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I have to confess I do not understand what you mean when you say 'a collective
investment scheme (in the Channel Islands, for example)'.
Who is making the 'investment' decision for the scheme, and, more importantly,
where is he located? If the decision maker is in the US, I would think it hard
to claim the 'scheme' is in the Channel Islands, but not in the US, for tax
purposes.
Regards
DanG
Gram wrote:
>
> >In other worlds, it is hard to cheat the taxman in the US, even when you
> >go abroad.
>
> Also not so straightforward. It is not a question of cheating, not a
> question of evasion, but a question of planning - organizing your affairs
> (fiscal and none) in a suitable to you and the taxman.
>
> A collective investment scheme (in the Channel Islands, for example) could
> manage money from there trading in most exchanges (futures, options, forex,
> etc.) The problem arises when the members take their share of the profits.
> How much they can keep personally depends on where they physically reside
> (and oone or two other factors).
> Of course, this is summary, as each case needs to evaluated on its own
> merits.
> What is erroneous is the notion that the IRS (or anyone else) can stick its
> nose, willy nilly, into the running of a company based in another country,
> especially if it is run in line with that country's laws.
>
> Double tax laws are of course to be taken into account where approporiate.
> >Regards
> Gram,
>
> >DanG
> >
> >
> >
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