Should i pay taxes on the money that i bring with me from egypt and in bank account in USA?

Question

taxes on deposit

Answer 1

If the money is legally transferred, the interest on the capital (money) is taxable. If not, the whole amount might be taxable.

Answer 2

You don't have to pay taxes on the capital, but you DO have to pay taxes on the interest that your capital generates.

Let's say you bring 10,000 $ from Egypt, and put it in a savings account that gives you 10 dollars interest a month.  You'd have to pay tax on that 10 dollars, not on the 10,000 dollars.

Answer 3

In general, the U.S. taxes only income--gains in the amount of money you have.  There is no VAT.  

Thus, if you bring $1000 with you to the U.S. and deposit it in a U.S. account, this will not create tax liability (assuming you go to a reputable bank and fill out all the paperwork properly).

If you earn interest income on the deposit, then you would pay taxes, but only on the interest.  

Note that if you are also taxed in Egypt on the same income, you may be able to get a credit from Egypt for the amount of U.S. taxes paid.  That would be a matter of Egyptian law.