That can happen although it's a 50-50% chance and if you lose you usually owe them a 50-200% tax penalty plus interests which can hurt. I agree with you but do not think that I've only asked PWC and KPMG. If you go back in this thread then you can see that I've asked local advisors in many countries. I think 8 or 9 in Switzerland alone about the lump sum tax. You know, most advisor says that if you make lot then they'll find a way to tax you. If you don't make much then you're fine in whatever territorial tax country but then why bother going anywhere? Go to the UK, get a job and do some spreadbetting on the side and it's tax-free.
that s possible. hedge fund managers look like an easier target. Yet theyare still fine. problem still is in ur reasonning that one would be taxable for any business activity while travelling by the country is travelling to, they could be hassled for phone calls, business meetings, contracts signed etc... obviously the most famous superich would be huntes on their jigh tax country visits before our homegrown forex maverick DW
I never said that for any business activity. I said traders. Traders who are trading on money markets. Furthermore I never said that you'll get caught as a tourist if you live in another country where you pay your taxes but if you live in a tax-free country and you regularly visit a country and you spend more than 90 days there each year then they may try to tax you and if they find out that you were trading there then you'll owe them some money. If you're not trading but investing or you're just running your business which sells products in another country while you're on your holiday then obviously you won't get taxed.
The over 90days a year is a new twist from ur side. Ur post read more.like : don t piss through a plane s window, it s not safe for other passengers and if u are not a pikey u might get taxed by the local authories below the piss line for ur trading profits made on the plane.
just a few posts ago u challenged Daal to trade on holidays and there was no mention of 90days, as there wasn t in ur earlier post quoted
Buddy, you clearly doesn't read my posts, only those parts which you can argue with. Again: if you live in a tax-free country and you spend enough time in a country as a tourist to get noticed then they may try to tax you if you have locally sourced income such as trading income. If you live in a country where you pay your taxes then it's less likely to happen as they'll have to take into consideration the double tax treaties to know if they can tax your income then they have to check if tax rate you've paid is lower than their or not but it's not worth to chase you for 30% if you've paid 35% in your home country. These things are far more complicated then you say. It's all about your individual circumstances. I didn't say any of those things you say I've said. If you live in let's say Dubai and you spend 90 days in London, 90 days in New York, 90 days in Toronto and 90 days in Sydney (these would be my choices) and if because of any reason they think that you may make taxable income while you're on a tourist visa then it will be really, really easy for them to ask some money. If you do the same while you're a resident in France and you've paid high taxes then chances are they won't bother even if they could ask some money because you would then say that you've already paid your taxes in France. But, again, just to make sure you don't grab one of my sentences and use it in a different context. This is far more likely to happen if you're successful, you make a lot and you spend a lot. If you don't then this is unlikely to happen to you.
It can be any number of days also. Where did I say that they can't tax your local trading income if you spend just 14 days or 30 days? I didn't. I said 90 days because you can spend 90 days in most countries without becoming a resident. I mean you can spend 90 days each year without becoming a resident. You're just grabbing one sentence out of context and arguing with the facts. One thing is sure tough. You can argue with me, you can argue with law but one day if you gonna make a lot and you're going get noticed then you'll pay far more attention to the details and to play by the rules because tax penalties are pretty costly.
u travel the world over time and.time again but didn t manage to stop over in Dubai, despite the convenience to stopover in Dubai between Europe and Asia/Australia and looking for Dubai based tax set up is a red flag btw.
I'll never visit Dubai. I'd rather go to Israel. I'd rather take an Israeli citizenship. I hate unpredictable laws and governments. I hate places where you don't know what's legal and what's not. My layover is SIN, BKK or HKG when traveling to or from Asia. CDG and LHR in Europe (sometimes FRA but Lufthansa is unpredictable because of their strikes).