Treasury released a consultation paper entitled “Strengthening the Foreign Resident Capital Gains Tax Regime.”August 27, 2024 Treasury on July 23, 2024, released a consultation paper entitled “Strengthening
A resident alien is an individual who is not a U.S. citizen but is considered a resident of the U.S. for tax purposes. Resident aliens are subject to U.S. federal income tax on their worldwide income, similar to U.S. citizens. There are two main ways an individual can be classifie...
Foreign Resident Capital Gains Withholding Tax – Draft Legislation ReleasedBetsyAnn Howe
Advisory for residents who sold property without clearance certificate claiming foreign resident capital gains withholding tax credit
Your first question might be about who – or what – is a U.S. person. For purposes of the FBAR requirements, a “U.S. person” includes: U.S. citizens resident aliens business entities – such as corporations, partnerships, and limited liability companies – created or organized i...
外籍居民。外国
Substitute Form W-8BEN-E (applicable to Active Non-Financial Foreign Entities) : This is an HSBC form, aimed at trading businesses and companies which are a Hong Kong tax resident only , to sign in place of one of the US W-8 series tax forms for the purpose of trading US stocks. Ple...
citizen or a resident alien. A resident of a foreign country under the residence article of an income tax treaty is a nonresident alien individual for purposes of withholding. Married to U.S. citizen or resident alien. Nonresident alien individuals married to U.S. citizens or resident aliens ...
Recently, the Central Board of Direct Tax (‘CBDT’) has issued a notification notifying Rules for granting of Foreign Tax Credit (‘FTC’) to resident taxpayers on income earned in foreign jurisdiction (hereinafter referred as ‘foreign income’).
Resident aliens for tax purposes face the same reporting requirements as U.S. citizens. Nonresident aliens may have FATCA obligations if they hold U.S. assets or receive U.S. source income. Individuals must file Form 8938 with their annual tax return to report specified foreign financial assets...