Expat Working Abroad News
Latest 10 news items tagged Working Abroad
24 Apr at 6 PM 2018
The IRS’s strict rules governing tax liabilities for US expats are hitting hard on the so-called ‘accidental Americans’ living and working overseas
In the bulk of cases, accidental Americans were born in the USA but moved overseas with their parents when they were still young children. They’ve made their lives in a foreign country, from education through getting jobs, paying their taxes, owning homes and having a partner and children, but the IRS still considers them Americans liable for FATCA taxation. As a result, their...
30 Mar at 6 PM 2018
An annual survey aimed at collecting the opinions of US expats on tax-related subjects including FATCA and expat tax reform is expanding its brief for this year’s study.
The survey is being authored by a leading US expat tax specialist firm, perhaps arousing suspicions that the real intent is to garner yet more potential clients and topping up its already long list of 8,000 US expats. However, this year’s survey has been broadened to cover the effects of the Trump presidency on expats’ lives and tax liabilities. Taking place...
22 Mar at 6 PM 2018
Trump’s brainchild tax reform, now known as the Apple tax, was brought in to force major offshore corporations to relocate their huge piles of cash back onshore but is now threatening American expat SMEs with bankruptcy.
Those at risk own 10 per cent or more of an offshore company or pay themselves via a company for tax purposes. American citizens living overseas, especially in Asia, often earn a sole living as consultants, and small family businesses are also in the firing line. Equally likely to be targeted are ‘accidental...
20 Mar at 6 PM 2018
Citizens of the Republic of Ireland living and working overseas
, are being urged to return to the Emerald Isle in order to vote in the abortion referendum.
The Home to Vote campaign is stepping up its call to the Irish diaspora in the UK, USA, Canada and Europe to come back to the home country to vote in May’s historic abortion referendum. Although the request may sound crazy to non-Irish expats, there’s a precedent for the call in that thousands of Irish did exactly that in order to vote on the 2015 same sex marriage bill. The...
15 Mar at 6 PM 2018
Expats pinning their financial hopes on digital currencies can take some encouragement from China and Russia’s begrudging acceptance of the online money.
Expatriates eager to invest in cryptocurrencies in spite of their unregulated volatility may have been offered some slight reassurance by Russia and China’s take on the wildly fluctuating crypto-coins. China, the planet’s second largest economy, was the first to comment via its central bank, saying an eventual move to a true digital economy is inevitable although policy makers...
15 Mar at 6 PM 2018
US expats who were hoping a miracle as part of the Trump tax reform would ease FATCA’s pressure on their lives are now deeply disappointed.
US citizens living and working overseas
were hoping against hope that continuing calls by US expat organisations representing both sides of the political divide might result in an easing of the hated FATCA disclosure laws and the USA government’s commitment to double taxation. Now that the Trump reform is out there and has been examined, tax lawyers are muttering about ‘smoke and mirrors’...
23 Feb at 6 PM 2018
Doctors in the UK are retiring early due to strict pension savings rules and an overload of work.
As thousands of EU nationals leave their NHS jobs for fear of their post-Brexit status, the worse news is that increasing numbers of their colleagues are retiring early and emigrating. Some 5,000 experienced medical practitioners a year are now heading to an expatriate life, whether for retirement or to take on new positions in a less challenging and more rewarding heathcare environment overseas.
The current state of the NHS and the...
11 Feb at 6 PM 2018
As increasing numbers of US citizens opt for expat life abroad, the IRS’s incompetence is causing serious problems with tax returns and compliance.
US expats living and working overseas
seem nowadays to be the undeserving targets of endless tax-related crackdowns and rule changes across the board, with compliance campaigns aimed at expats as well as outdated methods of communication which leave expats unable to be compliant however hard they try.
In the age of internet communications, the US tax authority is still committed to...
6 Feb at 6 PM 2018
Yet another hit at US expats living and working overseas
has emerged as a result of the controversial Trump tax reform bill.
Growing concern within the American expat community overseas is focused on the ‘deemed repatriation tax’ calculated on profits made overseas by US businesses, whether or not the gains are repatriated. The format of the tax has increased the risk for US expats with stakes in businesses overseas, as it’s possible they may qualify for ‘controlled foreign corporation tax status’ (CFC). To make matters...
28 Dec at 6 PM 2017
The Scottish government is to bring in a new set of tax bands likely to affect Scots expats who've retained tax-residence in the home country.
The move, expected to affect Scottish tax residents working overseas
in the oil and gas industry, will be introduced in April 2018 and is certain to be bad news for many expats. From the start of the new tax year, Scotland will have five tax bands as against the norm of three at present in place in England.The new measure was announced by the Scottish National Party as part of its draft...