Bill to repeal (expat-hated) Windfall Elimination Provision gains traction in House of Reps

A bill that would eliminate the so-called Windfall Elimination Provision – much disliked by expatriate Americans eligible to receive U.S. Social Security benefits – has reached 292 votes, which is more than it needs to pass the U.S. House of Representatives, and anti-WEP campaigners are urging fellow expats to nudge their elected representatives, if these reps haven't already come out in support of the legislation, known as the Social Security Fairness Act, just in case.

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Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making use of secret overseas bank accounts in order to avoid their tax obligations back home. 
 
Switzerland, where bank secrecy was enshrined in law, was an unsurprising favorite of many such wealthy individuals, but other jurisdictions were also named...

France's National Assembly approves FATCA reciprocity amendment, citing 'accidentels'

France's National Assembly on Tuesday approved an amendment to the government's latest finance bill that would require the U.S. government to ensure that U.S. banks and financial institutions provide the same information to France's government about accounts held by French taxpayers that French financial entities are currently providing annually to the U.S. government, as they're required to do by the U.S. law known as FATCA.

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John Richardson: 'The CRS ≠ FATCA'

When the U.S. Foreign Account Tax Compliance Act finally came into force around the world in 2014 –  four years after it was signed into law by President Obama – the Organisation for Economic Co-operation and Development was preparing its own account information reporting regulations package.

The Common Reporting Standard, as it was to be known as, differed from FATCA in that it was intended to be global, and fully reciprocal – meaning that those countries participating in the collecting and forwarding of information about other countries' resident taxpayer's financial accounts would expect to receive the same data about their taxpayers resident in that country... 

London & Capital opens outpost in Barcelona, as it unveils 'London & Capital Europe'

London & Capital, one of the first British wealth management companies in London to begin looking after American expats around the time that President Obama signed the Foreign Account Compliance Act into law in 2010, has announced that it is formally expanding its operations across the EU, with the launch of a new, Barcelona-based entity it's calling London & Capital Europe (LCE).

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Opinion

Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...

Jul-30-2022