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Republicans Overseas representatives go to Washington in support of Territorial Taxation
| Published: | 25 Sep at 6 PM |
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Since the introduction of FATCA, Republicans Overseas has been fighting for the repeal of Citizenship Based Taxation.
Representatives of Republicans Overseas are about to visit the White House in an attempt to have the government repeal FATCA and Citizen Based Taxation, replacing them with Territory Based Taxation. The USA is the only civilised country in the world which uses the present taxation system, treating US expats living and working overseas in the same manner as if they were still resident in the home country.
The universal tax jurisdiction at present in law was first used during the US’s Civil War, and, according to Republicans Overseas, has no relevance in the present day. FATCA could be seen as the unwelcome child of this unfair, archaic system, and is the most hated aspect of living overseas for US expats.
For over 100 years, American expatriates have been disallowed a voice with which to protest the unfairness of the system, leaving expat professionals and investors no choice but to go along with its restrictions and swingeing fines for even a simple, unintended error. In addition, the requirements of the tax forms could well be considered as intrusive and damaging to personal privacy.
Solomon Yue and Michael DeSombre, respectively CEO and Worldwide President of Republicans Overseas, will travel to the White House next Monday with a petition in support of Territorial Taxation. In addition, they’ve started a letter-writing campaign and are urging US expats to contact their Representative and Senator either by letter or email as well as signing the online petition.
Emails will be printed out and shared with officials at the White House. The Republicans Overseas website has sample letters to help those needing assistance, and has more details of its efforts to get both Citizen Based Taxation and the nightmare of FATCA repealed and replaced with a tax system which is just and fair to all US expats.
Representatives of Republicans Overseas are about to visit the White House in an attempt to have the government repeal FATCA and Citizen Based Taxation, replacing them with Territory Based Taxation. The USA is the only civilised country in the world which uses the present taxation system, treating US expats living and working overseas in the same manner as if they were still resident in the home country.
The universal tax jurisdiction at present in law was first used during the US’s Civil War, and, according to Republicans Overseas, has no relevance in the present day. FATCA could be seen as the unwelcome child of this unfair, archaic system, and is the most hated aspect of living overseas for US expats.
For over 100 years, American expatriates have been disallowed a voice with which to protest the unfairness of the system, leaving expat professionals and investors no choice but to go along with its restrictions and swingeing fines for even a simple, unintended error. In addition, the requirements of the tax forms could well be considered as intrusive and damaging to personal privacy.
Solomon Yue and Michael DeSombre, respectively CEO and Worldwide President of Republicans Overseas, will travel to the White House next Monday with a petition in support of Territorial Taxation. In addition, they’ve started a letter-writing campaign and are urging US expats to contact their Representative and Senator either by letter or email as well as signing the online petition.
Emails will be printed out and shared with officials at the White House. The Republicans Overseas website has sample letters to help those needing assistance, and has more details of its efforts to get both Citizen Based Taxation and the nightmare of FATCA repealed and replaced with a tax system which is just and fair to all US expats.
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