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Dec 15th, 2024
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I do not want to start a political discussion but I think everyone should be aware of the proposed "Border Wall Funding Actof 2017". The way it apears to be written ANY remittance to any country listed, which includes all Caribbean Islands, will be charged a 2% fee to fund the border wall. This would include not just payments to individuals but wire or bank transfers for resort or charter reservations or deposits.
Travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. - Mark Twain
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Joined: Mar 2008
Posts: 8,530
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Personally, I'd like to see the fee at 5% or 10%, and make it deductible from your taxes, that is, if you file any. As for charters etc, use a credit card. I don't support the "funding" attached, but I do support taxing the cash outflows. Seems it has less than a 1% chance of being approved.
Last edited by HillsideView; 04/27/2017 07:59 PM.
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Joined: Jan 2017
Posts: 85
Traveler
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Traveler
Joined: Jan 2017
Posts: 85 |
HillsideView said:
Personally, I'd like to see the fee at 5% or 10%, and make it deductible from your taxes, that is, if you file any. As for charters etc, use a credit card. I don't support the "funding" attached, but I do support taxing the cash outflows. I haven't read all the details of the bill, but you'd like to pay 10% on money you send down here in the way of deposits, etc? Our move would never have happened if we had to pay 10% to take our own money to the BVI and purchase Agape.
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Joined: Mar 2008
Posts: 8,530
Traveler
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Traveler
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I don't wire money. Credit card or cash.
My foot fits right into my shoe and my shoe will fit right into your...
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Joined: Jan 2017
Posts: 85
Traveler
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Traveler
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Posts: 85 |
Will be interesting to see how credit card spend is handled? Technically, a credit card charge is depositing money in a BVI account.
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Joined: Oct 2000
Posts: 4,287
Traveler
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Traveler
Joined: Oct 2000
Posts: 4,287 |
Solution is to open an account in First Bank. Their main office is in Puerto Rico,so any funds deposited in an account in PR is USA, therefore no tax.
tpcook
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Joined: Jan 2017
Posts: 85
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I wonder if my account at Banco is similar since it is also PR based.
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Joined: Oct 2000
Posts: 4,287
Traveler
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tpcook
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