Is there a remittance tax when I transfer U.S. LLC profits to Brazil?
I regularly wire money from my LLC's U.S. bank account to my personal Brazilian bank account. My bank charges a spread on the exchange rate, but I've also heard there might be an IOF tax on incoming remittances. Is this true? And do I need to classify the remittance as 'business income' or 'dividend' for the Central Bank's purposes? This affects the IOF rate apparently.
Related Questions
I'm from Brazil — how does my U.S. LLC get taxed?
I am a Brazilian citizen and tax resident in São Paulo. I formed a Wyoming LLC for my digital marketing consulting business. I work from Brazil serving U.S. and international clients. What are my U.S....
How do Nigerian forex restrictions affect repatriating my U.S. LLC profits?
I earn USD through my LLC but need NGN for my living expenses in Nigeria. The official exchange rate and the parallel market rate are very different. Which rate do I use for tax purposes? And can I le...
How do I send international wire transfers from my foreign LLC's U.S. bank account?
I have a Mercury account for my foreign-owned LLC and I need to send money to myself in my home country (Poland). What's the process for sending an international wire from Mercury? What information do...
My LLC received a $24,000 wire from my personal foreign account. Do I have a special U.S. reporting form just because it crossed $10,000?
I am in Turkey and wired $24,000 from my personal bank account into my Delaware LLC to cover development and contractor costs. The bank processed it normally, but then a friend told me that anything o...
Do I owe Australian CGT if I sell my U.S. LLC membership interest?
I've been running my U.S. LLC for three years and I'm considering selling a 50% membership interest to a business partner. The LLC has appreciated significantly in value. Will Australia tax the capita...
I'm from Australia — how does my U.S. LLC get taxed?
I'm an Australian citizen and tax resident in Sydney. I set up a Wyoming LLC for my SaaS business targeting U.S. customers. All development and operations happen from Australia. What are my U.S. and A...
Do Indonesia's CFC rules apply to my U.S. LLC?
My Indonesian tax consultant says my U.S. LLC might be subject to Indonesia's deemed dividend rules because it pays no U.S. tax. He says the DJP can treat undistributed LLC profits as if they were dis...
How does the Israel Tax Authority treat U.S. disregarded entities?
I've been told that Israel may or may not treat my U.S. LLC as transparent. If it treats the LLC as a company, I could face CFC issues. If it treats it as transparent, the income is mine directly. How...
I'm from Israel — how does my U.S. LLC get taxed?
I'm an Israeli citizen and tax resident in Tel Aviv. I formed a Delaware LLC for my cybersecurity consulting business. I work from Israel serving U.S. clients. What are my IRS and Israel Tax Authority...
I'm from Singapore — how does my U.S. LLC get taxed?
I'm a Singapore citizen and tax resident. I formed a Wyoming LLC for my software consulting business. I work from Singapore serving U.S. clients. Singapore has a territorial tax system — does that mea...
Have a similar question?
ForeignLLCTax members get expert answers with IRS citations. One CPA consultation costs $200+. Full access is $9.99/month.
Become a Member — $9.99/moDisclaimer: All content on ForeignLLCTax.com is created by a tax professional and is provided for general educational and informational purposes only. It does not constitute tax, legal, or accounting advice, and should not be relied upon as such. Every tax situation is different — for advice specific to your circumstances, please consult a licensed CPA, Enrolled Agent, or tax attorney. By using this website, purchasing a subscription, or accessing any tools or services, you acknowledge that no client-professional relationship is established between you and ForeignLLCTax.com or its operators. This website is not affiliated with the IRS.
