Country of tax residency
Switzerland
Visited countries
Switzerland
Professional status
Employee - locally employed
Business registration
Not registered
Amount of personal tax paid
23000
Amount of corporate tax paid
0
Global average tax rate
33%
Tax risk
2%
Scenario rating
D
Your current tax situation presents a limited optimization level, resulting in a medium level of taxation for 2022.
Country of tax residency
Spain
Visited countries
Japan, Bulgaria, Italy, Spain, Belgium, Canada
Business registration
Singapore
Amount of personal tax paid
4200
Amount of corporate tax paid
12250
Global average tax rate
12%
Tax risk
1%
Scenario rating
B
The present suggested optimization scenario is based on your personal preferences for your digital nomad journey confronted to our database of tax information.
Subjectively, this scenario allows a tax cut higher than 21% compared to your current situation.
Objectively, this scenario is ranked B compared to the global tax optimization possibilities when considering all countries.
This is our “Current VS Suggested scenario” section. In there, you’ll find an analysis of your current situation (with a rating), that we’ll confront to the scenario suggested by our software and reviewed by our team of experts.
At a glance, you’ll see the Global Remote Setup that we suggest for you and its benefits from a tax perspective, before starting the implementation!
2022 Estimated theoretical taxation per country based on:
- projected revenues
- Suggested optimization scenario
- Tax residency in the concerned country
IF COUNTRY IS
AVERAGE TAX RATE
TAXES DUE
Belgium
50%
35000
Bulgaria
25%
17500
Canada
33%
23100
Italy
43%
30100
Japan
45%
31500
Spain
20%
14000
Switzerland
40%
28000
Conclusion
The tax calculation based on Spain specific tax regime made it the lowest taxed country in the suggested Global Tax Optimization scenario.
In this section, we displayed the countries that have been considered for our analysis (based on your digital interview) and how you would be taxed in each of them, so that you understand the suggested setup.
The actual average tax rate in the suggested scenario for this country is equal to 20%.
You will be entitled to fill out a tax return in Spain (with Heavnn).
We go a little bit more into details in this section and will display exclusively your personal taxation in this section.
The information displayed here corresponds to your taxation level if you choose to implement our suggested Global Remote setup.
The suggested business structure allows you to benefit from favorable corporate income tax rates.
This setup requires the creation of a separate legal entity in Singapore.
If you’re a business owner or freelancer, we also displays your taxation level from a business perspective (corporate tax and similar taxation), so that you can also identify the benefits of the suggested Global Remote Setup on your business.
In order to benefit from the suggested tax scenario, you should ideally:
- Be in Spain for at least 330 days
In case of physical place of residence in both countries, the second criteria to be considered for the tax residency is the place with the closest personal and economic relations.
As such, there is a need to:
- No specific action to be taken
This section is very important. Besides explaining where will be your new tax residency, it also displays important information on how to manage the transition from your old to your new tax residency, based on the specific rules that applies between the countries involved.
Read it carefully!
COUNTRY
NUMBER OF DAYS PER COUNTRY
Spain
183 days, consecutive or not.
Japan, Bulgaria, Italy, Belgium, Canada
Less than 90 days, consecutive or not.
The counting of the days is based on the maintenance of an habitual residence in a given country, independently of being physically present in this residence.
Based on your digital interview and particular preferences, you’ll find your travel plan detailed here in terms of days spent in different places around the world.
Our team is at disposal, should you need to make any changes during your journey, so that the whole experience remains flexible.
The counting of the days is based on the maintenance of an habitual residence in a given country, independently of being physically present in this residence.
This section displays any additional information that you need to take into account. Mainly, this about some specific rules applicable to specific countries, some urgent action to be taken, or just a risk that we want to underline...
Upon validation of the present scenario, the following items will be included in your Heavnn "What's next":
- Power of attorney to Heavnn.
- Registration as an E-resident in Singapore
- 2023 Spain personal tax return
- 2023 Singapore tax return.
Please note that:
- these items will appear in your Heavnn workspace for your information and your management.
- a power of attorney is necessary for Heavnn to be able to initiate actions under your name.
Ideas are great, but they are even better when we make them happen!
The to-do list section will detail the precise steps necessary to implement the suggested Global Remote Setup and Tax optimization scenario.
If you are a “Global Remote Setup” client, this will be handled by the Heavnn Team. If you are a “Plan your taxes” client, this is your starting point towards a fully location-independent lifestyle!
