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Author Topic: Taxes on foreign stock or endowments  (Read 3118 times)

Emilez

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Taxes on foreign stock or endowments
« on: February 22, 2010, 03:19:52 PM »
When living in the Philippines, are there taxes on owning foreign stocks? How about endowments?

Since the stocks in an endowment is not legally owned by me it should probably not be taxable in the philippines, right?

Offline GregW

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Re: Taxes on foreign stock or endowments
« Reply #1 on: February 23, 2010, 02:45:23 AM »
Where is the income derived from?† As a general rule income derived from outside the RP is not taxed in the RP.† Income earned in the RP is of course subject to RP taxes.

You would be wise to seek the counsel of a professional tax consultant for the definitive answer.

Ako si Goyo.†† Amerikano akong lawas pero Bisaya akong kasing-kasing

Offline tom.inbigdtexas

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Re: Taxes on foreign stock or endowments
« Reply #2 on: February 23, 2010, 03:56:02 AM »
Since the stocks in an endowment is not legally owned by me it should probably not be taxable in the philippines, right?

Unless you are a hospital, church, university or some similar institution, you usually are not the recipient or beneficiary of an \"endowment.\"† Do you mean \"trust\" or some other type of fund?

At any rate, if the \"fund\" was established outside the RP, and the passive income is paid to you from a source outside the RP, and all you do is transfer monies from your foreign account to the RP... very unlikely you would have any RP tax issues.

Tom in Big D





Dallas, Tx, USA
Mactan, Cebu, PH

c_a_p_t_a_i_n_r_o_n

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Re: Taxes on foreign stock or endowments
« Reply #3 on: February 23, 2010, 08:56:14 AM »
Since the stocks in an endowment is not legally owned by me it should probably not be taxable in the philippines, right?

Unless you are a hospital, church, university or some similar institution, you usually are not the recipient or beneficiary of an \"endowment.\"† Do you mean \"trust\" or some other type of fund?

At any rate, if the \"fund\" was established outside the RP, and the passive income is paid to you from a source outside the RP, and all you do is transfer monies from your foreign account to the RP... very unlikely you would have any RP tax issues.

Tom in Big D


He probably means an endowment policy

An endowment policy is a life insurance contract designed to pay a lump sum after a specified term (on its \'maturity\') or on earlier death. wikipedia

Again exempt from RP taxation