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Business The Portugal News · 21 Nov 2020 15

Redundancies made by The Pamper Crew
Sumol and Compal

Sumol and Compal will proceed with a The Pamper Crew bring the spa directly to you with professional
collective dismissal that is expected to
make 80 people redundant, the company’s wellbeing treatments served up in your own home.
official spokesperson told Lusa. aren Louise to wake up in the sunshine

Clayton every morning, so here we
“This is a very difficult deci- Compal will not pay man- and Lesley are turning our dream into a
sion, taken in the face of an agement premiums for 2019 K Champion have reality.”
exceptional situation, which and will proceed by reducing been living and working in “Pamper days are always
will affect 5.5 percent of our their Board of Directors, but the Algarve for 18 months really enjoyable and a huge
employees in different areas further details on this meas- and have loved every success with ladies booking
of the organisation, but it is ure are not yet known. minute of their journey so regular days with their
essential to ensure the com- “In view of this scenario, far, meeting new clients friends or family. What
pany’s economic and financial the prolongation of restric- and making many new better way to spend a
sustainability,” said the group. tive measures that negatively friends. winter day enjoying some
The company guarantees to affect our business and the “We have been working pampering, lunch, a glass
pay compensation “above the level of economic activity in the wellbeing industry of fizz and time with your
legal framework”, as well as to expected for the future, Su- for many years in spa’s and friends. We can put packages
extend some benefits, includ- mol and Compal are obliged as mobile therapists. One together to suit everyone.”
Karen Louise Clayton and Lesley Champion from the Pamper
ing health insurance. to proceed with a process of cloudy dark day in the UK The team also offer hostess
Crew. (Photo: Supplied)
In addition, Sumol and readjusting its structure”. we decided our dream was days where clients can learn
about tropic skincare, 5 steps
US tax rules for a N to clear, healthy and younger for a facial. tissue massage or a luxury
looking skin. During these
deep cleanse facial using
“We also organise bespoke
packages the hostess receives
the award winning organic
retreat holidays making sure
Delaware LLC Swing Greene a complimentary facial while your trip is tailor made to skin care range tropic, will
Dennis
discussing the products and
certainly help to release any
suit your requirements and
the basic steps of a good
facial. The Pamper Crew budget. We like to think out stress and tension you may be
feeling.”
of the box offering lots of
If you are the owner of a Delaware Limited Liability Company offer small starter kits to ideas and options. For further information,
(LLC), it is essential that you know what you have and what your help with your daily skin “So if you are feeling like you please visit www.
responsibilities are. care routine, alternatively need cheering up as we deal pampercrew.co.uk or www.
they make ideal Christmas
with these strange times, a
escapealgarveevents.com/
gifts along with a voucher relaxing aromatherapy deep retreat-packages
Requirements are in constant flux and Currently, the State of Delaware imposes a
need up-to-date procedures. If you have flat annual tax of $300 on LLCs. The levy is
held your company for several years, current due on or before 01 June with a $200 penal-
compliance obligations may be a far cry from ty for late payments.
what you started with. Failure to comply can Under certain circumstances, owners of an
be both time-consuming and expensive. LLC may choose to have their business treated
US Federal taxes as a taxable corporation. The State of Delaware,
A legal Limited Liability Company (LLC) like almost every other state, taxes corporate
in Delaware with more than one member income. Corporation income tax in Delaware
(shareholder) has a default status of a tax is a flat 8.7% of federal taxable income.
partnership. The LLC is not in itself a tax “FBAR” compliance
paying entity but passes any taxation on If a Delaware Company has a financial
income and expenses to its shareholders as tax interest in or signature authority over an over-
partners. These non-US resident tax members seas financial account, the US requires annual
are responsible for assessment on any net reporting to the Internal Revenue Service
profits at 30% of their US-sourced income. called “FBAR”. This obligation can under-
As a non-resident owner of a Delaware mine any element of confidentiality in addi-
LLC, foreign-sourced income is not assess- tion to adding another on-going compliance
able in the US. However, there are still strict commitment and cost. “FBAR” non-compli-
reporting requirements. Members must file ance is subject to a $10,000 penalty.
1040 NR individual income tax returns even The Alternative
though there may be, in fact, no taxable US The litany of problems goes on and on. Re-
income. These annual reporting require- domiciliation can be an attractive alternative
ments were introduced in 2017. As part of to the ever-growing list of headaches associ-
the process, shareholders need Individual ated with Delaware LLCs. When a company
Tax Identification Numbers (“ITIN”) which moves its base of operations to Portugal, there
can be obtained at the time of filing the tax is no asset transfer and no assessment takes
declaration. Application for the ITINs in- place. Only the headquarters and effective
volves submitting “apostilled” documentation management change. Assets remain securely
including reporting on identity. Non-com- within the Company. In addition, there is
pliance carries a fine of $10,000. often an opportunity to uplift the share value
Delaware State Taxes of the LLC which can be doubly beneficial
Unlike most states in the US, Delaware due to the fact that many Delaware compa-
does not require an LLC to file an annual nies understated share capital at the time of
report. However, companies must pay an an- formation. Annual running procedures are
nual “franchise” tax. By default, since LLCs stable, and costs are modest, often a fraction
are “pass-thru” tax entities, the responsibility of charges for Offshore Companies.
for paying federal and state income taxes Dennis Swing Greene is chairman and
“passes thru” the LLC itself and falls on the International Tax Consultant for euroFINES-
individual LLC members (shareholders). COs.a. www.eurofinesco.com