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Philippine stock

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rob_45ca:
I am just setting up my account with one of the online brokers there, so I will have to let you know how thing go.

Rick B:
Rob

Good luck with this, it won\'t be easy, in a rising market seems like printing money but if it were easy we would all be doing it, always seemed like a shot in the dark to me, but i know nothing. Worked in HK in the 90\'s and there was a crisis at the hang Seng levels around 17,000, now they are at 24-25thsd, i know they are tied to the US$ there where there has been a decline in rate balance, but anyway seems, well to be honest seems way out of my depth to predict, good luck

Manila Cockney:
As somebody who has brokerage accounts in 3 different countries, I often get asked why I dont have an account here. Being a UK citizen, non resident of UK and resident of Philippines, it does not make sense for me to have an account here as I would have to pay tax on the gains. In the other countries I have brokerage accounts US, UK and Hong Kong I do not. If I wanted to invest in Philippines stock market better for me to do it through a Hong Kong mutual fund or ADR as it would be free of tax.† †

fred:
Manila cockney.
Why do you not have to pay tax on your gains† from the UK stock market?
I thought that all income earned in the UK was taxable to a Brit even if he is a non resident? Tax on Bank interest and pensions for example.
I would be interested in reading your answer as I have a dabble on the London AIM market from time to time..
Having said that I doubt I ever earn enough from it to be tax liable..Not recently anyway!


:

--- Quote from: Manila Cockney on February 13, 2008, 02:10:09 PM ---As somebody who has brokerage accounts in 3 different countries, I often get asked why I dont have an account here. Being a UK citizen, non resident of UK and resident of Philippines, it does not make sense for me to have an account here as I would have to pay tax on the gains. In the other countries I have brokerage accounts US, UK and Hong Kong I do not. If I wanted to invest in Philippines stock market better for me to do it through a Hong Kong mutual fund or ADR as it would be free of tax.† †

--- End quote ---

Fred,

I think you misunderstood, MC said:


--- Quote ---resident of Philippines, it does not make sense for me to have an account here as I would have to pay tax on the gains. In the other countries I have brokerage accounts US, UK and Hong Kong I do not.
--- End quote ---

So I think he was referring to tax on an account here not UK.

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