Results 1 to 10 of 33
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June 2nd, 2007 03:11 PM #1
disadvantages and advantages?..aside from pwede ka pumunta/tumira anytime sa dalawang country..
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June 2nd, 2007 03:26 PM #2
tax. you need to pay tax to both countries of citizenship. the tax you pay in one is considered a deductible expense in the other, but you still end up paying more tax compared to having citizenship in only one country.
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June 2nd, 2007 03:42 PM #3
hmm let say na may dual citizenship ako...PH-AU...pag bumili ako ng property sa pinas ibig mo sabihin mas malaki yung tax na ipapatong sa akin?
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June 2nd, 2007 04:16 PM #4
nope, property taxes are pretty much fixed whether you have single citizenship or dual. i was refering to income tax.
afaik, in australia, if you earn your income outside of australia AND are out of the country for more than 6 months of the fiscal year then you pay no tax for that year. in the philippines you do not pay any tax for income earned outside the philippines, you only pay the residence certificate if you are in the philippines for any length of time of the fiscal year. so dapat sana, kung income earned overseas lahat ng income mo then you don't pay tax, right? but let's say you spend your time between australia and pinas. you have a business in pinas but you spend more time in australia (more than 6 months). so you do not satisfy the 6 months out of the country requirement of the aussie govt then you need to pay tax to the govt for your income earned overseas (from the philippines). so you pay income tax in the philippines since you earned it in the philippines. then you also need to pay tax on that income to australia simply because you were in there more than 6 months, irregardless that you earned it in the philippines. the amount of tax you paid in the philippines becomes a deductible expense on the tax due to the aussie govt, but you will stay pay a minimum amount of tax. so in effect you pay taxes twice, one big, one small. gets? also the situation gets worse when you do earn income in australia. you pay taxes for that income in australia (syempre!), then you earn some income from your business in the philippines (you sold the property for example). then you also need to pay taxes for the income you earned in the philippines to the aussie govt. solution of course is spend more time in pinas so you are out of australia more than 6 months.
i may be wrong ha, my info comes from my aussie workmates here on the rig.
i think the situaton is worse for US citizens since they pay tax wherever they earn their income. so pag dual US-Phil citizen ka then wala ka kawala.Last edited by yebo; June 2nd, 2007 at 04:20 PM.
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June 2nd, 2007 04:24 PM #5
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June 2nd, 2007 07:14 PM #6
Ozcity, you can check the FAQs:
http://www.gov.ph/faqs/dualcitizenship.asp
:toma: [SIZE="1"]2992[/SIZE]
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June 2nd, 2007 07:56 PM #7
complicated at magastos din pala.. so pwede naman siguro idrop yung isang citizenship di ba? Kung US-PH.. drop ko na lang PH for practicallity reasons..
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June 3rd, 2007 08:07 AM #8
sir yebo thanks sa info...were planning just to get the AU citizenship..tapos apply kami ng dual....then uwi na kami ng pinas for good....just doin this para sa mga anak ko..para anytime..pwede sila bumalik ng aussie..
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June 3rd, 2007 08:09 AM #9
eto tanong..pag dual citizen ka..dalawa ang passport mo diba?..pareho mo bang gagamitin ito pag lumabas ka ng bansa?
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June 3rd, 2007 08:11 AM #10
that may be, but we all got plastic, young and old. we asked the lto guy, "papel ba po, o...
Driver's License Renewal Process?