Taxes

Member since 17 July 2017

samfootballMember17 July 2017 15:09:02

We are both retired from government work here in the us.聽 we would like to relocate to Romania to be closer to family.聽 My question is about taxes.聽 Do we pay both countries income tax from our pensions or just one or the other.聽聽I realize I need to consult an accountant on this question, but thought maybe someone else is in a similar situation.

mc10 New member

Member since 16 July 2014

mc10New member17 July 2017 15:48:32

I know there's a treaty for avoiding double taxation between Romania and the US, so you wouldn't pay to both countries.

I think your pensions would only be taxed by US, and if you have any additional Romanian-sourced income that would be taxed by Romania. (You would have to declare it to US too, since it taxes globally, but then you would be able to deduct the tax you paid to Romania)

I am not a lawyer/accountant, so this is not legal/tax advice