Questions tagged [international]

To be used for a) questions about outside the country of current residence. For example, regarding how the U.S. taxes earnings generated by U.S. citizens outside of the country. and b) questions involving multiple countries. Where possible, questions should be tagged with a specific country tag.

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Can an individual foreign LLC be a CFC?

IRS defines a Controlled Foreign Corporation in terms of U.S. shareholders and voting power (Ctrl + F to CFC. In general), with some wiggle room. Suppose I'm an independent contractor working from ...
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1 answer
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Is a foreign LLC exempt from self-employment tax?

A site writes, If you conduct your business through a foreign LLC, your salary paid by the foreign LLC would not be subject to US Social Security and Medicare Tax. And, it would be eligible for the ...
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2 answers
54 views

Can F1 students in the US earn Social Security work credits?

Assume a typical F1 student in the US. No side gig, focusing on their PhD work, getting a stipend from their school and possibly doing summer internships using CPT. Can they earn Social Security work ...
-1 votes
1 answer
33 views

Would foreign stocks held in a US brokerage account by a nonresident alien be subject to US estate taxes?

Suppose a non-resident alien investor has a US brokerage account at a US stock brokerage firm that has access to many foreign stock markets. The investor uses the US brokerage account to buy shares of ...
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0 answers
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Adding a branch code to my swift code, is there a difference?

I have been receiving money from Romania to Indonesia using the swift code CENAIDJA for the past two months. This month there was an error in the swift code but when the sender added 'XXX' making it ...
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3 votes
1 answer
299 views

US Social Security taxes while working for Canadian employer but living in third country

https://stackoverflow.blog/2021/02/19/podcast-314-how-do-digital-nomads-pay-their-taxes/ got me thinking, how would a United States citizen, living in Taiwan (which has no Social Security totalization ...
-1 votes
1 answer
125 views

How can I know before paying whether the payment will incur foreign transaction fees?

I live in the US and have a Bank of America credit card with 3% foreign transaction fees. From time to time, I order something online in USD from a firm whose headquarters is outside the US but may ...
0 votes
0 answers
19 views

Paying into and managing a UK JISA while resident abroad

We plan to move abroad permanently but want to open a JISA for the little one ASAP, while in the UK. Does anyone know what problems there would be with holding, paying into and managing a stocks and ...
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1 vote
0 answers
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Transfer money internationally via wire transfer, provided intermediary SWIFT but not intermediary account number

I want to send money from the U.S. bank to one of the Georgian Republic banks. Georgian bank provided me with an intermediary bank SWIFT but not an intermediary account number, and the banker told me ...
-5 votes
1 answer
312 views

Why do homes lose 50% of their value every decade in Turkey?

Homes lose about 50% of their value every decade in this country. Why is that? Source: 2014 - present https://www.zingat.com/ankara-bolge-raporu 2005 - 2015 https://www.zingat.com/blog/istanbulda-10-...
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0 answers
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Do I need to charge GST to US based client?

I have been working (Website Automation Testing in Java Coding, Selenium) for a US-based client since October 2021. I send him an invoice every month addressing his registered company in Massachusetts ...
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0 votes
1 answer
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Is it possible to track down the intermediary bank(s) used in an international wire transfer?

I have some small amount of US dollars (< $500) wired from China to my credit union in US monthly. There are extra fees deducted recently by the intermediary bank(s). I'd like to find out who the ...
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31 votes
6 answers
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Is "bank.gov.ua" the official website of the central bank of Ukraine?

Numerous websites have been encouraging people to donate to Ukraine, to their official government, via this website. (Note: ctrl+f "en" to find the English switcher.) Is this website legit (...
1 vote
1 answer
72 views

AMS points as taxable income when living and paying taxes in EU

I have been invited by Mathematical Reviews to perform reviews of articles. As compensation, I received some AMS points, which are redeemable as credit toward future purchases of books, etc, from the ...
2 votes
2 answers
127 views

Where do international students pay taxes?

I am a citizen of one EU state studying in Germany and would like to start investing. As far as I am concerned, I am considered only "temporary living" in Germany. In this case, where would ...
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1 vote
0 answers
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Pros/Cons of Foreign Ordinary Shares vs International Markets

As a US investor I have several options to invest in foreign equities: Direct investing in a foreign market (ASX, TSX, TSXV, etc.) ADRs (Y-class shares on OTC, not always a 1:1 ratio) Foreign ...
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1 vote
1 answer
110 views

Gift from foreign parents

I work in the USA on a visa. My parents gifted me 99.97k in 2021. When I look online, I get the impression that I don't have to do anything since the limit seems to be 100k when the gift is given by a ...
0 votes
1 answer
95 views

On what basis do countries repay international loans? [closed]

Most countries have their own sovereign currency. Essentially they can print their currency. So how do countries repay their loans? And a similar question would arise while granting a loan to another ...
1 vote
1 answer
129 views

Do the French tax authorities require French Forms 5000 and 5002 to be original, or can they be copies/scans?

I wonder whether French Form 5000 (mirror 1, mirror 2) a.k.a. CERFA 5000 and French Form 5002 (mirror) a.k.a. CERFA 5002 need to be original when sent to the French tax authorities (a.k.a. the Fisc),...
0 votes
1 answer
107 views

Best way to pay taxes (German citizen living in US to work internationally)?

I am a German citizen living in the US on a J1 visa. I got an offer to work part-time remotely for a company in the UK. This company could hire me or I could work for them as a freelancer. Germany has ...
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2 votes
1 answer
92 views

Do American brokers and banks report client information (account size, balance, yearly profit) to client's country?

Do American brokers and banks report client information (account size, balance, yearly profit) to client's country? Question is ONLY for NON-US citizens. Client's country refers to Where client lives....
5 votes
0 answers
74 views

Social Security, expat, and small side business

I plan to retire soon. I am an American and I expect to get about half my retirement income from Social Security. I have not reached full retirement age. (I'll be 63.) I own a tiny side business that ...
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1 vote
1 answer
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Is there any upside in owning American depositary receipts (ADR) instead of owning the underlying stock directly, if that's possible?

American depositary receipts (ADRs) have some fees, their own risks and a few other downsides. Is there any upside in owning ADRs (e.g., AXAHY) instead of owning the underlying stock directly (e.g., ...
0 votes
1 answer
61 views

Is the signature of a non-US branch of a US financial institution accepted by the French tax authorities for French Form 5000 a.k.a. CERFA 5000?

I am a US tax resident and I am currently outside the United States. I have to complete French Form 5000 (mirror 1, mirror 2) a.k.a. CERFA 5000, which requires to obtain the signature of a "US ...
4 votes
1 answer
96 views

Status of US brokerage account of non-domiciled citizen

I have a brokerage account with Ameritrade (now owned by Schwab) that I’ve held for almost 25 years with almost all my savings there. Recently I left the US and have decided to settle in Spain. Can I ...
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0 answers
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How to setup a canadian CIBC bank account, from the US?

I am an international student (US citizen currently residing in the US). I will be going to university in Toronto Canada in a couple of weeks. I have arranged to pay rent for a single room apartment, ...
1 vote
1 answer
80 views

Criteria applied for residency if none of the countries is claiming the individual as resident

In tax treaties based on the OECD Model Tax Convention, each contracting state details who it claims to be a resident (Article 4, Section 1), then a cascade of criteria ("tie-breaker rules") ...
3 votes
2 answers
346 views

Should a small fry investor even bother with traditional brokerage firms?

I've done a bit of research and it seems that Ireland doesn't have a huge amount of firms that handle investment portfolios. I found: Zurich, Davy, Irish life, Aviva, and anything that offers ...
0 votes
0 answers
42 views

Is any international (ie. non-U.S.A.) foreign financial securities market tax free or significantly less taxed than USA markets?

Hypothetically, is it possible to buy and sell some kind of financial security (ie. stocks, currency, even crypto) in some foreign market and keep the money there and pay no taxes as high as short-...
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0 votes
0 answers
43 views

US Resident Buy and Sell outide of USA- Do I owe tax other than the income tax?

I am a resident of USA. I purchase goods online from a supplier in the Philippines. My buyer is also based in the Philippines and is responsible for pick up from the supplier. Therefore, the ...
1 vote
1 answer
1k views

Japanese scammer through shipping proxy

Someone close to me was scammed the following way and I'd like to know which course of action to take is best. The buyer is based in Denmark and bought a product from Yahoo Auctions (Japan). To do ...
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5 votes
1 answer
53 views

Set a direct debit with an UK bank as a EU citizen moving to UK

My girlfriend (EU resident - Italian) is moving to London for 5 months beginning next Jul for a research placement. The college where she's staying asked her to pay the rent via Direct Debit at an U.K....
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2 votes
1 answer
49 views

Authorization for someone to cash a government check issued to me while I am residing abroad

I live in Sweden. I was issued a check from the US Government but Swedish banks do not honour foreign checks ... and the US Government refuses to put the amount directly into my Swedish account. If I ...
2 votes
4 answers
210 views

Round up of advantaged retirement investment approaches in the US?

My friend in the US (I don't live there permanently) has a Youth who has started work as a teen while at school/college ("at Starbucks" type of thing) and we were discussing the various ways ...
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2 votes
0 answers
51 views

Why does Turbotax ask to enter Form 8938: Interest II schedule even when there is no interest?

Does the IRS require me to enter Form 8938: Interest II schedule even when there is no interest, or is that just Turbotax asking for unnecessary information? The same issues arise for all other Form ...
1 vote
1 answer
188 views

Why does the IRS require US taxpayers to report dividend income per country when seeking foreign tax credit?

I read in the Turbotax instructions in the section "Deductions & Credits" -> "Income From Foreign Countries" for dividend income: When you have foreign income from multiple ...
0 votes
1 answer
71 views

My bank account changed country and IBAN during the year: which address and IBAN should I use in Turbotax, when filing for my US taxes?

I have a bank account with Revolut. As a result of Brexit, Revolut moved my bank account from Revolut UK to Revolut European entity in Lithuania (“Revolut Payments UAB”) on Nov. 6, 2020, and changed ...
0 votes
1 answer
115 views

Can I gift cash to relatives for investment and they give back to me later?

I am currently working at USA holding H1B Visa, and obviously I'm a foreigner, and my parents are not American resident, which means they are not subject to any American Tax, (10% dividend might apply,...
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1 vote
0 answers
32 views

Purchasing international stock or OTC F share equivalent?

I asked this question and got a great response by Flux, now I am faced with another dilemma: Purchase the OTC F share or the "original" on the respective exchange? My broker is Fidelity, ...
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1 vote
0 answers
28 views

How to ownership-transfer inherited securities from a foreign brokerage?

I have inherited a set of stocks that sit on the Swedish Stock exchange (in an Avanza brokerage) from a deceased relative. The stocks are still currently in the name/ownership of the still-living ...
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3 votes
3 answers
464 views

Is it possible to comprehensively compare personal tax rates between countries?

I am trying to compare the "effective income" for several countries, by comparing (gross) salaries from sites such as levels.fyi, and estimating how much would be left for actual spending ...
0 votes
3 answers
208 views

Someone I know via Facebook and who lives in Pakistan wants me to send him money - should I?

A Facebook friend of mine named "Eve Amar Saab" has asked me to send him money via Moneygram to him. He lives in Pakistan. However, he gives me a different name-"Shaban Masih Karamat ...
1 vote
1 answer
345 views

What does Turbotax mean by "This account did not have income, deductions, or credits associated with it in [year]"?

I use Turbotax to prepare my taxes in the United States. When declaring foreign financial account, Turbotax asks: What does Turbotax mean by "This account did not have income, deductions, or ...
-1 votes
1 answer
158 views

My friend wants to wire transfer money from overseas through my account. Do I get taxed for this?

So long story short, my friend is stuck overseas outside of U.S and in order to wire his money (about $8000-9000) through a bank, he has to do it in person for international wire transfers. My friend ...
1 vote
0 answers
83 views

How can one plan ahead to avoid the taxes stemming from becoming/being a "covered expatriate”?

When discussing the indication of renouncing one's US citizenship or US lawful permanent residency (= green card), I was told that: There will be an exit tax if you relinquish and you were 1) a US ...
1 vote
0 answers
38 views

how do I report my wife's 1042-s when filing jointly after she's made the election to be treated as resident alien 6013(g)?

My wife is a G4 visa holder and an employee of an international organization. She has a bank account (UNFCU) in the US where she receives interests. The bank issues 1042-s and not 1099-int. Last year ...
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1 vote
0 answers
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Married filing jointly, whose name & SSN/TIN should go on 8938 for spouse's foreign account?

I am required to file 8938 as I am filing jointly with my wife. She has 2 foreign account in her home country. On 8938, the first items are: Name(s) shown on return. should this be both our names ...
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1 vote
1 answer
85 views

Must Israeli citizens who do not reside in Israel pay for the nationwide Israeli healthcare system?

businessinsider.com claims that: Healthcare in Israel is universal and, by law, all citizens and permanent residents must participate in it. I find this surprising, as typically citizens who do not ...
1 vote
0 answers
22 views

Legally avoiding foreign Tax on Junior and Investment ISA while living abroad

I love the ISA investment account and I'm now considering investing in a Junior ISA for my newborn son. I understand that if you have any these accounts open while you live abroad then you are not ...
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2 votes
1 answer
72 views

Can I expect my status at an international bank to travel with me?

I have a Citigold account in Taiwan where I meet the local requirements for that status. Is it reasonable to expect Citibank in the US to open a Citigold account for me there as well just based off of ...
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