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  1. #1
    Affiliate Manager
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    Taxes for offshore company?
    I head an offshore company in the UK that is not subject to taxes there. I live in Panama and operate the company from here. What involvement, if any, does the company have with U.S taxes?

    Sydney

  2. #2
    ABW Ambassador ladidah's Avatar
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    What nationality are you?

    I think that depends on which country you are citizen of. Each country has their own rules.

  3. #3
    Affiliate Manager affilorama's Avatar
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    Your Accountant will be the best person to provide advice on this subject as these things can vary by where you are
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  4. #4
    Affiliate Manager
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    Quote Originally Posted by ladidah View Post
    What nationality are you?

    I think that depends on which country you are citizen of. Each country has their own rules.
    Mongrel! I have dual nationality: UK and Canadian but I am a permanent resident of Panama where I pay no taxes.

  5. #5
    Affiliate Manager
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    Quote Originally Posted by affilorama View Post
    Your Accountant will be the best person to provide advice on this subject as these things can vary by where you are
    I will ask him when he is here March 11 from Canada. Thank you!

  6. #6
    Merchant & ABW Ambassador
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    It might be more trouble than it is worth.

    i.e. Ask those in Australia or NZ and see how often their check or payment is delay/goes missing, etc

  7. #7
    Affiliate Manager
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    Quote Originally Posted by Eric Ewe View Post
    It might be more trouble than it is worth.

    i.e. Ask those in Australia or NZ and see how often their check or payment is delay/goes missing, etc
    Hi Eric!

    I already have the offshore company and bank account in the UK. And, yes, it was a heck of a lot of trouble and expense. But nothing will go astray via our merchant account. I just want to make sure that is we get affiliates in the U.S we don't run into U.S tax problems.

  8. #8
    Outsourced Program Manager Chris -  AMWSO's Avatar
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    Hi Sydney

    I'm in the same situation (Thailand rather than Panama though ) and pay no US taxes, that said I have nothing incorporated in the US either. Ultimately though ask your accountant as he's the professional

    Cheers

    Chris
    Last edited by Chris - AMWSO; March 1st, 2011 at 01:10 AM. Reason: typo
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  9. #9
    Outsourced Program Manager Chris -  AMWSO's Avatar
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    I just want to make sure that is we get affiliates in the U.S we don't run into U.S tax problems.
    Just read that bit in your other post. In this case not really sure, if you're a merchant selling a product in the USA via affiliates I am not at all sure how that applies within the nexus laws that exist in some states....

    Affiliates are responsible for their own taxes. I don't imagine there is any tax payable by you on that.
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  10. #10
    Full Member Lanny's Avatar
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    Consult with an I.R.S. Enrolled Agent or a Tax C.P.A., in the USA
    Quote Originally Posted by stremayne View Post
    I will ask him when he is here March 11 from Canada. Thank you!
    I respectfully suggest to you that you obtain information regarding the possibility of you needing to comply with U.S. Tax Laws, from an I.R.S. Enrolled Agent or a Tax C.P.A., IN_THE_ U.S.A.

    If you were a U.S. Citizen or a Permanent Resident of the USA, your worldwide income would be subject to U.S. Tax Laws. However, that does not seem to be the case.

    Whether or not your company has U.S. Tax issues is another matter. Since you are concerned, I do believe you should consult a tax "expert" in the U.S.A.

  11. #11
    Affiliate Manager
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    Quote Originally Posted by Chris - AMWSO View Post
    Hi Sydney

    I'm in the same situation (Thailand rather than Panama though ) and pay no US taxes, that said I have nothing incorporated in the US either. Ultimately though ask your accountant as he's the professional

    Cheers

    Chris
    Hello Chris!

    I am glad to hear your news! I studiously avoided any connection with the U.S because I already know that would mean taxes. That is why my company had to be established in the eurozone (for the merchant account). My accountant and new CFO will be here in Panama from Canada March 11 and we will talk then.

    All the best,

    Sydney

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