Recent content by miketrnd

well it's a corrupt pos state like Russia but the tax rates were good for traders.

Well looks like it's official. The double tax treaty is done. Starting 2024.

Yes the interest does keep adding up until it's paid.

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I did. I also spoke with an accounting firm who told me the IRS would want their cut but that the local tax authorities will probably credit me for taxes paid in the USA. The treaty makes it sound as if it's the other way around. I was hoping to hear from someone with actual practical experience

Reading through the Treaty of 1977 and Business Taxes - if this agreement is voided in 2024 then a US C Corp managed/operated from Hungary (with no presence in the US except Resident Agent + Mailing Address) would be liable for taxes to IRS and the Hungarian Tax Authorities ? Also: anyone have...

Not that I know of but here is the New Zealand treaty. Convention between Canada and New Zealand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect to Taxes on Income - Canada.ca I would check the treaty between Canada and whichever country you are interested...

Depends where you move to. They have mutual collection agreements with a few other tax agencies such as New Zealand, Norway + few others.

Nobody wants him gone. Just gotta respect the rules when you are part of a club. Free to leave anytime if a country doesn't want to adhere to those rules...

Well they never asked me for any utility bills. I just walked in and did it. So maybe it depends on the staff.

BT Bank Romania opened an account without being resident. Was in-person visit. They asked for ID and foreign Tax # so they'll probably report back to whatever country information you give them, although I'm not familiar with the UAE-Romania reporting standards so they may not.

I believe you need an ITIN number to open a personal bank account if you are not a resident of the US. Some banks even want an ITIN if you are opening a LLC account (foreign owned disregarded entity). Wells Fargo was one of the banks that didn't ask me for ITIN. I haven't tried the others...

Right but wouldn't selling services/products to US residents constitute effectively connected income?

It's been a few years since I delt with US LLC's but I remember the service provider who setup the LLC telling me that as long as I only trade stocks the LLC won't be liable for income tax. Took me a while to find it on the IRS website ...

Yes they blocked billions but reduced that blockage by 1B after Hungary agreed to not veto the minimum tax agreement.