I have spent a fair amount of time searching the internet and ET website, but haven't been able to find much information on how trading gains are taxed outside of the United States for non-U.S. citizens (because if you are a U.S. citizen, you're taxed no matter where you live). There are a lot of locations that have a different rate for capital gains (sometimes 0 and sometimes distinguishing between short-term and long-term), but does that apply to what many of us do here (in and out of positions several times during the trading day)?
For example, Singapore has 0% capital gains taxes, but they appear to treat gains from "trading" the Singapore markets as ordinary income.
On their government website it says "When is it taxable:
To determine whether an individual is trading, factors such as the frequency and volume of transactions, the interval between the purchase and sale, and the manner of financing the purchase of shares, will be taken into consideration.
The three circumstances factors above alone do not determine whether the gains are taxable."
http://iras.gov.sg/irasHome/page03_ektid2716.aspx
That doesn't inspire a lot of confidence as a trader.
I'd be interested in hearing from traders with experience or insight on how we traders get taxed in different countries? Again, I'm curious from the standpoint of a non-U.S. citizen. I'd be interested in hearing about all options (that are legal) like foreign corporations too.
Thanks and Happy New Year
For example, Singapore has 0% capital gains taxes, but they appear to treat gains from "trading" the Singapore markets as ordinary income.
On their government website it says "When is it taxable:
To determine whether an individual is trading, factors such as the frequency and volume of transactions, the interval between the purchase and sale, and the manner of financing the purchase of shares, will be taken into consideration.
The three circumstances factors above alone do not determine whether the gains are taxable."
http://iras.gov.sg/irasHome/page03_ektid2716.aspx
That doesn't inspire a lot of confidence as a trader.
I'd be interested in hearing from traders with experience or insight on how we traders get taxed in different countries? Again, I'm curious from the standpoint of a non-U.S. citizen. I'd be interested in hearing about all options (that are legal) like foreign corporations too.
Thanks and Happy New Year