A client of mine owns properties in various countries both EU and abroad. These were acquired over the last 10 years with taxed income,the income tax having been paid in Germany. The properties are starting to generate a nett of costs income and some exhibit capital appreciation though none are planned to be sold. The income is held in the countries where they accrue and are not repatriated though this may happen later in life as also sales may occur. He is a German high rate tax payer. Does he have to declare this income on his German tax return ? Does he have a tax liability where the incomes occur,at present only in the uk but soon Mexico,Ecuador,phillipines ? If sales are made where is the capital gain due- in the country of sale or if the funds are repatriated or both ?
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So actually you are not redy to answer my question.you in fact don't even need more information you just want to buy more time and have sent me an automated reply. Go ahead take more time but at least come back with an answer.
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