CRS country with territorial tax

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Elel

Mentor Group Light (Private use!)
Country A and Country B are both CRS
Only country A has very specific territorial tax

Person Y becomes tax resident in country A
Person Y manages his wealth in country B bank

If country B reports accounts to country A will nothing happen as long person Y not touching banks in country A?
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
If country B reports accounts to country A will nothing happen as long person Y not touching banks in country A?

Correct.

P.S Even if money from Country B touches accounts in country A its not a problem. It depends on what kind of remittance is made and which RND country is involved. For example remitting offshore capital from country B to country A is not taxable in Malta. Only offshore income remitted to country A is taxable.
 
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