I'm a puertorican (US Citizen) living & working in Puerto Rico (PR). I would like to open a US Roth IRA (with an american mutual fund company) and max it out every year.
I know Puerto Rico doesn't consider these US plans as "qualified plans" so I might have to pay taxes down here when I withdraw from them at retirement time (if I still live here).
However, I would like to know, since Puerto Rico doesn't consider them as qualified plans, would I need to pay taxes on a yearly basis? That is, pay taxes for the internal realized capital-gains & dividends generated by the investments within? That is, would PR consider them just like a taxable investment account?
I know this is very specific to the PR Tax Code. I hope someone has the answer :)