I have been tarding currency with a US broker for about 6months, is my profit from currency trading taxable?
Thanks
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Tax question
- Strong Eagle
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- Strong Eagle
- Moderator
- Posts: 11504
- Joined: Sat, 10 Jul 2004 12:13 am
- Location: Off The Red Dot
- Contact:
First of all, are you local? holding PR or a Singaporean.
2. Do you register a company for this trading?
3. In US you need to pay tax too and the tax is not cheap.
4. Safest place to put the money without being taxed are tax free heaven. Eg Vanuatu, Isle of Man and etc. But it also apply to your nationality, company registered address and the country you stay.
Different country has different Tax law/ act. If the trading company you used apply Sarbox act, then probably your income is trace-able.
2. Do you register a company for this trading?
3. In US you need to pay tax too and the tax is not cheap.
4. Safest place to put the money without being taxed are tax free heaven. Eg Vanuatu, Isle of Man and etc. But it also apply to your nationality, company registered address and the country you stay.
Different country has different Tax law/ act. If the trading company you used apply Sarbox act, then probably your income is trace-able.
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