The Channel Island of Jersey has become the latest financial services jurisdiction to introduce so-called Limited Liability Companies (LLCs) legislation, in a bid to boost its appeal to such U.S. financial services entities as fund managers and financial institutions.
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.
Over the last few months, details have begun to emerge about soon-to-be-introduced legislation aimed at making the U.S. tax regime less unforgiving for the 9 million Americans estimated to live overseas, growing numbers of whom say they feel they now have no choice but to renounce their U.S. citizenships.
A panel of tax and business experts who have been lobbying for years to end the U.S.’s citizenship-based tax regime has said they believe planned legislation – specifically aimed at addressing some of the worst of the problems such expats have been struggling with – actually stands a chance of being passed.
Focus Financial Partners, a New York-based financial advisory organization that counts firms based in the U.K., Canada and Australia among its members, saw its shares rise more than 10% immediately after their debut on the Nasdaq stock exchange yesterday.
The efforts by Fabien Lehagre’s Association des Américains Accidentels and other Europe-based groups of accidental Americans to seek the assistance of their local governments in their battle against the U.S.’s extraterritorial tax claims on them are the latest in a number of similar campaigns in recent years by other similar unwilling holders of U.S. citizenship.
European lawmakers last week gave a potentially significant boost to a growing band of Europe-based “accidental Americans,” who have been campaigning to engage European government officials to back their request to be allowed to cast off their American citizenship (and thus their taxation by the U.S.) more easily and cheaply than is currently possible under U.S. law.
Hearing Americans who've been living abroad for 10 or more years, and sometimes for most of their adult lives, describe how they got there is always interesting, I find. Many...
Dec-15-2022
