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Today, diamond companies require impartial and professional tax advise
from people who understand the fiscal environments in which diamond companies
operate.
Key Benefits
 | Diamantaires do not have the time to fully understand all of the finer
details of tax planning. |
| At CFO Plus we are not registered as accountants in Belgium and are not
obligated to disclose our clients' tax planning, unlike Belgian lawyers and
accountants who must. |
| We take responsibility for the implementation, from forming companies and
opening bank accounts, to executing transactions to delivering the signed
audited financial statements. |
Paying Tax
Sometimes paying tax is a viable option. The notional interest, overseas
dividend entitlements and benefits at the bank often repay the investment in
taxation within a few years. However, the cost-benefit analysis will be
different for each company.
- Diamond Industry Knowledge
- No two industrial sectors are identical and each one has its own trading
peculiarities. As we all have worked in the diamond industry we
understand the needs and behaviour of our clients.
- Jurisdictions
- Keeping up to date with the various jurisdictions is a daunting task for
diamantaires, leave to the professionals, it is our job.
- Economic Reality
- For a tax plan to be robust, the structure requires economic reality in
all 'independent' entities. At CFO Plus we understand what this means for
diamond companies.
Case Studies
- Client 1
- This client is a large rough trader in Antwerp with a sister company in
India and a strong trading partner in Hong Kong. The target was to
design a robust structure with a total tax charge of 10% of profits.
This was achieved by taking advantage of the strong double taxation treaty
between Belgium and Hong Kong while ensuring that there was no direct
control from Belgium.
- Client 2
- A polished diamond wholesaler located in Belgium was spending large sums
of money on diamond sorters in Antwerp. CFO Plus located suitable
staff in Mauritius who were trained and this facility was also used within
the overall tax structure.
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