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Hi,
Any tranfer on money is subject to the tax but this area is somewaht vague for its intent. Would a transfer of funds to buy property also be subject to the tax?
Any money in the USA is taxed by the new law. Your CD in the USA is no exception. YOU OWE TAX TO CR FROM ALL USA INCOMES AND YOU MUST DECLARE ALL ASSESTS.
Hoping that an ATM transaction is not traced is folly. It is electronic and subject to the most and easiest scrutiny.
DOUBLE TAXATION IS A MINOR POINT AS IN TIME THE USA AND CR WILL CREATE A TREATY. BEFORE THE TREATY IS DONE, HOWEVER, YOU ARE POTENTIALLY SUBJECT TO DOUBLE TAXATION. AFTER THE TREATY, DOUBLE TAXATION IS SOMEWHAT AVOIDED BUT YOU STILL PAY THE HIGHER TAX OF EITHER COUNRTY . AS THE CURRENT LAW IS CONSTRUCTED, YOU WILL PAY ALOT MORE TAX.
AS FAR AS THE NEW OURT RULINGS GOES, THE COURT REJECTED THE LAW BECAUASE A 2/3 MAJORITY IS NEEDED , NOT THE 50% .
The President is now creating a new tax law.
