what does foreign ownership of Americam natural resources mean to the tax base on profits from mining those resources? Type your question here…



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    Generally all foreign persons must pay tax on any source of US income. Only persons that accrue investment income from foreign sources are eligible for a tax credit or deduction, whichever they decide. Also, “foreign ownership” is quite a muddy concept, as ownership of natural resources changes upon its inherent value (oil was not valuable hundred years ago, is extremely valuable now, and will probably not be valuable in 50 years). State often give licenses to private companies to exploit those resources, and if those companies possess foreign investments, any income made on profits is taxable.

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