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Financial Planning / Tax Strategies


Subject:  Foreign investors and tax Date:  3/11/1999  2:08 PM
Author:  Wazir1 Number:  11983 of 128041

I have a relative who is a citizen of an Asian country and lives there permanently. He wants to know if he opens an account with a brokerage firm in the USA and invests in stocks of US companies, will he owe taxes to the US government. He thinks since he will not be living in the USA and hence not using any public facilities or benefits, but rather contributing to the US economy by his investment, he will not be taxed. Plus he will have to pay taxes on his worldwide income back home. So he should not be subject to double taxation. I will appreciate if anyone can enlighten me in this regard. Thanks.
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