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US Offshore Voluntary Disclosure Program To Close

The US IRS has announced that the Offshore Voluntary Disclosure Program (OVDP) will close in September 2018.  The OVDP was set up to allow US expats with potentially serious offshore compliance issues to avoid criminal prosecution and cap any exposure to penalties.  The IRS indicated that the reason was the ‘significant decline in the number of tax ...

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4 Ways US Expat Taxes Have Changed, And How To Prepare

US Expat Taxes have been affected by significant changes to the American tax system between 2017 and 2018. Some of the changes are made annually, like alterations to tax brackets, deductions, and personal exemptions, though others were distinctive, like the sweeping tax reform that was passed at the end of the year. This article has been written exclusively for Expat Network by Greenback Expat Tax ...

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5 Tips For US Expats: How To Maximize Foreign Earned Income Exclusion

A US citizen living and working abroad can use the Foreign Earned Income Exclusion as a shield against US taxes. Here is how to maximize the value of the Foreign Earned Income Exclusion (FEIE) in 2018. This article has been written exclusively for Expat Network by American Expatriate Tax Consultants Qualifying for FEIE An individual able to establish that his or her “tax home” is outside of the U. ...

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Saudi Arabia And UAE Introduce 5% VAT

The Middle East has long been associated with tax-free living, but from January 1st United Arab Emirates and Saudi Arabia 5% VAT on most goods and services. The introduction of VAT follows the recommendation from the IMF that oil-exporting countries in the Gulf introduce taxes as one way to raise non-oil revenue.  Forbes reports that although it threatens to slow economic growth at a time when it ...

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British Expats And The Statutory Residence Test

Tax residence is not an issue that most of give much thought to.  As a British taxpayer you are subject to tax on your worldwide income and any capital gains unless you are not UK resident.  So when you spend all or part of the year abroad the issue comes in to sharp relief as it can be fundamental to whether we are liable to UK tax or not.  The Statutory Residence Test (“SRT”) determines whether ...

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Non-Resident Capital Gains Tax 

Are you non-resident for UK tax purposes and own UK residential property? If so, did you know that if you sell your UK property you have an obligation to file a Non Resident Capital Gains Tax Return (NRCGTR) within 30 days of conveyance? This is the case even if you do not make a gain on the sale of the property or if any gain is fully covered by Private Residence Relief (PRR). This article was wr ...

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UK Expats: Does The Self-Assessment Tax Return Deadline Affect You?

Each year, countless people leave the UK for foreign shores, chasing a new life or career. Yet this break from Great Britain may not be clean in the eyes of HMRC, who could disagree with your ‘expat’ status. This article was written exclusively for Expat Network by SimpleTax Many non-resident Britons still face obligations when it comes to taxation, and must declare their earnings before the self- ...

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Self-Assessment Made Easy Using SimpleTax

HMRC-recognised SimpleTax has been developed for you and not accountants, calculating and submitting your return direct to HMRC. As it is cloud-based, SimpleTax is perfect for expats, guiding you through your return without all the tax jargon, prompting you to claim the allowances you are entitled to. This article was written exclusively for Expat Network by Simple Tax Here’s how SimpleTax can hel ...

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Get The Facts About Filing Late US Taxes

The June deadline has come and gone, but if you haven’t filed your taxes yet, there’s still time to get caught up and become compliant with the IRS this year. Not sure where to begin? Don’t fret – the information you need to know is right here in this Q&A.   By Greenback Tax I Haven’t Filed Taxes In Multiple Years – What Now? For starters, don’t let yourself worry too much – the IRS isn’t ...

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