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Can an individual keep investments in a foreign country, only invest in?
foreign companies and not pay U.S. income tax until the money is brought back into the U.S? If so, does the same hold true for estate tax?
1 Answer
- ?Lv 78 years agoFavorite Answer
I think it is quite complicated. It depends on your domicile and the country tax laws where the investment is made. Most investments have tax deducted at source (withholding tax) and some countries have double-taxation agreements others don't. Furthermore some people can be taxed on an accrual basis and others not, but are taxed only when the money is repatriated.
Some countries have a global income taxation basis like UK-any income from wherever in the world is taxable. This also applies to estate tax (inheritance tax).