Banks, Accountants and advisors
We believe the best information will come from the tax service of the government.
Accountants and tax advisors are useful as a rapid way to find information about the system and rules. Of course you pay for the speed and convenience. You should always ask the name of the rule or law that he is applying and then check it yourself directly with the government tax department. Mostly they publish their information online so in the internet age, this is easier than in the past.
The reason we recommend this approach is not that we think accountants are bad. The reason is that if what they did is not quite right you get the extra tax bill and the fine. You always sign off on the forms and it is your responsibility that it's right. That means you get to pay when it isn't.
Accountants and advisors will be listed here and for anyone that has trouble understanding the tax rules, they are recommended. However you should see them as advisors and educators NOT as judge and jury. They should tell you which rules apply to you, you should check that with the tax department or inland revenue.
Banks sometimes also have advisors. These are almost always nothing less than sales staff. They are paid (often on commission) to sell the bank's products.
They will advise you which products you can buy but will often advise those products with the most commission for them not the product that is best for you. Banks pay the highest commission on products that make the most profit for the bank. The days of cosy chats with a bank manager who cares are history.
The Tax Department or Inland Revenue
The government department that determines all the rules for who has to pay tax and how much is usually called the Tax Department or the Inland Revenue. In Spanish speaking lands it's called Agencia/Administracion Tributaria.
Remeber that THE government does not exist. Remember, you are only influenced by the rules of governements where:
- you live part of the year
- you receive income
- you hold nationality
Often they put all their information online. Many foreign governments even translate everything into English.
Government websites:
The information you need to find is
- The rules for when you become tax-resident
- Whether a resident pays tax on worldwide income or only remitted income
- The tax allowances and rates for residents if you plan to becoma tax-resident
- The rules on taxation of investment or real estate income if you have income sources in that country.
- The tax allowances and rates for non-residents if you have income there.
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