if someone who was born in peru but actually lives in paraguay, would they receive a tax break for being only a legal resident of paraguay or would they fall under the taxation laws of paraguay like any other citizen of paraguay? how do legal residents differ from actual citizens of any given country as far as taxation purposes go? i know that legal residents of the u.s. fall under fatca and have to pay taxes and get no special treatment from uncle sam when it comes to reporting an offshore bank account but what about other countries like paraguay, egypt, thailand, ect....? when a legal resident discloses where they actually live, who or what determines if they will be treated differently than someone who is an actual citizen of that country? can someone please tell me. thank you.
Our valued sponsor
legal permanent resident only!
- Thread starter michael reader
- Start date
The legal resident, even an illegal resident, would fall into the same taxation laws as the citizens of Paraguay. Roughly, as long as you are in Paraguay for 183 or more in one year, you are a resident of Paraguay for taxation purposes, because Paraguay has a territorial taxation system. If you happen to be a US citizen, you will owe taxes in both Paraguay and the US, because the US has a taxation by citizenship system.
Given that Paraguay doesn't tax income from abroad, it's a nice little country to have a legal residence, and it's super easy to obtain a PR.
Given that Paraguay doesn't tax income from abroad, it's a nice little country to have a legal residence, and it's super easy to obtain a PR.
It has a corruption rate comparable to larger economies such as Brazil, or Argentina, or Peru. With the exception of Chile (low corruption) and Venezuela (soviet style corruption), countries in Latin America are more or less the same. Beyond corruption, Paraguay is a stable democracy and a fast-growing economy with a liberal government.
Corrupt countries aren't always all that bad in my experience also. IMO the big western governments are much worse. At least in the third world corrupt countries its well known and relatively transparent. Just need to take caution, educate yourself on the local way of doing things and be smart. I've been much happier living in those corrupt countries than when I was back home!
