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US Tax Treaties related Questions

What is a tax treaty?

Tax treaties are what many countries have in place as an agreement with other countries to help prevent the double taxation that may happen. In most cases when a tax treaty is set in place it will cover income taxes, inheritance tax, value added tax, and other types of taxes. Tax treaties also help to lower the cost of taxes on a certain treaty country for residents of another treaty country. Read below to find more questions about tax treaties that have been answered by the Experts.

Would a US resident have to pay taxes in the country where they earn money or would the money pass through a tax treaty?

In most cases the way the money would be taxed would depend on if the person was a US citizen or a resident alien. If they are a US citizen, then the tax treaty would have no bearing on the US or foreign money. If the person is a resident alien, then the tax treaty would step in and determine if the income is taxable. In most cases the country that the money is earned in is the country that would tax the money.

Does Monaco have Double Taxation Agreements?

Case Details: If a person starts a business in one country and invoices in other countries, would the invoices be taxed in the other countries?

Monaco has been trying to push for tax treaties with other countries. The treaties that are currently in place do not cover the double taxation. The country of Monaco does have a tax treaty with France, Luxembourg, and Qatar. In most cases the countries that are in treaties will tax the money at the source.

Does the US have a current Tax Treaty with the Marshall Islands ?

Case Details: Particularly a treaty precluding US investors from having Foreign Income Tax Withheld from their dividends paid by companies incorporated in the Marshall Islands

When it comes to Double Taxation Treaties, the Government of Marshall Islands has not signed any tax treaties with any other countries. If a company is located in the Marshall Islands, they are not required to withhold taxes for the US. Companies that are in the Marshall Islands do not pay taxes and they are also not required to keep financial statements, but the company is generally asked to keep the financial records on their earnings and expenses.

If an Argentine citizen is working in Mexico for a company that is based in California, would the person need to file taxes in the US?

If the company is based in the state of California and has retained the person for them, even if they have not worked in the US in several years, they will still be required to file a 104NR. The United States has tax treaties with several countries. If the person is a nonresident alien, then the tax treaties may reduce their tax liability. The income of the person would need to turn the income into the IRS to find out if they are tax exempt or would be eligible for a reduced tax.

Tax treaties are a way to help foreign countries not assume a higher tax when working in other countries. When a person has income in another country, then they may have questions regarding what countries have tax treaties or what countries will honor tax treaties. When these questions arise, then the person would need to contact an Expert and get the answers to the questions they may have about tax treaties.

Ask a Tax Professional

Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: General
Satisfied Customers: 572
Experience:  10 years experience
16356563
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Tax Professionals are online & ready to help you now

Wallstreet Esq.
Tax Attorney
Satisfied Customers: 570
10 years experience
Wendy Reed
Enrolled Agent
Satisfied Customers: 3052
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Mark D
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MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Recent Treaties Questions

  • Lev, I have a similar situation where a nonresident alien

    Lev,
    I have a similar situation where
    a nonresident alien (a Mexican individual) owns a DE SMLLC (disregarded entity) since 2011 and never filed US tax returns thinking that there is no PE in the US based on the US-MX treaty;
    nonresident performs all purchasing and selling activities outside of US, visits US a few times a year but for personal reasons;
    nonresident has no US activities other than having the SMLLC;
    SMLLC has no employee, but has a virtual office which collects mails and forwards emails;
    under the name of SMLLC, SMLLC buys product in the US and sells them to third parties in the US;
    SMLLC has a bank accounts in the US where it collects sales proceeds from buyers and pays its costs to US vendors.
    Do you think under the above situation the nonresident has no PE in the US; therefore, no income should be taxed by the US?
  • Hi, Would you be so nice and tell me how could I transfer

    Hi, Would you be so nice and tell me how could I transfer a personal property from Spain to an LLC? Or withmy personal name?" Most treaties provide for the exemption of gains from the sale or exchange of personal property. Generally, gains from the sale or exchange of real property located in the United States are taxable", as they mention in the page 47. How should I transfer the property so as to be legal in both countries? Is there any treaty between both countries? Could you tell me the rate of the death tax in Delaware? Which taxes do I have to pay according to the value of the initial contribution? Any death tax realted to the initial and final value of the company? As Ashlea Ebeling mentions in the Forbes magazine in her article "Where not to die in 2013" "Thanks to the fiscal cliff tax deal (the American Taxpayer Relief Act), the federal estate tax exemption of a generous $5 million per person, indexed for inflation, is now permanent. So for 2013, up to $5.25 million of an individual’s estate will be exempt from federal estate tax, with a 40% tax rate applied to any excess over the exemption amount." http://www.forbes.com/sites/ashleaebeling/2013/01/28/where-not-to-die-in-2013/ In the INFORMATION BRIEF, Research Department, Minnesota House of Representatives updated in September 2014 by Joel Michael Table 3 State Estate Taxes Applicable to 2014 Deaths (as of June 30, 2014) State - Exemption Amount - Basis for Rate Schedule - Top Statutory Rate Delaware - $5,340,000 - State specific - 16% (indexed for inflation,based on federal exemption) (http://www.house.leg.state.mn.us/hrd/pubs/estatesurv.pdf) So there is an exception for estates up to $5, 340,000 in the state and federal death tax. Is that correct? Thank you, ***** *****

  • I have been living in the UK since Sept 2nd 2011 having

    I have been living in the UK since Sept 2nd 2011 having spent the previous 5 years in the US. In June 2013 (with a couple of friends) I started a new US based Consulting business called GiANT Worldwide (I own 30%) and it's grown significantly since then.
    In 2014 I have received $100K by wire transfer to my UK consulting business as salary equivalent and I had assumed I would simply pay tax as normal in the UK. However, as we approach year end in the US the companies accountants (we were incorporated in Oklahoma)
    have told me that I will need to pay tax in the US first as the income has been earned in the US and then transferred to the UK. Something they called "flow through". They explained that because of the reciprocal tax arrangements between the US and UK I can
    claim a credit on my UK filings. My question - Will the UK tax authorities allow me to pay tax in the US first even though I am a resident in the UK?
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