Archive for the ‘Expat Tax’ Category
As a British expatriate you have probably heard of QROPS, particularly if you are retired or nearing retirement. QROPS stands for Qualifying Recognised Overseas Pension Schemes. They act as a vehicle into which, UK pensions (private or company) can be transferred. QROPS are available in many tax jurisdictions around the world. There is a list [...]
Expatriates have a lot to think about financially both before and after they move. According to Aidan Bailey of The Fry Group, there are three top mistakes expats commonly make. 1. Not being open with the tax authority – In Britain you need to inform the HMRC of your non- UK status. Fill in a [...]
Expat Wealth talked to Aidan Bailey of the Fry Group about their recent acquisition of Fulcra. He explained how they have established themselves as a leading financial consulting firm, about their current clients and their plans for the future. Aidan, why the acquisition of Fulcra? The Benelux region is a very important market to us. We [...]
QROPS (Qualifying Recognised Overseas Pension Schemes) are set to undergo the most radical reforms since they were introduced in 2006. The changes, which come into effect on April 6th, will mean some existing schemes will not qualify for benefits. Tax on pensions is usually only levied in the country where the pension holder resides. Under [...]
The UK tax office has set up an investigative task-force to track down expats who haven’t declared overseas property. The team will “mine” publicly available online information to discover people who own land or houses abroad. The UK tax authority (HMRC) has put together a team of 200 investigators. Their first task will be in [...]
As Albert Einstein said, filing tax returns is “too difficult for a mathematician. It takes a philosopher.” When you move countries, you should check whether double taxation could be a problem for you. If there are overlapping tax years, you might be in for a nasty surprise. What is double taxation?
China continues forging ahead with tax reforms, raising the hackles of expats all over the country. The new social insurance tax, for example, is devouring 48% of some expats’ salaries, without providing much in the way of added benefits. Hence we read this income tax primer from China Briefing with great interest. It’s a handy [...]
Moving your finances abroad is stressful, and many expats forget to ask the most important question: what do I need to do before I move and what can be done later? Our checklist helps you identify urgent actions–and will save you money, time and hassle in the long run.
2011 is drawing to a close and with it the tax year. In keeping with the seasonal spirit, the US government has given expats an early Christmas present: a revised Form 8938. The new form is an integral part of the Foreign Account Tax Compliance Act (FATCA), designed to punish tax cheats with overseas assets. [...]
A double tax treaty recently inked by India and Switzerland grants Indian authorities the right to request information on suspected tax evaders for any period starting January 1st, 2011. This is one of just 70 tax treaties the Swiss have renegotiated since 2009, reported Simon Bradley at Swiss Info.ch, shedding further light on the once [...]
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