Individual Tax Return

It is a generally accepted practice, that profits from foreign sources are subject to obligatory declaration and ordinary taxation by individuals in the state of their tax residence. Profits subject to taxation might include

  • gains and income related to securities held via private foreign bank account or with a foreign broker (interest, coupon, dividend, premiums, discounts, redemption and sales proceeds);
  • dividend and other income from privately owned foreign companies;
  • distributions from foreign trusts and family foundations;
  • income of the controlled foreign company (CFC) attributed to an individual controlling person;
  • liquidation proceeds consequent to the dissolution of the foreign companies and partnerships;
  • income from disposal of real estate and movable properties abroad;
  • gaming income realised abroad;
  • other types of income from sources outside the residence state.

MP Part can support in assessing and declaring the foreign source profit. Our services related to Individual Tax Return are highly individualized and customised to the needs of the clients. We offer a broad range of services that may include any or all of the following:

  • compilation of a Tax Return in the required standard;
  • calculation of taxable income;
  • preparation of the necessary supporting documentation to the Tax Return;
  • coordination of receipt of the necessary information;
  • support in communication with tax authorities related to individual tax assessment;
  • analysis and planning of the tax consequences related to investment activity;
  • analysis and planning of the tax consequences related to real estate operations;
  • analyses of possibilities and implementation of the international tax treaties.