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Masami Hibino

Global tax liability

We know that US tax responsibility is based on global income as opposed to strictly US related income. Doesn’t this create problems such as double taxation?

Answers

Marko Issever
May 28, 2018 04:57 PM  Marko Issever

Absolutely not. US has a tax treaty with most countries in the world. After they receive the conditional green card, if the investor continues to have income in their home country, this income is added to their global income including their earnings in the United States if any. Based on their consolidated income, a US tax liability is calculated. However, in most cases the taxes paid on the foreign income is deducted and the investor is only liable to pay the tax due on the difference. In other words, the tax liability is calculated as if all the income was earned in the US. Instead of paying IRS this sum, the investor in most typical cases is able to deduct the taxes paid to other jurisdictions and owe IRS only the balance.

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