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As far as I know, foreign citizens who have brokerage accounts in US and trade in US are not subject to any kind of tax and/or witholding.
Now, this may only be true for certain countries where there is a tax treaty between the said country and the US, spelling this out; I am not sure.
Am I right or wrong?
Regards,
Levent
-----Original Message-----
From: The Doctor [SMTP:droex@xxxxxxxxxxxx]
Sent: Sunday, June 25, 2000 3:01 PM
To: realtraders@xxxxxxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] Re: R: R: R: Re: R: R: Re: Stocks and futures
Any account which is opened to trade on US exchanges is required to provide a US
tax ID # or the dealer(the brokerage house)has to pledge it's tax id #.
Accounts without a US tax id # are subject to a non resident withholding on ALL
proceeds and dividends. If the dealer doesn't get the information it is
required to withhold... if it doesn't withhold against the customer the
withholding occurs against the dealer account.
I would assume you would have know these details. I really wouldn't take the
time to address these issues. Not being familiar with them seems to confirm
what one might suspect.
Gram wrote:
> Before I tackle your points, would you please explain this better, perhaps
> with an example:
> "You IB or BD is required to conform to non resident withholding or be
> withheld themselves"
> Many thanks,
> Gram.
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