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Subject:  Non US -Expat in Asia, Investing in USA Date:  2/20/2012  12:49 AM
Author:  kanyapro Number:  115148 of 129771

Hi To All,

My first post here, so I hope you can be gentle with me! Apologies if this has been asked a 100 times before. If so, please feel free to fob me off with a link to the thread accompanied by an exasperated Humpf.. why didn't he bother looking hard enough!

I am a European Expat living in Malaysia. My wife (also Non-US) and I have an active e-trade account which was opened up while we were working in the US.

We both have SSN and American bank accounts, although we have not lived in the States for nearly 3 years. we submit our W8BEN religiously every year.

No tax treaty exists between Malaysia and USA. Looking at a PWC report on the subject it states "for individuals who are resident or non-resident in Malaysia, investment income which arises from sources outside of Malaysia are exempted" Same goes for capital gains - so far so good.

So say My wife family, and I stay here for another say 10 years, and dutifully submit our WEBEN to keep Uncle Sam off our back, we will not need to pay any local Malaysian taxes.

So Here's my question(s)

Let's say that in 2022 we decide to move back to Ireland, and the 10 dollars we have invested has grown to 50 dollars.

Is it then that I would theoretically have to declare to my lovely Irish Revenue board any Capital gains on anything over the 50 dollars for that year, and every year thereafter, and that I am NOT subject to any gains made while I was living in Malaysia? My rudimentary research tells me that I'll have to pay at today's rates upwards of 30%! That's a spicy meatball, which ever way you look at it.

Many thanks to all who who have taken the time to read, and perhaps offer a newbie some advice

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