Tax Advisory
Taxed in Two Countries at Once: Why It Happens and How It's Resolved
Where an original country continues taxing income after relocation, or a second country begins taxing income assumed to be already covered, the most common cause is that tax residency was never formally, provably established or broken. This bites hardest for crypto and online business owners: crypto is taxed inconsistently across jurisdictions so gains can be taxed twice simultaneously; CRS and FATCA automatic information-sharing mean a home tax authority may already hold records of a foreign account before any filing occurs; and where an offshore structure lacks genuine economic substance, Controlled Foreign Company (CFC) rules allow a home jurisdiction to tax the income retroactively as though the structure didn't exist.
How LTB Resolves It
The engagement begins with a review of where the client actually is, where the income actually originates, and where existing structures are actually registered. LTB then works with the local accountants in our network in each relevant jurisdiction to formally establish residency, document the break from the previous one, and restructure anything that fails an economic substance or CFC test.
This is general information, not individualized tax advice. The licensed local tax professional handling your matter confirms the final position as part of the engagement.
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