footballers
The tax system in Spain is devised in such a way that sportspersons may benefit from it. The transfer of a player from a foreign club to a club in Spain can cause various financial streams with specific tax ramifications.
If a Spain permanent resident is employed as a player in one of the clubs in La Liga, they are supposed to pay taxes on their worldwide income. This means that the Spain resident is obligated to pay a certain percentage of his overall income, including salary, sponsorship deals, advertisements, etc.
The tax rates for permanent residents can vary from 43% to 52% based on the different regional policies in Spain, but for a non-resident, the tax rates will be around 19% to 24%. The non-residents are only obligated to pay taxes on the income they receive from Spanish employers, which, in this case, is their football clubs.
Non-permanent residents also pay tax rates on their properties or businesses located in Spain. Some forms of income may incur lower tax rates according to different Spanish regulations.
Taxation On Termination Of Contract
If the football club terminates a player’s contract, the club is obligated to pay the rest of the remaining salary on the player’s remaining contract. In such a case, the STA will only impose tax rates on the pay-off money as income tax.
The tax rates will be the same as the income tax of 43% to 52%, assuming that the player is a resident of Spain. This tax payment can be made at any point before or after the contract termination, as the player remains a resident for tax purposes in Spain for the whole economic calendar year.
Tax Obligations When A Player Transfers To Another Club In An European Country
When a club in Spain terminates a player’s contract, and moves to a football club in another European country (League), the payment made by the Spanish club to the player will come under tight scrutiny from both countries’ tax laws.
Everything here depends on the tax treaty between Spain and the player’s new country of employment. If the treaty between the two countries suggests that the player should pay the tax in Spain, the player’s income tax will go to Spain. If not, then the authorities should consider the tax laws of the player’s new country.
If the player opts not to apply for tax residence in the new country, the income tax will be solely payable to Spain.
Tax On Single-Time Payments
When a player is bought from a club, the selling club sometimes adds clauses in the contract where the buying club has to pay a small percentage from any future sales.
In this case, there are a couple of outcomes.
· If the player is still a resident for tax purposes in Spain for the calendar year, the income will be taxed in Spain according to the standard 43% to 52%.
· If the player is a non-resident for tax purposes in Spain in the year where the payment is claimable, the STA can only levy tax on income incurred from a Spanish source or if there is a tax treaty agreement between Spain and the other country.
Tax On Agent Fees In Spain
Every player is represented by an agent that reaches out to football clubs. The agent looks over the financial dealings of the player, and in return, the agent is paid a certain percentage by the buying club.
If the agent is a resident in a treaty jurisdiction, they are usually not liable to the income tax laws. However, if the agent is part of a company or a group established in Spain that deals with player transfers, the OECD Model grants Spain the right to tax the player.
For a non-resident in a treaty jurisdiction, an agent is subject to taxation if the services are used in Spanish jurisdiction. This means that any financial dealings carried out by an agent under Spanish territory are part of Spain’s economic activity.
So, the agent’s fee will be taxed in relation to their salaries, provisions, and supplies. The tax rate for the agent’s fee reads 24% in accordance with the non-resident Spanish tax law.
Tax On Agent Fees Paid By The Football Club
If the football club is the one that pays the agent, the income will be considered to be sourced through a Spanish company. Here, the football club will take the role of a company based in Spain.
In such a case, the agent’s fee will be taxed according to the resident Spanish tax law. The tax rate will be the same for Spanish resident income tax, from 43.5% to 52%.
Any payment that is sourced from a company or an institution that is located in Spanish territory will be levied the standard income tax as the Spain residents. The tax on the agent’s fee will be determined by whether the club or the player is paying.
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]]>The post Stock Trading Tax Rates In Europe appeared first on CFE-EUTAX.
]]>Dealing with the trades of individual stocks can lead to quick profits and considerable losses. You need to read the rise and fall of prices in the market with a keen eye. Timing your trade is the most important when it comes to stock markets.
In this article, we will discuss the taxes levied on stock trades in Europe.
Tax Rates in Europe
The tax rates on profits procured through stock trading are different throughout the world. The US and UK have their system of taxing the income on stock exchange profits, such as dividends and capital gains.
They are not taxed the same as net wage income. If you buy shares in a company for a low price and gain profit on its sale, a tax rate will be levied on that profit.
Suppose you bought a percentage of a company for 200 Euros and sold it for 250 Euros, according to the inflation in the market. You will have to pay a certain tax rateon that 50-Euro income, depending on your country.
Denmark
In the case of Denmark, you are supposed to pay 27% in tax if your capital gain through stock trading is around 57,200 Danish Krone. This tax is levied on the initial income from the shares you sold.
If your capital gain is above the figure mentioned earlier, you must pay a heavy tax of 42% on your income from stock trading. The income here includes the increment received from the company where you have shares, and the profit garnered from the sale of the shares.
The amount is double 57,200 Danish Krone if you are married. The income is taken together and should be two times 57,200 for the tax rates to apply (still 27% for the initial income and 42% for more than the average income).
For example, if you have invested in a company to rely on their dividends for your income, and BNP Paribas is about to go ex-dividend in a few days, you should not miss the date. If you miss it, you will not receive the dividend.
The tax rates in Poland are levied on your income from sales of your company shares and also the dividends you receive from them in a long-term investment.
Poland
In Poland, the tax rates are based on your residential status in the country. If you are a non-resident, you are supposed to pay a limited percentage of tax to the government through the sale of your shares in Polish companies.
For permanent or local residents, their total worldwide income is taxable. In other words, it means that they are subject to unlimited tax liability.
For non-residents, let us take an example of a company in Polish real estate. If a non-resident has a share in that company and has at least 50% of its asset value, they are liable to pay 19% of their income tax rate.
This is applicable only to non-residents with a 50% share in Polish companies that are directly or indirectly connected to Polish real estate.
Spain
In Spain, the dividends and other income that are acquired through the sales of shares in companies are included in PIT saving income. They are taxed at a 19% tax rate in the initial income of 6000 Euros.
The increase from 6000 Euros to 50000 Euros will see an increase in the tax rates up to 21%, which will go up to 23% if the income crosses from 50000 to 200000 Euros. Any income above 200000 Euros through company shares sold in Spain will be taxed at 26%.
For non-resident persons in Spain, the tax rate is flat at 19%.
Short-Term Capital Gains vs. Long-Term Capital Gains
For freshers looking to invest in stocks, you need to understand the basics first. To make you understand stock trading, we will discuss the difference between short-term and long-term capital gains.
In simple terms, a capital gain is a profit you receive from selling an asset. The difference between short-term and long-term is the period of time you invest in assets like bonds, stocks, real estate, etc.
· Short-term Capital Gains
Short-term stock trading refers to the purchase and sale of stock shares in an asset within a single trading day. Short-term stock traders use high amounts of leverage and trading tactics to gain ground on minute price movements in the market.
However, you should understand the market’s fundamentals before you decide to trade in stocks for short-term profits. If you do so without adequate knowledge, you can stand to lose a lot of money.
Even if you invest in assets to gain quick profit, you should do it using the money you can afford to lose. To deal with short-term trades, you must have access to a considerable amount of capital with you, as any sudden shift in the market may require big-margin calls on short notice.
· Long-term Capital Gains
Long-term capital gains refer to the profit from selling an asset that is a year or older. People that invest in long-term assets do so because the tax rates are much lower than short-term capital gains.
In long-term capital gains, you purchase an asset for the current price, and you wait for a year or two till you sell it off for a higher price. However, the extra income you procure from the sale (selling price minus the purchasing cost) is not how you calculate profit in long-term gains.
To determine the capital gains, you should consider the cost of buying the asset, the selling price, and the cost inflation index. One key advantage of long-term capital gains is that the tax rates are slightly lower than short-term gains.
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]]>We live in a world where technology and the internet changed the way businesses operate and win in their respective markets. Zippia claims that the U.S. technology market makes up 35% of the total world market. These are astonishing numbers, and for your business to ignore the benefits of technology can be the sole reason for the downfall of the entire organization, even with the best processes and people working for you.
If we don’t mention specific implementations, the majority of businesses can benefit from the usage of different kinds of apps. According to Statista, next year, the projected revenue that mobile apps will generate is $935 billion!
What do these numbers mean for your business? Here are some numbers by Kinesis:
So, in order for the app for your business to reach its fullest potential, the design is the first critical factor. However, the looks are only making the initial impression, and the next most important part is user experience. In this guide, we will explain what user experience agency you should hire, in order to receive the necessary expertise and achieve your vision! Here are some factors that lead users to leave a website:
“Most business models have focused on self interest instead of user experience.”
– Tim Cook, Chief Executive Officer of Apple Inc.
Simply put, User Experience (UX in short) is a way in which a user feels while interacting with a system. This system can be a website, mobile application, or desktop application. It is important to mention, that in a modern context it is considered to be a part of human-computer interaction. The term user experience was coined by Dr. Donald Norman, a cognitive science researcher.
There are experts working on this, and they are called UX designers. They work on analyzing how users feel about the system, evaluating how easy it is to use, is it valuable for the end users, and how well it is performing. UX designers dive deep to analyze everything related to this process.
UX designers go as far as analyzing each element of a checkout process in a web store, for example, finding out whether the buying process is quick and easy or if there are any bottlenecks that could be eliminated in order to improve things. Your website can have a problem with input fields in forms, that you don’t even think about, and UX designers can help you solve it!
You don’t need to hire a dedicated UX expert for a simple app or a website, but for a complex project with sophisticated architecture, having such an expert is a must. If done right, an efficient UX design can prevent significant revenue losses, due to users leaving an inconvenient system.
UX design is crucial for new products because the design can make or break your great product idea coming to life. There is an option to train employees that you already have for this role, however, in a startup environment speed is very important. If you are a startup owner, consider hiring an experienced UX designer to help you build a product architecture that will turn into market success after the release.
It is understandable, that SMBs and medium-sized businesses with tight budgets must spend their money on the most important features and team members. Projects with a limited budget often prioritize things that they need for the launch and sometimes skip investing in research and analysis. Sometimes this can be a big mistake, so if you have even the smallest chunk of budget for some research on user experience, you should definitely invest in it.
The United States of America is rich in outstanding software developers across the nation. If you look for UX consulting firm in Seattle, here are the options that definitely deserve to be considered:
Minimal project size: $25,000+
Number of employees: 50+
Industries: eCommerce, Healthcare, IT, Retail
Most notable partnerships: Amazon, Microsoft, CenturyLink, F5
Established in 2000, UpTop not only delivers great UI/UX design solutions for over two decades but also shines in web and mobile app development services. They have a 50+ team of passionate professionals, who are focused on solving complex problems and dealing with challenges to get maximum revenue for their clients.
Minimal project size: $25,000+
Number of employees: 50-249
Industries: IT, Hospitality and leisure, Consumer products and services
Most notable partnerships: Amazon, NASA, Apple, Disney
Another great UX design agency in Seattle with a proven track record of the completed project for leaders in their respective industries. Just like UpTop, it was founded in 2000 and has 22 years of experience in the IT industry. In addition to UX/UI services, Blink offers mobile and web development services, as well as research, design, and strategy consulting.
Minimal project size: $10,000+
Number of employees: 10
Industries: Arts and entertainment, eCommerce, Healthcare, Education, Government, Legal, Media, Non-profit, Retail
Most notable partnerships: UC Berkeley, Monterey Bay Aquarium, Fujitsu Laboratories Of America
This company was founded in 2009, and while being younger compared to the previous two entries in our customer experience agencies in Washington area list, it has expanded to additional locations, such as Sacramento, California and even London, England. Their services also include custom software development from scratch, as well as web development and web design.
Minimal project size: Undisclosed
Number of employees: 285
Industries: Undisclosed
Most notable partnerships: Mercedes-Benz Financial Services, Capital One, Samsung Electronics, The Container Store
This company was founded in 2003, and they have a proficient team of almost 285 employees that are able to deliver high-quality custom software development, UX/UI design and mobile app development services.
Minimal project size: Undisclosed
Number of employees: 50+
Industries: Undisclosed
Most notable partnerships: ReachNow, Philips, Johnson Controls, Sony Pictures Television
The final Seattle UX company in our list was created in 1995, and since then has grown to the size of 50+ full-time employees who are ready to take over the most daring projects. The company also delivers such services as web design, data strategy, data analytics, quality assurance, and testing.
Before choosing your Seattle UX agency, make sure that it aligns with your goals and vision. Make some research and read the reviews about the agency you are interested in. Find out whether the size of the company will be enough for your case. After that, conduct an interview with the vendor’s representative to make the final decision and ensure that you had picked the right option of UX design consulting in Seattle!
Let’s conclude with some more thoughts on user experience. The same user experience design can’t work the same way with different websites. We, as humans, behave different in different environments, so the UX must be adjusted in each individual case.
Another thing that should be mentioned is that UX can’t be measured by traditional metrics such as conversion rates or page views. All the tools we have here are assumptions and user interviews to help us make the right decisions.
Finally, it is important to understand that the user experience is not the same thing as usability. User experience focuses on how the visitor is feeling while browsing the website, while usability is all about the efficiency of the interface.
Things to know about user experience | |
The same design does not fit all project | You can’t copy and paste the same user experience strategy from one project to the other |
UX is hard to measure | The standard metrics does not really say much in this case |
It is not the same as usability | Usability is more about design, and not about actual experience |
Yes, it is probably needed more than ever, as the number of apps in 2022 is enormous. Currently, there are over 5 million apps combined on Google Play and the Apple App Store. To stand out in such tough competition, you need to have an application that offers not only functionality but also great visuals and superb experience. According to research by Forbes, every dollar invested in UX nets an ROI of 9,900%!
The best user experience is probably the one that the user doesn’t even notice. It must help the visitor of the website or a mobile application to use a product in the most convenient and intuitive way, and be able to leverage all of its functions, wasting little to no time figuring out menus.
These are two entirely different things. User experience focuses on the person using the particular product, service, or application, while customer experience focuses on the customer. While customers are also using the product, they may be buying it for someone else. So, customer experience is more about marketing.
No, it’s not! While user experience is commonly discussed in a digital context, it can be just as easily applied to physical experiences.
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