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How does foreign tax relief work? This is a complex topic, that can sometimes be frustrating!
People have mistaken beliefs about how tax treaties work & often believe because there is a tax treaty they won’t be taxed but tax treaties are designed to avoid double tax.
What if you’re dealing with multiple countries on your path to income? You live in one country but work for a company in a different country? Or you operate a business from one country but have customers somewhere else? Or your company has a presence in multiple countries at the same time: it’s registered in one place and has operations in another place, but the marketing team is in a whole different country? What does this do to your tax situation, more precisely where should you be paying taxes?
This is not so easy to figure out, as there are many rules and exceptions to those rules.
Luckily we’re here to make this complicated topic a little more understandable for you.
Today we are talking about the basics of international taxation, and how to know where you’re supposed to be paying taxes if you’re dealing with multiple countries or working in an international setting.
We use the model of the 3 pillars of residency. Today in particular we talk about residency of the individual & permanent establishments.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
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Dubai free zone situation? And what’s the best offshore banks right now ancestors and whats your opinion on buying gold bars rn
Another question that comes to my mind is if i make a girl pregnent will that country try to claim that i have now intrests to stay in that country i Know its something like this whíth sweden you become atached to to sweden because you have a child to support dont know if it is relevant even if you have non custody and never see the child ?
What if you are uk dom and live in the uk but also have tax residency in say Prague. Do you pay tax on only your uk income and then the rest is able to sit in Prague or does the uk class that as global income and tax all of it?
I'm sure you've covered this already. The situation with a free zone Dubai company with zero tax and residence in a developed, Western country. The company is an internet freelance one in forex. How can that be optimized? In particular, how to set it up so that the income is capital gain which has lower tax than employment tax.
Hard to tell if this is the right platform for this. But ill try anyways as this is still considered business. Given the present conditions, is it better to invest
into Real Estates or into Stocks? Which would yield better output.
The only interesting question is: Which DTAs deviate from the OECD standard model and give you some room to maneuver?
Looking good!
can you speak on the topic of nomads setting themself up with no tax residencies. some countries will let you drop tax residence if you dont spend time there (such as the uk), and then you can spend your year moving from place to place on toursit visas in countries that don't care to tax you. im not sure what the downside of this is, and why this person might voluntarily pay tax just to get a tax residence (aside from the legality of working from tourist visas)
what about just saying no to the tax man ?
You do a heck-of-a-job summarizing complex topics within my 10 minute attention span.
What about the 9% tax i heard about in the UAE?!@offshore citizen
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