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The Tax Thread
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The Tax Thread

  #221 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
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Tinwoodman View Post
Hey guys

Can anyone help me with question on taxation?

I'm a citizen of Republic of Armenia, if I open trading account in US or UK based company which taxes I have to pay?

And is there difference if I trade stocks, futures, options or Forex?

In the United States you sign a form called W8 which is "Certificate of Foreign Status of Beneficial Owner for United
States Tax Withholding and Reporting (Individuals)" This means that you are not paying taxes in the USA rather it is your own individual obligation to pay it in your own country.

I believe this applies to all asset classes and if you are not a citizen or resident of other countries, they would have a similar form. You need to also ask your broker is there are any treaties between your country and the country of your brokerage where other laws may apply.

Here is an example of such form in the USA -- W8

I hope this helps.

Thank you,

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #222 (permalink)
Trading Apprentice
Yerevan, Armenia
 
Futures Experience: Beginner
Platform: MetaTrader
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mattz View Post
In the United States you sign a form called W8 which is "Certificate of Foreign Status of Beneficial Owner for United
States Tax Withholding and Reporting (Individuals)" This means that you are not paying taxes in the USA rather it is your own individual obligation to pay it in your own country.

I believe this applies to all asset classes and if you are not a citizen or resident of other countries, they would have a similar form. You need to also ask your broker is there are any treaties between your country and the country of your brokerage where other laws may apply.

Here is an example of such form in the USA -- W8

I hope this helps.

Thank you,

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Thanks, mattz, that really helps.

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  #223 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
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Still very early to know what, or if anything, gets passed but this is an interesting discussion of the potential implications. Especially for business traders with entities.

Green Trader Tax :- How Tax Reform Framework Impacts Traders And Investors
https://greentradertax.com/how-tax-reform-framework-impacts-traders-and-investors/

Disclaimer:- I'm still a Tax Client of Green, Neuschwander & Manning an affiliate of Green Trader Tax

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