Tax - Expat Magazine
England
The British tax reform took effect on April 6, 2025. Notable changes include the elimination of the "non-domiciled" status and an overhaul of the inheritance tax system.
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Managing your tax obligations can be complicated for US expats. As a US citizen living abroad, you still have to file a US tax return, and you may have to pay local taxes in your country of residence, too. Fortunately, the IRS and local governments have put provisions in place to help alleviate this burden. Knowing about and claiming these provisions is the key to saving money as an American living overseas, as they can not only help reduce or even eliminate your US tax bill, but sometimes you can even claim a refund you didn't know about!
The cross-border inheritance of assets presents a complex legal and financial terrain for expats with families in other countries. No two nations share identical inheritance laws, and the specifics of bilateral tax treaties vary as well. So, how can you navigate this minefield without losing access to your inherited assets, complicating the donation of your assets to your children, or facing excessive taxes? Here are some tips.
With each new year, we see shifts in taxes, savings rates, consumer costs, and governmental allowances. This year also introduces significant tax changes that will affect both current expatriates and those considering a move. Below, we provide a detailed look at the most favorite expat countries.
France
With over half of the French population asserting their tax burden is excessively high, the government is positioning the looming tax increase as "a necessary evil." This hike, seemingly inevitable and more extensive than expected, aims to bridge the significant public deficit. Both expatriates and those planning to move to France are keeping an eye on these developments. How might this increased tax impact their future life plans?
Navigating tax laws can be challenging, especially for expatriates. With impending reforms in host countries, it's crucial for expatriates to understand these changes thoroughly. Delving into legal documents and calculations is advisable, though consulting a tax expert is highly recommended for accurate guidance. How can expatriates effectively plan for their financial future amid shifting tax regulations? What impact do these changes have on their life overseas?
Taxes are a word few people like. In fact, some choose to relocate for this reason only – to escape them. And this is not entirely impossible - as different countries have different approaches to taxation – especially when it comes to non-residents. Today, we are looking into real estate taxes—more precisely, the countries that don't impose them on non-residents.
2024 is not just another election year—it's a year jam-packed with significant political events, including the European elections, British general elections, early elections in France, and the upcoming US presidential election, not to mention past elections and reforms. This bustling schedule is causing concern among the ultra-wealthy, many of whom are increasingly moving to more business-friendly destinations.
England
The Labour government aims to move past the conservative era definitively. As the new budget vote approaches, expats might see some limited tax relief. However, this is to be taken with caution. The Labour Party recently criticized "catastrophic" national finances left by the previous government. What does this mean for expats in the UK and Britons living abroad? Let's break it down.
USA
If you are an American living abroad, did you know you can deduct up to US$126,000 from the income you earn from outside US territory? The Foreign Earned Income Exclusion, or FEIE, is an IRS provision designed for Americans who live and work in another country.
Kenya
The latest tax reform in Kenya has sparked intense protests and unrest. The BBC and France 24 report that at least 39 people were killed during the protests, while local news outlets say the death toll rose to 19 people. The situation has escalated and is drawing international attention and concern.
On September 9, 2022, the UAE, long regarded as a tax-free haven, announced the first batch of significant changes to its tax regulations. The changes affect both individuals and companies and, potentially, the business landscape of the country. The new rules also have direct implications for expats — with some finding themselves in a new tax residency status. So, what do the new regulations actually say?
Combating international tax fraud remains a work in progress. Although far from complete, governments are pleased to note significant advancements since cooperation was bolstered. Tax authorities find an unexpected ally in their efforts to monitor foreign bank accounts: social media.
Government tax announcements frequently raise concerns and set the course for economic and social policies. Will there be greater aid for individuals or raised taxes for particular groups? Concurrently, inflation worries everyone, impacting populations differently and shaping expatriates' financial plans. Here's an overview of the tax changes expatriates can anticipate in 2024 across favored destinations.
According to the World Tourism Organization, the number of digital nomads has risen considerably ever since governments started issuing digital nomad visas. These workers now have a structured environment to carry out their work while being on the move. But what about tax considerations for digital nomads? How does living in multiple foreign countries affect their tax status?
Feeling confident about the robust market, you've chosen to venture into property investment overseas. Despite the ongoing crisis, real estate investment remains a secure choice. However, it's crucial to navigate the tax regulations diligently as an expat. How can you ensure compliance with these rules?
When planning their relocation, few people take into consideration the tax system of the host country. Yet it impacts the payment of tax, the tax situation, the management of income in the host country, and, if any, in the home country.
When it comes to expat taxes, it's best to look at it twice. Tax residence, as well as terms of income tax return and payment of taxes, can vary significantly when you move abroad. What if you receive income from a foreign source? Find out whether you have to file these in your returns even if they are not taxable in your host country.
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