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Paying Taxes Overseas - - Or, Not Paying Taxes Overseas |
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Trapped in America - Jurisdictional Prison - A Virtual Berlin Wall for a Virtual Age - Trapped in America - Jurisdictional Prison - A Virtual Berlin Wall for a Virtual Age - Congress began its gambit in 1996 by imposing a ten-year tax on expatriated Americans. Get this, they claimed that even if you renounced your citizenship and were no longer a citizen, they would still tax you for another ten years regardless of your citizenship or your residency. What a concept! Not even the Russian slave masters of the former Soviet Union were that creative. What a work of brilliance! It amounts to saying, "Even if you escape our prison, we still own you. You are to report in and give us all your belongings."
Offshore Jurisdictions without Tax Information Exchange Agreements - Offshore Jurisdictions without Tax Information Exchange Agreements - If you read the press releases from the offshore jurisdictions that signed TIEAs, you’ll come away believing that they may be invoked only in the event of probable cause of tax fraud by a particular taxpayer. But that’s not what most of the treaties actually say. Instead, most TIEAs state that any information “foreseeably relevant or material to United States federal tax administration and enforcement with respect to the person identified” for investigation must be turned over to the IRS. -2006 Obscure Tax Havens of the World - Obscure Tax Havens of the World - At The Sovereign Society, we constantly refer to our top four financial havens—Switzerland, Panama, Liechtenstein, and Hong Kong (with Austria as honorable mention for its banking secrecy).But there are several other tax and asset protection havens out there. Each of these lesser-known havens has its own specialties that may be worth considering. Take the Isle of Man—it’s a leader in annuities and life insurance as investment vehicles. Nevis is great for asset protection trusts and is one of only two nations that might arrange for immediate economic citizenship and a second passport. 2006 Foreign Earned Income Exclusion - Foreign Earned Income Exclusion - Generally speaking, if you live and work outside of the United States, then you can exclude all or part of your foreign wages from US taxation. Here’s how it works: • You must work and reside outside the United States. • You must qualify under the Bona Fide or Physical Presence tests. • You can exclude up to $80,000 annually in foreign wages. In this Tax Guide, you will find information on: - 20-Dec-05 EU Tax Collectors May Demand 10 Years Of Account Records Beginning July 1, 2005, the “European Savings Tax Directive” will come into effect. It calls for EU member states to pass details of interest payments to EU nationals to their respective tax authorities. In order to preserve their bank secrecy rules, Austria, Belgium and Luxembourg “opted out” of the information exchange, and will instead impose a withholding tax on interest payments to EU nationals. In addition, the 10 newest EU members—Cyprus, Malta, Poland, etc.—will not be subject to these requirements until 2007. - 17-Jun-05
Five Legal Ways You Can Save Taxes Offshore - Five Legal Ways You Can Save Taxes Offshore - You can own a Swiss chalet, tax-free. Earn up to $80,000/year offshore…again, without paying a dime in U.S. income tax. Even purchase offshore mutual funds…without tax liability. he U.S. imposes taxes on its citizens and permanent residents on their worldwide income. Yet, the tax laws have hundreds of “loopholes” you can use to reduce your taxes. And nearly EVERY ONE of these tax breaks is available offshore—where you’ll also find greater privacy and protection from the threat of lawsuits - 27-Apr-04 How to Own Land Anonymously Through the Little Known “Land Trust” - How to Own Land Anonymously Through the Little Known “Land Trust” - No adverse tax consequences. There are no tax consequences of transferring property into a revocable trust such as the Illinois land trust. Since you as the grantor maintain control over the property in trust, you are considered the owner for tax purposes. From the best if the Sovereign Society Newsletter. Article By Mark Nestmann - 05-Apr-04 Zero Taxes for Expats - Zero Taxes for Expats - The Foreign Earned Income Exclusion coupled with Offshore eCommerce equals tax free living abroad. "There is another way to make more than $80,000 net and still reduce our taxes to zero. By using offshore eCommerce coupled with a Panamanian International Business Corporation (IBC,) we can make any amount of money into the IBC and still keep our tax basis at zero. If we purchase our house in the name of the IBC, we can rent the house to ourselves, thereby increasing our tax exclusion by the amount of the rent, which is paid back into our own IBC bank account. Note that this modality is best used when you earn more than $80,000 net and cannot move the additional income into your IBC. The IBC acts as a buffer in this case by reducing the taxes on the amount of income that exceeds the... - 05-Apr-04
Expat Exclusion Eliminated - Expat Exclusion Eliminated - The exclusion rule may be over for all expats with U.S. citizenship. If you are an expat you may end up paying not only local taxes in the country you reside in, but you might also have to pay Uncle Sam something. That could mean two-thirds of your income will go to taxes. And where does all that tax money go. - 27-May-03 Want to Really "Escape"? Start Your Own Tax Free Small Business - Want to Really "Escape"? Start Your Own Tax Free Small Business - Start Your Own Tax Free Small Business - by John Schroder - If it is going to be said that the location of our web site or server is a factor, let us then 'host' our web page or server in a location that could either care less, or offers a tax-free status by law. Placing your web site on a server located in one of the tax free zones in the Dominican Republic would be one idea. If the argument is that you may have a tax liability based upon where your "office" is located, then place your office inside one of the tax-free zones as well. - 27-Aug-03 Foreign Assignment: What About Taxes - Foreign Assignment: What About Taxes - Are you worried about whether or not you will need to pay both foreign taxes and taxes in your native country? Steven Kang gives U.S. expatriates some ideas about how to save money by counting your foreign taxes on your U.S. tax return. This could save you money and allow you to travel around and see more of your new home. - 10-Jan-03 Mountain-Ringed Andorra In The Heart Of The Pyrenees - Mountain-Ringed Andorra In The Heart Of The Pyrenees - ...you may come to escape taxation, but you’ll stay to enjoy the dramatically beautiful landscapes and remarkably hospitable people. "High on most foreigners’ lists of reasons for living in Andorra is the total absence of serious taxes. No income, no capital gains, no inheritance taxes. Not even a sales or value-added tax." by Peter Dunkley From The Best of International Living Magazine - 10-Jan-03 Foreign Assignment: What About Taxes - Foreign Assignment: What About Taxes - Are you worried about whether or not you will need to pay both foreign taxes and taxes in your native country? Steven Kang gives U.S. expatriates some ideas about how to save money by counting your foreign taxes on your U.S. tax return. This could save you money and allow you to travel around and see more of your new home. 10-Jan-03
Tax Saving Tips for Expats - Tax Saving Tips for Expats - Dean Demos has been a tax professional for over 15 years, specializing in US Individual Taxation. Hesays, "There are 3 ways to eliminate the double taxation of your income by your new country and the US: the Foreign Earned Income Exclusion (FEIE), the Foreign Housing Exclusion/Deduction (Housing exclusion) and the Foreign Tax Credit (FTC). You can use them separately or together to get the tax savings." - 22-Mar-02 Increase your flexibility, decrease your taxes; the benefits of an offshore trust - Increase your flexibility, decrease your taxes; the benefits of an offshore trust - In addition to the main article, this page contains - IBCs-Belize's other perk - Plus an article called Offshore Banking Protect your wealth in paradise - 05-Mar-02 A French golf course for US$125,000... apartments in tax-free Andorra... J. Paul Getty’s - A French golf course for US$125,000... apartments in tax-free Andorra... J. Paul Getty’s - Tax-free apartments: Andorra has no taxes, no army, no poverty, virtually no unemployment, and one of the lowest crime rates in Europe. It’s small, covering only about 464 square kilometers between France and Spain. Andorra is also the shopping mall of Europe because, although duty-free status ended in 1993, the country is still exempt from the EU’s value-added taxes. About 10 million people come here every year to shop. (This observation and much more) - 28-Feb-02 The Kinder and Gentler IRS - The Kinder and Gentler IRS - If you, like many Americans fled abroad to a foreign country to escape to greener pastures and then inadvertently blundered back into the USA guilty of not paying your U.S. taxes while you were away, then potential amnesty or forgiveness may now be at han - 02-Jul-00 Expat Tax - U.S. Taxation of American's Living Abroad - Expat Tax - U.S. Taxation of American's Living Abroad - As a U.S. expatriate residing abroad, you still owe U.S. taxes each year on your worldwide income! The stories you hear from some of your fellow expatriates sitting next to you at the bar that once you leave the U.S., you no longer owe any taxes. That is true for citizens of some countries, but not of the U.S. Its even against the law to give up your U.S. citizenship in order to avoid U.S. taxes! Three ways to limit your US taxes overseas in tax-haven countries - Three ways to limit your US taxes overseas in tax-haven countries - Three ways to limit your U.S. taxes overseas - in emerging, developed, and tax-haven countries - The US is the only major industrialized country that claims the right to tax its citizens & permanent residents on their worldwide income regardless of where 16-May-00 Offshore Jurisdiction Tables - Offshore Jurisdiction Tables - This page features Individual Taxation gives the rates applicable to income tax, social contributions, capital taxes, gift and estate duty, real estate taxes, stamp duty and other taxes. - 19-Dec-00 |
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