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.
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,
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
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The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
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