# Foreign income taxable on an SRRV visa?



## Movine (Oct 20, 2017)

I read that legal resident aliens (on an SRRV visa) are taxed only on income from sources within the Philippines? Is this true? So an expat could potentially have a significant international share portfolio and the dividends earned could effectively be channelled into the Philippines tax free? What about the sale of assets - is CGT to be paid?


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## Tiz (Jan 23, 2016)

Yes. I only pay tax on my Philippines sourced income.

Investment income from Aus is not taxed here.


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## Manitoba (Jun 25, 2014)

The Philippines only taxes foreigners on local income. (34% on amounts over 500.000 p)

Investment or other offshore income may be taxed on home country depending on home country laws.
Americans are taxed on worldwide income without regard for the country of residence.

As a Canadian with a residence (SRRV holder) here I am only taxed by Canada on my Canadian sourced income. If I had income (investment or income) from a third country neither Canada or the Philippines would tax it. The source country may or may not tax the income.


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