Income-tax-exemption also for offshore income (interest form bonds) from SVVR Holder?

Hello, I am new here and I have just a question about SVVR Visa.

When i am a holder of SVVR-Visa, than I am exempted of Income tax over your pension and annuities.

But Wht about interests on Bonds I have offshore, outside the Philippines? Is that income also tax exempted, when I hold a SVVR Visa?
Thanks

 

I think you need to ask an accountant in Germany or the tax authority if they have a tax treaty with the Philippines. I don't think a Philippine visa negates residency elsewhere and money from investments made outside the Philippines may not be affected by having a Philippine visa. That is why I say consult an accountant.

 

Your tax liability is for your home country unless you have income in the Philippines.

 

I forgot to say that I am a German citizen but I don’t stay in Germany, I am a resident in the Philippines. I have nothing to do with Germany anymore.

And the reason I ask is, that in 2018 the Philippines will join CRS (Common Reporting Standard) and will share and receive Account balances, offshore income and so on from residents in the PH:

And if SVVR Members have some money somewhere with an Bank in Asia for example – and if SVVR or other alien residents in the PH need to pay tax also on offshore income - than that people could face bigger trouble, when BIR knocks at their doors in 2018 with all the Bank information they get...
That’s why it is interesting to know if an alien resident in the PH need to pay taxes also for offshore income…

 

From the Philippine income tax law:

"The Philippines taxes its resident citizens on their worldwide income. Non-resident citizens and aliens, whether or not resident in the Philippines, are taxed only on income from sources within the Philippines."

Consult a local tax lawyer if you want to be 100% sure, but to me this sounds pretty clear.

 

heres a link to the law and some article from PWC where I got that from:

Tax Code - Bureau of Internal Revenue
http://taxsummaries.pwc.com/uk/taxs...ilippines-Individual-Taxes-on-personal-income

 

Jens, thanks a lot for this link: Tax Code - Bureau of Internal Revenue

At: „CHAPTER II GENERAL PRINCIPLES“ is written:

(D) An alien individual, whether a resident or not of the Philippines, is taxable only on income derived from sources within the Philippines;

So, it is clear that offshore income is not taxable in the PH. ...At least not now...