Hey guys Ive heard some conflicting stuff about the tax situation, while working in Africa. If I was working for a supply boat company and transfered from the gulf to Africa would I still be liable for income tax on the first $100k of earnings (assuming I stayed out of the country for 330 days or more) anybody have any info on this, Im trying to do a tax free year or two.
[QUOTE=OffshoreDan;157576]Hey guys Ive heard some conflicting stuff about the tax situation, while working in Africa. If I was working for a supply boat company and transfered from the gulf to Africa would I still be liable for income tax on the first $100k of earnings (assuming I stayed out of the country for 330 days or more) anybody have any info on this, Im trying to do a tax free year or two.[/QUOTE]
Read, CAREFULLY, Tax Pub 54.
Something to know going into this subject is that it’s not time spent out of our country that matters but time spent [B]in[/B] another country. International waters and air space don’t count, but lucky for oil field folks, time spent at sea in another country’s EEZ does count.
In case of an audit, you must have meticulous records in the form of a personal position log if you were crossing in and out of different jurisdictions at sea.
As I recall, partial tax years spent in another country can be claimed as foreign income.
Study Pub 54.