Hi there, I would like to understand how taxation works. For example, let's say I am an EU resident, currently living in Asia and want to trade via a US based online broker but buying foreign stocks. How do I get taxed? Will the US based firm send in tax forms to my tax resident country or home country? Or is it dependent on which bourses I trade on and how their taxation works? So for example if I trade on the Singapore market, since they don't tax capital gains except dividends, I don't pay taxes, even though it is a US based brokerage? Confusing I know, especially for a newbie!!! Thanks.
scose-no-doubt
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You pay tax wherever you are resident. Some countries may force brokers to withhold tax at source. it;s all in the double taxation treaty/agreement between your country of residence and the country of your broker and possibly the country of the stock your are trading.
I'd think your broker should be able to tell you where you stand.
I'd think your broker should be able to tell you where you stand.
It depends on the double taxation treaty between the country where the asset is located and the country where you are resident
Generally for capital assets the source counrty ie location of asset is where the tax is to be paid
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