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by sundaymorningstaple » Sat, 09 Feb 2019 8:01 pm
The danger with "not ordinarily resident" and "floating" is that his passport home is likely to become his tax home as one has to have a tax residencey and if no other country has him for the required length of time to be considered as tax resident, his country will probably be able to claim him for that purpose. This could make you end up like being a US resident were one country is going to tax you on your world wide income. I would suggest talking to an international experienced CPA on this regard before you find yourself in hot water possibly in several places as most places don't claim tax residency if under 183 days because they assume you will be taxed elsewhere. Should they find out you are not tax liable in any single country they are going to want to have their fair share, 183 days or not.
The other issue is you could end up paying Non-resident tax rates like Singapore does if you do not qualify for residency and you were here more than 60 days then you will be liable for a flat 15% tax rate on you entire income earned in Singapore without deduction. Be careful, very careful.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers