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...
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...
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...
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...
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...
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...
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...
Saudi Arabia Collects New Tax On Expats
From July, Saudi Arabia is collecting a new tax from expats and their dependants, a move that is seen to boost the country’s revenues amid weak oil prices. The new fee will be 100 Saudi riyals (SAR) per dependant per month, around £21 or $27. The amount is expected to increase gradually every year until...
Why Some British Expats Are Liable For IHT
You may not be aware as a British expat who pays no UK income or capital gains taxes that you can still be liable to inheritance tax (IHT). Your liability for UK IHT depends on if you are deemed domiciled in the UK, says Stuart Ritchie of expat financial advisory firm AES International. If you or your...
Working In South Africa: The Tax Implications
South Africa is one of the expatriate jurisdictions where proactive planning makes a significant difference to the tax and exchange control implications of an international mobile employee. The primary reasons for this proactive planning are: Unlike most other countries, with good planning you only become ‘tax resident’ in the beginning of your sixth year in...
Top Three Ways To Save On Your US Expat Taxes
Ah, filing expat taxes…one of the necessities of living overseas. While it may not be the most enjoyable thing about your adventure abroad, fortunately the IRS provides a number of ways to avoid double taxation so you can save money come tax time. By Greenback Tax Here we highlight the top credits, deductions and exclusions...
US Expat Tax: Don’t Lose Your Passport!
If you are an American have seriously delinquent tax debt, IRC 7345 authorises the Internal Revenue Service (IRS) to certify that to the State Department. The department generally will not issue or renew a passport to you after receiving certification from the IRS. Upon receiving certification, the State Department may revoke your passport. If...