Category Archives: TTFI
Legislation to help American expats imminent, London audience told
reprinted with permission of the author Helen Burggraf
American Expat Financial News Service
Photos by Steven Edginton, Politics UK
steven.edginton@hotmail.com
September 24, 2018
updated 1:02 PM CEST, Sep 27
Legislation that its proponents say would significantly improve the lot of American expatriates, many of whom have been left reeling by the Trump tax reforms introduced at the end of last year, will be introduced in Congress before the end of the month.
This was the message delivered to a London audience of around 80 mainly expatriate Americans last week by Republican Overseas global chief executive Solomon Yue, (pictured above, far left, and below), and again a few days later to an also mainly expat audience in Paris.
Today Yue is due to bring his message to expats in Frankfurt, with similar events scheduled for Berlin and Rome over the next few days.
Yue’s appearances were his latest on a global whistle-stop tour of key foreign business centers around the world that aims to rally support among – and ideally as well, the active involvement of – American citizens living abroad for legislative changes in the way their country currently taxes them, in the run-up to the midterm elections in November.
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Non-partisan discussion set for London on efforts to end U.S. citizen-based tax regime
cross posted from AmericanExpatFinance.com
By Helen Burggraf, Editor – September 08, 2018
A panel discussion that will consider recent and growing efforts to convince U.S. lawmakers to end America’s increasingly-unpopular “citizenship-based” tax regime is set to take place at a venue in the Mayfair district of London, on the 18th of September.
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Ending U.S. Citizenship-Based Taxation
Panel discussion with John Richardson, Solomon Yue, Olivier Wagner and Jim Gosart.
Another article by @LizT1 about the @USTransitionTax – Just when you thought it couldn’t get worse!
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Posted in Issues regarding US persons abroad, Non Resident Taxation, Tax Treaties, Transition Tax, TTFI
28 Comments
Posted in Issues regarding US persons abroad, Non Resident Taxation, Tax Treaties, Transition Tax, TTFI
28 Comments
Canadian residents hit by Trump repatriation tax dealt a new blow https://t.co/67uLAfhGkh #cdnpoli #tax #TaxReform
— Elizabeth Thompson (@LizT1) August 13, 2018
Another good article by the Elizabeth Thompson. It would appear that compliance with the “transition tax” is getting more and more difficult. The article begins with:
Thousands of Canadian residents hit hard by a retroactive tax signed into law by U.S. President Donald Trump have been dealt another blow, CBC News has learned.
Newly proposed regulations issued by the U.S. Treasury Department and the Internal Revenue Service threaten to increase their tax hit.
“You have to almost empty out your company and pay a lot of Canadian tax to avoid the U.S. tax,” said Kevyn Nightingale, a partner with the accounting firm MNP.
Interestingly, Ms. Thompson does reference the Solomon Yue American Chamber of Commerce meeting this Thursday August 16 in Toronto.
The comments seem less vicious today (at least so far).
Reminder – Solomon Yue Visits Toronto
A LIGHT AT THE END OF THE TUNNEL OR ANOTHER ONCOMING TRAIN: THE POSSIBLE END OF U.S. CITIZENSHIP-BASED TAXATION
Solomon Yue, CEO of Republicans Overseas will present publicly shareable information about the TTFI bill, and discuss its progress as it journeys through the legislative process. He will be encouraging AmCham Canada to lend its support in the global effort to encourage Congress to move forward with this legislation. Joined by John Richardson and Elena Hanson
When: Thursday, Aug 16, 2018 – 18:15 to 21:00
Where: St. Michael’s College, Alumni Hall, Room 400; 121 St. Joseph Street,Toronto Ontario M5C 3C2, paid parking near building; nearest subway station is Museum)
Cost: $20 +tax. Pre-registration is required. Registrations due August 13.
If you have any questions about the event, please contact carmina@gathersome-events.com
AmCham Toronto TTFI Event
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Two Programs with Solomon Yue in Toronto August 12 & August 16, 2018
In addition the meeting mentioned below, we would like to have a second, more informal program for expats and their families and friends. This format would be a more intimate question and answer which will be focused on individuals subject to the CBT regime. This would take place on Sunday, August 12, from 2:00 – 4:00 pm on the U of T campus. We need a confirmed number of individuals before booking a room. If you are interested, please email nobledreamer16 at gmail dot com Cost: $20
A LIGHT AT THE END OF THE TUNNEL OR ANOTHER ONCOMING TRAIN: THE POSSIBLE END OF U.S. CITIZENSHIP-BASED TAXATION
If you are an American citizen residing and doing business in Canada, you bear the pain of the heavy tax burden endured by all U.S. citizens due to the fact that the U.S. is the only major country that imposes worldwide taxation on its citizens no matter whether they live in the U.S. or in another country. In addition, the U.S. imposes significant penalty laden reporting requirements on U.S. citizens living in Canada and abroad.
Change is a possibility.
Did you know that there is a possibility that the U.S. Congress may introduce, debate and vote upon a bill that may ease this worldwide taxation burden on U.S. citizens living and working in Canada? This bill would enact ‘Territorial Taxation for Individuals (TTFI)’. It is a tax cut for 9 million overseas Americans by ending double taxation.
Solomon Yue, CEO of Republicans Overseas has been involved with drafting the TTFI bill. Mr. Yue, who is currently working with AmChams throughout the world, will present publicly shareable information about the TTFI bill, and discuss its progress as it journeys through the legislative process. He will be encouraging AmCham Canada to lend its support in the global effort to encourage Congress to move forward with this legislation.
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