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Derren Joseph EA

International Tax Advisory for Private Clients || Board Member || Chair - Tax Working Group at Moores Rowland Asia Pacific || Chair - Asian Branch of the International Business Structuring Association

Derren Joseph EA is a prominent international tax advisor and enrolled agent with extensive experience and expertise in global taxation. Here are some key details about him:

Professional Background

Derren Joseph is a Partner at Moores Rowland Asia Pacific and serves as the Chair of the Asian Branch of the International Business Structuring Association (IBSA).12 As an Enrolled Agent (EA), he is admitted to practice before the Internal Revenue Service (IRS) to represent taxpayers in all 50 U.S. states and internationally.1

Education and Qualifications

  • Completed the Comparative Tax Program at Harvard University12
  • Holds two Master's Degrees in Economics1
  • Certified Diploma from the Association of Chartered Certified Accountants (ACCA) in the UK1
  • Executive Education at Columbia Business School1
  • Advanced Tax coursework at New York University and the University of London1

Expertise and Focus

Derren specializes in working with international entrepreneurs, expats, and investors to legally minimize their global tax burden and protect their wealth.2 His strategies include:

  • Second citizenships and residencies
  • Trusts and foundations
  • Insurance wrappers
  • Offshore structures

Publications and Thought Leadership

  • Published 3 books on taxation, with one becoming an Amazon Best Seller in 20201
  • His views have been published in various prestigious publications, including Singapore Business Review, Forbes Asia, and the American Chamber of Commerce in Indonesia12

Professional Affiliations

  • Member of the Briefing Group advising The Rt. Hon. The Lord Mayor of the City of London on international tax issues1
  • Board of Advisors for the Caribbean Chamber of Commerce in Europe1
  • Board of Advisors for an American social media company called Vlogmi1

Derren Joseph's extensive qualifications, international experience, and leadership roles in tax advisory make him a respected figure in the field of global taxation and business structuring.

Highlights

May 16 · twitter

[ Offshore Tax ] L Visa vs E2: What’s the Differences. https://t.co/eIziHkPzqb

Need #InternationalTax advice? We are here...

#L1Visa #E2Visa #USWorkVisa #VisaComparison #ImmigrationOptions #WorkInUSA #InvestorVisa #IntracompanyTransfer #TreatyInvestor #BusinessImmigration #StartABusinessUSA #ForeignInvestmentUSA #USImmigrationLaw #VisaInsights

[ Offshore Tax ] L Visa vs E2: What’s the Differences.
https://t.co/eIziHkPzqb

Need #InternationalT
Aug 30 · linkedin

[ Offshore Tax ] Let's Talk About Foundations in Mauritius.

Trusts and foundations in Mauritius are taxed at a flat rate of 15% on their chargeable income, similar to companies.

Prior to July 1, 2021, certain trusts and foundations could file a declaration of non-residence with the Mauritius Revenue Authority (MRA) to be exempt from income tax for that year, provided specific conditions were met, such as the settlor/founder and all beneficiaries being non-residents or holding global business licenses under the 2007 Financial Services Act (FSA).

However, the Finance Act 2021 repealed the non-residence declaration, although existing trusts and foundations prior to June 30, 2021, can still benefit from this exemption until June 30, 2024, during a grandfathering period. During this period, no exemptions can be claimed for new assets or activities initiated after June 30, 2021.

Following the amendments, trusts and foundations will be considered non-resident if they are centrally managed and controlled outside Mauritius, as per Section 73A of the Income Tax Act (ITA). The MRA has outlined criteria for determining central management and control, which includes the residency of trustees/beneficiaries for trusts and the founder/beneficiaries for foundations.

Once a trust or foundation qualifies as a resident, it will be taxed on its worldwide income at 15%, but may claim an 80% partial exemption on certain income categories if substance requirements are met. Capital gains are not taxed due to the absence of a capital gains tax in Mauritius. Charitable trusts and foundations are exempt from tax.

Distributions to beneficiaries are classified as dividends, which are not subject to withholding tax. Resident individual beneficiaries are exempt on dividends up to MUR 3 million, with excess amounts subject to a 25% solidarity tax capped at 10% of leviable income. Non-resident beneficiaries are taxed according to their country of residence.

Resident trusts and foundations are subject to tax on their worldwide income, whereas non-resident trusts and foundations are liable only on income sourced from Mauritius.

To determine the residency of a trust or foundation, one needs to examine the test of central management and control. The determinants of central management and control are to ensure substance in the post-base erosion and profit shifting (BEPS) era.

Distributions made by a trust or foundation are termed dividends and there is no withholding tax on dividend distribution in Mauritius.

#MauritiusTaxSystem #TrustsAndFoundations #GlobalTaxation #TaxRegulation #CorporateTax #IncomeTax #TaxExemption #GrandfatheringPeriod #FinanceAct2021 #TaxCompliance #TaxReform #BEPS #WealthManagement #EstatePlanning #FinancialServices #InternationalBusiness

Related Questions

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Derren Joseph EA
Derren Joseph EA, photo 1
Derren Joseph EA, photo 2
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Location

Singapore, Singapore