Chapter 88: Taxes Too High? There's a Solution
"You don't want to stay in Marseille?" In the bar, Fabian stared at Xiao Peng with wide eyes: "Mayor Godin made such a great offer, and you refused it?"
Xiao Peng looked at Fabian helplessly. "You should be guarding the database!" Can't you think flexibly?
Pascal shook his head and said, "Fabian, Mayor Gaudin seems to have made a lot of promises, but are they effective? Think about it carefully; there's nothing substantive or effective in them."
Fabian blinked and thought for a moment: "Pascal, I still like the quiet you. You guys make me feel like an idiot!"
"It's not your fault. Everyone has their own strengths," said Pascal.
"You might as well not comfort me!" Fabian changed the subject: "Xiao, you already have a driver's license, why don't you buy a car?"
Xiao Peng sighed, "To be honest, I'm short on money right now. I can't afford a good car, and I don't like bad ones. I'm different from Xiao Pa. For him, a car is just a means of transportation. I'm a typical poor man who has just become rich. I still need a good car to boost my self-confidence. Sigh... why are you looking at me like that?"
Fabian and Pascal looked at each other, and finally it was Pascal who spoke up, "Xiao, Fabian said that to celebrate you getting your driver's license and to facilitate future filming collaborations, he and France 5 TV are giving you a car as a gift. I didn't expect you to be so demanding on the car? Now it sounds like his gift isn't up to par."
Xiao Peng smiled and waved his hand after hearing this, saying, "Brother, please stop teasing me, okay? I'm practically broke now! How can I be picky? If it weren't for the 100,000 yuan bonus today, I'd even buy a used car."
Pascal was stunned. "You're really squandering money, aren't you? Where's your money? As far as I know, you only bought a boat."
Xiao Peng smiled bitterly and said, "Don't mention it, I also bought an Exosuit diving suit!"
Pascal didn't know what this diving suit represented, but Fabian did. Fabian's eyes widened: "You bought an Exosuit? Damn! That would cost over 600,000, right?"
Xiao Peng nodded: "About the same."
"Are you really planning to do deep-sea salvage?" Fabian continued to ask.
Xiao Peng hummed. "I even bought the Exosuit, so of course I had that plan. But after buying it, I realized it was a bottomless pit. I had to consider the ship, the people... and most importantly: taxes! Taxes in France are terrible! I'm broke now."
Fabian and Pascal looked at each other.
Pascal said, "Xiao, we're friends. If you have something you want to do, I should support you. But it's a bit irrational for you to take such a risky risk like this. Never mind, I shouldn't pour cold water on you. Xiao, just go for it! I'm not lying. If you fail this time, I'll provide you with a 500,000 yuan interest-free loan to help you make a comeback. I'm not Godan. We can sign this agreement now."
Xiao Peng was deeply moved after hearing this, but an unhappy expression appeared on his face: "Xiao Pa, do you think I will definitely fail?"
Fabian thought for a moment and said, "Just yesterday, the underwater salvage company 'Neptune's Sanctuary' began bankruptcy liquidation. This is a well-established company with over 30 years of history, and it went bankrupt just like that. This industry is not easy to work in!"
Xiao Peng's face was filled with gloom. "Are you all taking turns pouring cold water on me? Just because others can't do it doesn't mean I can't do it!"
Fabian shrugged. "Everyone in this industry thinks so. Never mind. You're right. We shouldn't pour cold water on you. Your business will definitely flourish, huh... If, I mean, if you really fail, I swear to God, I will do my best to help you, because you helped me a lot when I needed help."
Xiao Peng was deeply moved by what the two brothers said. Just as he was about to tell them that he still had some inventory, Pascal suddenly asked, "Xiao, if you really want to set up a company, where do you plan to set it up?"
"Huh?" Xiao Peng was stunned after hearing this, and then replied, "That's what's bothering me right now. I'm familiar with Marseille, but the taxes here are too high! Xiao Pa, you're in the antique business every day, how do you avoid taxes?"
Pascal said, "That's what I want to tell you. You should set up a company to avoid taxes. Use company accounting to minimize taxes."
"Huh?" Xiao Peng was stunned. "Doesn't France implement the 'territorial principle'? All income earned in France must be taxed?"
Pascal shook his head. "I said to set up a company not in France but offshore. There are many countries in Europe that are tax havens, such as Monaco, Andorra, San Marino, Cyprus, and Luxembourg. However, I personally recommend that you don't choose Andorra, because Andorra has two monarchs who jointly serve as heads of state: the Bishop of the Spanish Catholic Diocese of Urgell, and the President of France. In other words, this country is actually a small country shared by France and Spain, so it's not very convenient for you to avoid taxes there. The situation in Monaco is similar to Andorra, so I don't recommend you do that either. Cyprus is currently in war, so it's not a good choice either."
After hearing this, Xiao Peng asked Pascal, "You did the same thing, right? Where did you avoid taxes?"
Pascal said, "Then let me give you a suggestion: you can choose the Netherlands. I have three offshore companies in the Netherlands."
"The Netherlands?" Xiao Peng was stunned. "Isn't that a country with low taxes?"
Pascal explained, "The Netherlands may seem like a high-tax country, but in reality, its tax avoidance rate ranks among the top three in Europe. Almost every European country offers tax avoidance clauses to large companies: to attract multinational investment, they privately sign agreements offering preferential tax measures. The Netherlands is one of the best in Europe, with 236 special tax incentives, second only to Belgium and Luxembourg."
"Although the EU Commission has stepped up its efforts to combat tax evasion and avoidance, it seems the Netherlands is in danger of running into a trap. However, I think the likelihood of this happening is relatively small. After all, the Netherlands is a big country, and if they really want to take action, they'll target vulnerable targets! If you really want to avoid taxes, it's very simple. Find a suitable country to register an offshore company, handle its accounts, and then conduct business activities in Sardinia. All your problems will be solved."
Sardinia is just south of Corsica. The two islands are so close that you can even see each other from the beach. However, Corsica belongs to France, while Sardinia belongs to Italy. Therefore, the tax revenue is much lower.
After hearing this, Xiao Peng suddenly understood.
I have to admit it. Compared with these people, I am far behind in terms of vision.
You still need to learn more.
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