A US campaign group wants to stop American citizens being taxed by their government when they work abroad.
The US charges tax on worldwide income, meaning citizens must pay tax on their foreign income, subject to credits for tax paid overseas.
US campaign against worldwide taxation
Campaign group thinks that the US should not tax its citizens when they work abroad
Accountancy Age, 02 Apr 2008
Advertisement
The Asia-Pacific Council of American Chambers of Commerce has teamed up with several American Chambers of Commerce in Asia to launch the Alliance for a Competitive Tax Policy, WebCPA reported.
US laws provided a limited exclusion for the taxes on foreign earned income, though it has been narrowed recently, meaning some paid as much as $25,000 (£12,500) more in tax.
It is also thought that the UK non-dom charge could make it more expensive for UK companies to hire US citizens, if the charge is not 'creditable' against US taxes.
Further Reading:
Tags:
Also read
White papers
Most read
- Accountancy software wins environmental gong
- Wolters Kluwer buys audit software business
- IRIS continues on acquisition trail
- Analysis: The power of user feedback in web site design
- SMEs warned over unified communications costs
- IRIS launches staff management system
- Madonna & Guy Ritchie divorce to buck payout trend
- PCAOB faces Supreme Court challenge
- US tax man accused of falsifying his own tax return
- SEC continues fair value investigation
Most commented
- E&Y women told what not to wear
- Lewis Hamilton to remain Swiss tax exile
- Roadmap imminent as Cox mounts charge towards IFRS
- Don't kill fair value
- Brown calls for more transparency and disclosure
- Lewis Hamilton stays in Swiss exile
- Obama: asset or liability?
- Row over fair value accounting escalates
- Europe avoids suspension of fair value
- 100,000 pension details on Deloitte stolen laptop
Special Reports
- How To guides
- Management Consultancy Top 75
- Best Practice regional focus
- Credit crunch special: guiding business through the storm
- PwC 10-year anniversary special report
- The Top 50 2008: Special report
- Tax exodus - a special report
- Practice careers guide: big versus small
- The credit crunch and fair value - a special report
- Budget 2008 special report
Latest
- Accountancy software wins environmental gong
- Wolters Kluwer buys audit software business
- IRIS continues on acquisition trail
- Analysis: The power of user feedback in web site design
- SMEs warned over unified communications costs
- IRIS launches staff management system
- Madonna & Guy Ritchie divorce to buck payout trend
- PCAOB faces Supreme Court challenge
- US tax man accused of falsifying his own tax return
- SEC continues fair value investigation
Spotlight
Top 30 Accounting Networks and Associations 2008
The race to become the biggest firm on the planet...
Find your next job
Advertisement
Search white papers
- Accounting and Finance
- Budgeting
- Business Intelligence Solutions
- Business Process Management (BPM)
- Business Process Outsourcing
- Financial Planning and Analysis
- Compliance Management/ Sarbanes-Oxley Compliance
- Enterprise Accounting Solutions
- Enterprise Financial Management Solutions
- Expense Management
- Payroll and Personnel Accounting
- Tax Preparation and Reporting
- More
Advertisement
Advertisements
Advertisement
Secondary navigation
Comments
Have your say on this article