A Question About Tax

[..::LegalAlien::..]

A brief scenario:

A guy owns an internet based company.

The website is hosted in america, he is british and living in Thailand, all funds are collected by PayPal, and there is a good chance that in the future he will do most (if not all) his banking via Singapore or Hongkong.

Where is this business liable for tax?

[A. BOOZER]

Before worrying about paying tax, I suggest waiting to see if this internet based company is going to show a profit !

[dr_Pat_Pong]

He's applying the CYA rules

[..::LegalAlien::..]

Many thanks Boozer for your extremely informative reply. I shall bear that in mind.

What are the CYA rules?

[gangstar]

I think you'll find that paypal accounts are held of shore and are tax free, your only subject to 2% commission if you open a business account, i would think if you open an offshore account yourself and transfer funds to that you should get away with it, you would probably be o.k putting funds into a u.s or u.k account as long as it was'nt to much and to often,

How big are the sums your talking,

Dont know if you'd get taxed putting into a thai account, i suppose it depands what visa your on better ask dr p or I.T hope that helped a bit more than p.ps,

i noticed if he dont the answer he makes a wise crack