 |
|
|
 |
|
|
|
|
New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
| |
| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
|
06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
|
08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
 |
| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
| |
|
| |
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| |
|
|
US Expats Look To Home As Tax Changes Bite,
by Mary Swire, Tax-News.com, Hong Kong 01 December 2006
|
A substantial number of US expats living in Singapore are considering returning
home as a result of changes to income tax laws passed by the US Congress earlier
this year, according to a survey.
The survey, conducted by the American Chamber of Commerce in Singapore during
October and November 2006, polled 585 members, and received 144 responses. It found
that almost 40% were thinking about returning home to avoid being hit by increased
tax. Half of the sample also believed that the tax changes would prompt employers
to hire less US workers abroad.
The Tax Increase Prevention and Reconciliation Act (TIPRA), signed by President
Bush in May 2006 increased the amount that can be earned free from US taxes
to $82,400 from the previous level of $80,000. However, income earned by expats
above this threshold is now typically subject to higher tax rates. Furthermore,
high housing costs, much of which previously could be excluded from the computation
of US tax, will now be treated as a taxable benefit and taxed often at 30% to
35%, making many individuals worse off, or leaving the employer to pick up the
extra bill. The legislation is retroactive to January 1, 2006.
“These tax changes are disastrous for Americans abroad and for American
business. No other developed country imposes such onerous taxation on the earnings
of its workers abroad and our members are seriously concerned about the
financial impact on them and whether it is worth remaining overseas selling
American goods and services," stated AmCham Executive Director, Nicholas
de Boursac.
"For many the true impact of the tax changes has not yet even begun to
sink in. Some will only realize the full impact as
2006 personal tax returns are completed in March and April 2007. Many companies
possibly do not yet realize the impact either as over 90% of our surveyed members
indicated that their companies had not yet issued any guidance to them on the
tax changes," he added.
AmCham says that the financial impact will be felt most by those American expatriates
who are not tax-equalized and whose employers do not absorb the additional tax
impost. 66% of those surveyed are not tax-equalized, and of this group, 30%
expect a tax increase of between US$5,000-15,000, while a third expect increases
of more than US$15,000.
AmCham warned that even those US expats who are not directly financially impacted
by the changes will still be affected because companies will hire less expensive
employees.
“Basically, employers will hire Australians, Canadians or Europeans who
do not cost as much as Americans,” noted de Boursac.
"As well as being inequitable to Americans abroad, these tax changes are
just bad policy. By making Americans more
expensive to hire, it will mean fewer Americans working abroad. This will be
bad for US exports and US businesses, ultimately reducing US global competitiveness," he warned.
.
|
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
TAX-NEWS.COM
Free Tax-News Feed