Independent contractor working abroad for US company - Is my income taxable by US?

Question

Suppose I am engaged in U.S. company as an independent contractor, I am non-resident alien, I work from home - Georgia (country, not US state) and being paid hourly. Contract says that consultant (me) is responsible for paying taxes of any sort.

According to this

A nonresident alien (NRA) usually is subject to U.S. income tax only on U.S. source income

And Factor Determining Source is summarized in table (Quoting only first row since It's relevant for me)

Salaries, wages, other compensation - Where services performed

If I understand Where services performed correctly, then that's my country, i.e. income is NOT U.S. source income and therefore it's NOT taxable - Am I right or not? Did I miss something? Is there anything else I must be aware of about income taxation of non-resident aliens like me?

Any help is greatly appreciated.

UPDATE

By taxable I mean taxable in US. I have already figured out about local taxation

Answer 1

Not taxable by the US, you mean. It is most definitely taxable in your home country.

Yes, income is sourced to where the work is performed. Unless you're otherwise a US tax resident (i.e.: US citizen/green card holder, or have been in the US for enough time to pass the physical presence test), income you earn while working in Georgia will not be taxed by the US.

Income you earn while in the US (for example - when working on the clients' site) will be taxable in the US, unless there's a tax treaty between Georgia and the US to say otherwise.

You should check local laws about how your country taxes such income, and make sure you're compliant, of course. Talk to a locally licensed tax adviser.