European countries offer tax-friendly options for entrepreneurs and investors. Personal income tax can reach as low as 10% in Europe. Many successful entrepreneurs prefer living in Europe with minimal taxation
Honorarium is an ex gratia payment without legal obligation for volunteer services. Common in schools, sports clubs, and for guest speakers. Used for funeral services and wedding officiants. May be called altarages when paid to churches
Income taxes comprise 80% of government revenues in at least half of world's countries. Some highly-taxed countries have income taxes exceeding 50%. Tax-free countries typically rely on nationalized oil or tourism industries
Non-EU permanent residents aged 16+ can shop tax free. VAT rate is 10%, reduced for medicines at 2.1%. Original passport required, digital copies not accepted. Commercial exports prohibited
TIN is a nine-digit number used by IRS to identify taxpayers. IRS issues all TINs except Social Security numbers. TINs are not available online due to sensitivity
W-8 forms verify foreign residents' tax status and qualify for lower withholding rates. Forms are submitted only to payers or withholding agents, not the IRS. All forms are valid for three calendar years after signing