Quote:
|
Originally Posted by johnafacade
Let's just say that there are real implications for any Americans seeking the tax shelters they think Costa Rica provides without some real assistance from professionals in that field. I'd suggest you do some research into the TIEA that CR signed with the US.
Panama's a better bet.  |
Agree John. Costa Rica is not an "offshore" in the true sense - it already has a tax system of sorts, but one that is geo-based (ie a person living in CR where the source of funds is elsewhere, may bring whatever funds they like into the country and this is tax free) whereas businesses operating within the domestic market are required to pay taxes.
Is there such a thing as a tax shelter for US citizens whether they live in the US or elsewhere? There remains the IRS reporting requirement for disclosure on an annual basis.
Costa Rica has an Exchange of Information Treaty only with the US on taxation re US citizens - they have no arrangements, MAT's or EIT's with any other nation.