The National - Push to end US double taxation gains momentum with new bill
Act would allow US citizens living overseas to be treated as non-residents without losing citizenship
“US expatriates' hopes for an end to double taxation gained new momentum on Wednesday, as a politician introduced a bill in the House of Representatives that would allow citizens living abroad to switch to a residence-based taxation model.”
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“The introduction of the bill received bipartisan support from groups advocating for Americans living abroad. Solomon Yue, president of Republicans Overseas, told The National that the bill “really shows momentum” on Mr Trump's campaign pledge. “
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“Democrats Abroad also welcomed the introduction of the bill and highlighted the bill's efforts to ensure it would not create loopholes for those hoping to evade US taxes.”
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“Mr LaHood worked closely with Tax Fairness for Americans Abroad, a non-profit organisation, to draft the bill. Paris-based lawyer Laura Snyder said the bill was the result of direct work of TFFAA and its non-partisan organisations Stop Extraterritorial American Taxation and the Association of Americans Resident Overseas.”
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