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Do You Know About Tax Remittances?

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Elliott

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Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
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Oregon
[wiki] A remittance is a transfer of money by a foreign worker to an individual in his or her home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labour-exporting countries.[1] In 2014, $436 billion went to developing countries, setting a new record. Overall global remittances also totaled $583 billion.[2] Some countries, such as India and China, receive tens of billions of US dollars in remittances each year from their expatriates. In 2014, India received an estimated $70 billion and China an estimated $64 billion.

Here are some countries and the amounts:

Screen Shot 2016-09-04 at 12.44.30 PM.png

This post is for educational purposes only and is not intended to be political in any manner. Don't draw any spurious correlations.
 

Meandering

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Feb 26, 2006
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Real Estate Agent or Broker
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Maybe because a person's number 1 responsibility is to their family, no matter where their family is.
 

Elliott

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Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Lots of money going to some of those countries, even ones close to us, but not Canada.
 

normando

Senior Member
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May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
[wiki] A remittance is a transfer of money by a foreign worker to an individual in his or her home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labour-exporting countries.[1] In 2014, $436 billion went to developing countries, setting a new record. Overall global remittances also totaled $583 billion.[2] Some countries, such as India and China, receive tens of billions of US dollars in remittances each year from their expatriates. In 2014, India received an estimated $70 billion and China an estimated $64 billion.

Here are some countries and the amounts:

View attachment 29646

This post is for educational purposes only and is not intended to be political in any manner. Don't draw any spurious correlations.
Interesting. I thought Mexico should be higher. I'm surprise with India. Maybe not. There's a large number of highly educated Asian Indians working in Silicon Valley and they apparently from the data send money back to homeland.
 

Mark K

Elite Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
I wonder how that compares with the amount of foreign investment in US real estate? A lot of cash leaving but a lot of USD equivalent flowing in.

If there's a surplus leaving I'm guessing the gov't has the printing presses busy keeping the supply somewhat stable.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
I wonder how that compares with the amount of foreign investment in US real estate? A lot of cash leaving but a lot of USD equivalent flowing in.

If there's a surplus leaving I'm guessing the gov't has the printing presses busy keeping the supply somewhat stable.
That's a good point. I notice lots of cash buyers paying for expensive homes which help push the high end market. It's easy for foreigners and money launderers to buy property in America. Different story buying properties outside. I heard Mexico do not allow fee ownership for foreigners and somehow the transaction are structured so foreigners can buy. If I was to buy second home, I like Cabo. It's cheap (relative to here), same time zone, clean, safe, and feel more like Southern California.
 
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