New Protocol Amending the Income Tax Treaty between the United States and SpainSam LichtmanLarry B. PascalKenneth K. Bezozo
For anyone who falls within the US and UK income tax systems, it is essential to understand how the tax treaty between the two countries works. Double taxation is a distinct possibility without careful planning. The US-UK income tax treaty provides solutions, but its application is not always...
income tax at the rate of 30%, unless a reduced rate or exemption under a tax treaty applies. Five rules to guide foreign real estate investors thru US law As complicated as individual taxes may seem, individual tax compliance was actually eased substantially by the Tax Reform Act of 1986,...
Colombian tax residents who, as of January 1 of each year and in the case of the year 2023, have assets abroad for a value greater than $18,849 USD, have the obligation to file a“foreign asset tax” in the country abroad that has the same expiration date as the income tax. Foreign...
Only Colombia’s rate would be higher, but I don’t count that country as being part of the developed world since it’s per-capita GDP is only about half the level of the poorest nations in Western Europe (the OECD added Colombia and Mexico as members primarily to counter accusations that...
France and Panama signed on June 29 a double tax treaty, DTA, between the two countries. The treaty will come into force after ratification by both countries. France GDP up 0.6% March 2010 The French Institute of Statistics announced on March 30, 2010 that the GDP in the fourth quarter of...
Once the U.S.-Chile Tax Treaty is finally entered into force, it will mark a material expansion of the U.S. bilateral income tax treaty network in Latin America. Chile will represent the third Latin American country (alongside Venezuela and Mexico) with a bilateral income tax treaty with th...
discusses the detail of theGibraltar Spain Tax Treaty here. The Tax treaty between the UK and Spain in relation to Gibraltar came into force on 4 March 2021. The first reciprocal exchange of information contemplated by the Treaty was conducted in June 2021. Further, as contemplated by the Trea...
Mistake #1:US passport holders receiving income from countries with no tax treaties are safe from US tax. “Oh hell no!” If no provisions cover a particular kind of income by said treaty, or if your country does not have a US tax treaty, US tax rates apply, following the US tax Gui...
4. You are a resident alien of a country with an income tax treaty with the U.S. A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect and who is a bona fide resident of a foreign country or countries f...