On 09/04/2022 14:58, Stuart O. Bronstein wrote:
> While that is strictly true, there is also a tax treaty between the
> US that, among other things, essentially guarantees that a person
> won't be taxed on the same income in both countries.
The tax treaties will give credits for foreign taxes paid but they are
nevertheless taxed in both countries. For example, if a UK resident pays
tax in the UK on his primary income derived in the UK then UK has first
priority to tax him but US might also be interested in his income and
tax him accordingly at the rate applicable in the US. BUT and big BUT
that a credit is given for any taxes already paid in the UK. That is
what we do in the UK on foreign income and I guess this is all governed
by OECD model <https://www.oecd.org/tax/treaties/
> for tax treaties applicable world wide. If the tax rate in
the US is higher than UK then the difference is payable in the US
otherwise no tax is payable in the US.
Rishi Sunak, British Finance Minister, has a property in the US where he
visits twice a year with his family. His wife also has a Green Card but
is Indian Citizen because India doesn't allow its citizens to have dual
nationality. Both Husband and Wife are US graduates from Stanford
University (MBA) and both have worked in the US before they came to the
UK to settle down. Both are millionaires in their own right and nobody
is claiming that their wealth is from illegal activities. Wife is the
daughter of InfoSys founder based in India and Rishi Sunak also comes
from a very wealthy family but we know very little about his parents.
Indians are generally very private people.
> And why would the US care if he had a green card? I can't think of a
> single reason. If anyone would have a problem with that, it seems to
> me, it would be the UK.
I agree this and the reason this story is in the public domain recently
because Boris Johnson is in real trouble because of PartyGate scandal
and he could be replaced and the likely candidate to replace him his
Rishi Sunak. the story is licked by Downing street insiders, so it claimed in the papers.