With the thousands of people who are flocking to the country on an annual basis, New Zealand has seen a huge influx of immigrants. This is a good thing for the people who move there, but they may be getting less than what they have asked for once they move.
People who move to New Zealand often move there because they think that they will not have to pay more in taxes since they live there. They have the notion that the taxes in New Zealand are lower or do not exist at all. This is not the case and is the main source of disappointment for people who have made the decision to move to New Zealand to be able to get what they need out of the country and out of what it has to offer. This is a major problem for people who have already moved there.
Geoffrey Cone notes that what is likely causing the confusion is the tax transparency that New Zealand has to offer. They do not promise people reduced taxes or a country that has no taxes but they do promise that people will be able to know what they will be paying in taxes ahead of time. They regularly publish tax records and information on brackets so that people can see. This list goes out on a yearly basis and is able to be accessed by anyone who wants to see it. It is published in English.
There are other options that Geoffrey cone offers for his clients. As a global attorney, he is confident in advising people of where they can live that they will not have to pay an exorbitant amount of money in taxes. He uses the regularly published tax haven list to suggest locations for people to move to when they are looking for a place that does not require them to pay high taxes when they make the decision to move to a different country. This is something that allows them the chance to do more once they get to that country.
The benefits that come with living in a tax haven are numerous and promote a great living situation for people who may not have the chance to do so otherwise. There are many great thing about living in a tax haven but Geoffrey Cone warns that people should make sure that it is something that they are willing to do. Most of the countries that are tax-free are not like the developed countries and they do not function in the same way. It may be a culture shock to some people who have never lived in an undeveloped or an underdeveloped country for tax purposes before.