Sounds like you need to file a U.S return for that income. In terms of the DR, they do have a tax on worldwide income if you reside in the country for more than 183 days.
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Sounds like you need to file a U.S return for that income. In terms of the DR, they do have a tax on worldwide income if you reside in the country for more than 183 days.
That DR tax will affect me, all US taxes have already been paid on it.
What is the rate of that income tax from the DR?
In which case you might be advised to have the money deposited to a USA Account & only draw it out via an ATM when needed in the DR!! ;) ~ Grahame.Quote:
Originally Posted by Trainman33
Sounds like a good idea but only 1 banks ATM works in the DR for me, BHD bank.
Only on income from financial sources, not on any other type of income, and this only after the 3rd year of residency.Quote:
Originally Posted by AndyGriffith
Bonds would be financial sources..
Mr. Guzman,Quote:
Originally Posted by Fabio J. Guzman
Does the 3 year exemption only apply thru some type of residency program for foreigners or does it also apply to foreigners whom obtain residency thru marriage?
I'm correcting myself, I found out that Popular and Scotiabank also work with Bank of America. However I havn't seen any Banco Popular in Santiago.
I just found out I will also be receiving income from oil and gas holdings that my grandfather had.