Do non residents pay tax at all

proger1



Joined: 18/04/2009
Posts: 2919

Message Posted:
21/03/2010 16:32

I have recenty read a few posts that are starting to make me think I should get my little botty covered on certain legalaties.

As a non resident I don't pay income tax but if I were to be involved in say, something like a web site that might some day recieve donations and be considered as recieving NC based funds would I be expected to pay any sort of tax. I don't imagine this would be an issue but I have considered expanding slightly and doing another site that may do promotions and charge for advertisement, I wondered if anyone new of what taxes I would be expected to pay.



Paul

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
21/03/2010 17:47

Even if non-resident in the TRNC you have to pay TRNC tax on any income, earned or non-earned (e.g. rent) in the TRNC. If you take up residence here you can avoid any UK tax. See an accountant if in doubt.

Geoff

Famagusta City

proger1



Joined: 18/04/2009
Posts: 2919

Message Posted:
21/03/2010 17:55

I don't pay UK tax Geoff but thanks for the advice.

And as far as things are, legally I can't be a resident because I am not in the country for 163 days per year although I know from some friends experience that they can change that rule at times to suit them.



I don't mind paying tax on any income in NC either as it is not likely to be much but my main concern is if I have to set the web site up as an NC based business and then require the $100,000 deposit thingy.



I think I will need to go to a financial advisor to get the total understanding but I hoped I might get a little insight first which you have given some, thanks again.



Paul

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
21/03/2010 18:02

jeaz paul its a minefield, no wonder nobody starts anything here be careful love xxxxxxxx