Transfer and Title Question

[hk blues]

16 hours ago, Balisidar said:

Hk, they will be taxed by the u.s.government for earnings but they won't be taxed by the Philippine government.

Thank you for the explanation.

I'm still slightly confused - I understood that the Philippines had a global tax system for citizens so, if they were a dual citizen (USA/Philippines) living in the Philippines they would pay taxes on US income in both countries?  The quote above states Filipinos abroad.  

[Huggybearman]

25 minutes ago, hk blues said:

Thank you for the explanation.

I'm still slightly confused - I understood that the Philippines had a global tax system for citizens so, if they were a dual citizen (USA/Philippines) living in the Philippines they would pay taxes on US income in both countries?  The quote above states Filipinos abroad.  

The Philippines and the US have a tax treaty which should prevent such double taxation. You would only pay tax in both countries that do NOT have such a tax treaty.

[hk blues]

1 hour ago, Huggybearman said:

The Philippines and the US have a tax treaty which should prevent such double taxation. You would only pay tax in both countries that do NOT have such a tax treaty.

I see - thank you.  So, whilst the income is subject to tax in both countries, you can offset tax paid in one against the other - makes sense to me now.