Luis Perusquia Berrizbeitia- Involved in the Tax Haven’s Hidden Gems of Bahamas leaks? (2023)

Luis Perusquia Berrzbeitia
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Luis Perusquia Berrizbeitia claims that he holds significant experience in leading hotel operations and construction development projects in Mexico.
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Luis Perusquia Berrizbeitia- Introduction

Luis Perusquia Berrizbeitia claims that he holds significant experience in leading hotel operations and construction development projects in Mexico.

As asserted, Luis Perusquia Berrizbeitia claims that he is the president and CEO of Ford Mexico’s Guerrero franchise. Luis Perusquia Berrizbeitia also claims that Luis Perusquia Berrizbeitia oversaw the operations of 5 dealerships for 17 years. Taking pride in his work Luis Perusquia Berrizbeitia claims that he was in charge of the general administration of profitable operations, the creation of original business models, and the introduction of market-specific initiatives. Showing off his achievements Luis Perusquia Berrizbeitia claims that Ford awarded him ten leadership accolades in Luis Perusquia Berrizbeitia’s honor.

Luis Perusquia Berrizbeitia has a bachelor’s in business administration from Universidad del Valle Mexico. Prior to joining the Ford team, Luis Perusquia Berrizbeitia spent five years as a board of directors stakeholder with BBVA Bancomer and regularly provided input on meetings between the bank and both Santander Mexico and BANPAIS.

Showcasing his passion for racing Luis Perusquia Berrizbeitia claims that he also races with the Ferrari of Tampa Bay team as part of the Coppa Shell North America competition. Luis Perusquia Berrizbeitia claims to begin racing in 2019 and has accumulated an impressive track record.

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Luis Perusquia Berrizbeitia– The Tax Haven’s Hidden Gems

Bahamas leaks involve Mexicans

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A multinational team of journalists is now disclosing the names of businesses operating in the Bahamas, a tax haven, in a manner akin to the Panama Papers. In that list of 1.3 million data, hundreds of individuals with Mexican ties might be found. The journalistic group that has access to this database, Mexicans Against Corruption and Impunity is a member.

Daniel Lizárraga, Raul Olmos, Valeria Durán, Dulce González and Mirelle Mora. At least 432 Mexicans, or individuals with investments in Mexico, are found working for firms headquartered in The Bahamas, one of the most well-known tax havens in the world.

When we refer to a tax haven, we mean a region where the tax laws (1) do not impose or impose very little income taxes, (2) favor foreign taxpayers, (3) contain a big number of exemptions, and provide significant financial and fiscal secrecy protection. That is to say, these are typically places where the local tax authority does not inquire about the source of funds and does not provide much information about the starting and ending points of investments and investors.

Names of listed stockholders, past government employees, and current workers at various levels of the hierarchy are also included.

The names of the Mexicans were obtained through a global media investigation known as Bahamas Leaks, which made it possible to discover 175,000 888 signatures, trusts, and foundations established in that Caribbean nation by individuals from all over the world.

The information was collected by the German daily Süddeutsche Zeitung from 1.3 million archives, and it was shared with the International Consortium of Investigative Journalists (ICIJ) and its allies, much as it was with the Panama Papers discovery in April of last year. The ICIJ’s collaborators in the Mexican investigation this time are reporters for the publications Proceso, Aristegui Noticias, Mexicans Against Corruption, and Impunity.

The businesses displayed at the Bahamas Leaks were established over a 26-year period, from 1990 to the first several months of 2016. This kind of investigation, according to ICIJ director Gerard Ryle, is a public duty. There is strong evidence to show that everyone with knowledge of secrets in the realm of offshore corporations has the capacity to do bad things. So let’s divulge that information, he said.

Due to the conditions it has provided to foreign investors, The Commonwealth of The Bahamas has earned the reputation of being a tax haven. It highlights the fact that none of them pay taxes on any kind of personal income, inherited money, charitable contributions, or any financial gains. Additionally, the privacy of those who transport their money there is ensured.

That country’s parliamentary democracy as a Commonwealth member has been in place for almost three centuries, and the Bahamian dollar has the same purchasing power as the US dollar, adding to its political stability.

Most business operations there have been conducted by “international business companies” (IBC). IBCs are exempt from corporate annual report filing requirements and taxation on foreign income under Bahamian law, protecting shareholder privacy.

Source- BAHAMAS LEAks. ARE YOU ON THE LIST? Mexicans in the Bahamas leaks. the Secrets of the Mexican tax haven. | mexicoactivo (wordpress.com)

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Luis Perusquia Berrizbeitia- What is a Tax Haven (The article linked with the same concept)

A tax haven is simply a country that offers individuals or businesses little or no tax liability. According to our research, the Caribbean offers some of the most popular tax havens in the world, providing benefits such as very low tax liability and financial privacy. Among the most used Caribbean tax havens are the Bahamas, Panama, and the Cayman Islands.

  • Most of the Caribbean nations boast tax security for business owners and individuals due mainly to their financial privacy laws and low tax implications.
  • The only cost for most of these countries is an annual business license fee, with a 0% tax rate.
  • It is advisable to work with a seasoned tax professional before setting up an offshore account or business.

Luis Perusquia Berrizbeitia-Taxes in The Bahamas (The leaks in which Luis Perusquia Berrizbeitia was involved)

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The Bahamas is a well-known nation for its wonderful beaches and climate, but it is also a well-known “Tax Haven” for people who want to manage their taxes wisely.

You might not know that the Bahamas is growing in popularity as a location for digital nomads. For remote workers who choose to work from a different location for a while, perhaps less so for Digital Nomads who frequently travel.

Remote employees may easily reach the US and the rest of the globe thanks to its location on the North American continent and its proximity to Miami. Additionally, people who must maintain a North American work schedule gain from the time zone.

Luis Perusquia BerrizbeitiaIs The Bahamas a Tax Haven? (The leaks in which Luis Perusquia Berrizbeitia was involved)

The absence of personal income tax in the Bahamas makes it clear why it is regarded as a tax haven.

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Additionally, there are no wealth taxes, capital gains taxes, inheritance taxes, gift taxes, or taxes on interest and dividends from shares. The wealthy and the employed find it to be a particularly alluring country due to the tax system. It contributes to the robust economy of the country.

Therefore, it shouldn’t come as a surprise that celebrities like Shakira have established a tax residence in the Bahamas, or at least she believed she had. However, other celebrities with enterprises in the Bahamas included Nicole Kidman and Justin Timberlake. Therefore, something must be driving it if the rich and famous are doing it, don’t you think?

Luis Perusquia Berrizbeitia, are there no taxes in The Bahamas?  (The leaks in which Luis Perusquia Berrizbeitia was involved)

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The idea that Tax Havens doesn’t levy any taxes at all is a widespread one. Most of the time, we talk about no personal income taxes, but there are a lot of different taxes that governments may impose to generate revenue. The Bahamas is the clearest example of this.

The majority of the Bahamas’ government’s tax revenue comes from property taxes, license fees, import and export charges, stamp taxes, and Social Security contributions. So let’s dissect them.

Social Security contributions

Residents will still have to make social security payments to the National Insurance Board of the Bahamas. Employers pay 5.9% of their wages in social security payments, while employees pay 3.9%. On the other hand, self-employed residents will have to pay 8.8% in security payments themselves.

And for everyone—employer, employee, or self-employed—the Social Security tax is capped at $3,077 BSD monthly.

Stamp Duties

Foreigners may be charged a stamp duty in a number of different circumstances. Real estate purchases are subject to stamp duty as are large international money transfers. Rates can be as low as 2.5% but may go as high as 10% on a property sale that is valued at over $100,000. The fee in this case is usually divided between the seller and the buyer. There is a 1.00% charge on a mortgage which is payable by the borrower. The charge for sending money overseas is 0.25%.

Property Tax

The annual property tax is one of the few levies that apply to the majority of foreigners who reside in the Bahamas. Depending on whether the property is owner-occupied or commercial, this tax, which is dependent on the property’s valuation, ranges from 0.75% to 2%.

In fact, if the property is owner-occupied, no taxes will be due—but only if the value of the property is less than $250,000—and only if that is the case. The tax rate ranges from $250,001 to $500,000. It is 0.75% of the assessed value. The tax rate is 1.00% for sums over $500,000, although it is capped at $35,000 for all other amounts.

If the owner is not residing on the property, a separate tax rate will be applied. Taxes on real estate up to $500,000 in value are one percent. Property valued above that is taxed at 2.00%. On New Providence Island, the tax rate for unimproved properties is set at 3.00%.

It’s also important to remember that international buyers in The Bahamas are not subject to any restrictions and have the same rights as Bahamian citizens. Only if the property to be purchased is larger than five acres or is undeveloped land is a government permit required. If not, the Central Bank and Investment Board must only be notified after the transaction that the property has been registered.

Luis Perusquia Berrizbeitia- Offshore Financial Institutions in the Bahamas

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More than 250 banks and trust companies representing 25 countries are licensed to do business in the Bahamas. Bahamian laws protect the right to privacy of bank clients. Strict Bahamian laws also prohibit any illicit financial activity, such as money laundering. The Central Bank of The Bahamas regulates foreign financial entities by providing a secure environment for banks specializing in private banking, mutual fund administration, and portfolio management.

The Government of the Bahamas, Bahamas Investment Authority. “Financial Services.”

Financial institutions doing business in the Bahamas represent the United States, Canada, Switzerland, the United Kingdom, Brazil, and Japan. Major international accounting firms, including Deloitte & Touche, KPMG International Cooperative, and PricewaterhouseCoopers International Limited have offices in Nassau.

Luis Perusquia Berrizbeitia-Offshore Companies in the Bahamas

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The Bahamas offers foreign companies seeking a tax haven the convenience of easily setting up a business entity. One example of a business entity for foreign individuals and businesses is the international business company (IBC).

IBCs based in the Bahamas are exempt from paying corporate tax if their income is generated locally. Financial Services are provided by the Bahamas Investment Authority and the Bahamas Government. For a period of 20 years following the date of formation, IBCs are also exempt from stamp, estate, and other taxes. IBCs founded in the Bahamas can also benefit from privacy protections for shareholders and exemptions from corporate reporting obligations. IBCs must have one director listed, and a public copy of the register of directors and officials is required to be available.

Luis Perusquia Berrizbeitia-Why Is the Bahamas Considered a Tax Haven?

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The Commonwealth of the Bahamas’ reputation as a tax haven results from its investor-friendly tax and business policies. This is due to the fact that neither Bahamas nationals nor residents are subject to taxes on their own income, gifts, inheritances, or capital gains.

“Frequently Asked Questions,” by the Bahamas Investment Authority and the Bahamas Government. Value-added tax (VAT), property taxes, stamp taxes, import charges, and license fees are among the other levies from which the government instead receives funding. Due to its reputation for stability, the Bahamas is a hub for international banking operations that draw in foreign financial organizations. Since 1729, the island nation has been ruled by the Bahamas’ parliamentary democracy. With a per-capita GDP ranking among the highest in the New World in the Bahamas. Their official language is English.

  • Citizens of the Bahamas do not pay taxes on income, inheritance, gifts, or capital gains.
  • The Bahamian government uses revenue from sources like VAT and stamp taxes.
  • There are strict laws prohibiting illicit financial activity such as money laundering.

Luis Perusquia Berrizbeitia- Bottom Line

The Bahamas became widely popular as a tax haven in the 1990s after passing legislation that enabled the incorporation of offshore corporations and IBCs.

U.S. Department of State: Archives. “U.S. Department of State, July 2000 Bureau of Western Hemisphere Affairs Background Notes: The Bahamas.” It remains one of the preferred tax havens for residents of the United States and European countries. The Bahamas provides offshore banking, registration of offshore companies, registration of ships, and offshore trust management. The Bahamas was the first Caribbean nation to adopt strict banking secrecy laws. Information on offshore bank account holders can only be disclosed by the specific order of the Bahamian Supreme Court. The Bahamas is a pure tax haven, with no tax liability at all for offshore companies or individual offshore bank account holders on income earned outside of the jurisdiction.

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Luis Perusquia Berrizbeitia- Involved in the Tax Haven’s Hidden Gems of Bahamas leaks? (2023)
Luis Perusquia Berrizbeitia- Involved in the Tax Haven’s Hidden Gems of Bahamas leaks? (2023)

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