Archived posting to the Leica Users Group, 2006/07/13

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Subject: [Leica] OT: Accounting questions - EU/US
From: nathan at nathanfoto.com (Nathan Wajsman)
Date: Thu Jul 13 11:55:13 2006
References: <071320061549.12990.44B66B8B00067615000032BE220073583402019B020E9B9CD2020106@comcast.net>

You are right, at least for countries that have a double taxation treaty 
with each other, which Sweden and the US certainly do. As a US citizen 
living abroad, I am required to file a US tax return each year, but 
between the Foreign Tax Credit, housing allowances and many other 
special exemptions and deductions, I never actually owe any tax. The 
filing requirement is still there, however, and due to the complexity, 
many US citizens living abroad "forget" to file after a few years. 
Especially if you have no assets or income in the US, this is fairly 
easy to do...

The US is one of the very few countries in the world (and the only one 
in the OECD, I think) which has this type of extra-territorial tax law 
for its citizens. Most other countries tax you based on where you live 
and earn your income, not based on your citizenship.


Nathan

jon.stanton@comcast.net wrote:
> Taxes paid by U.S. citizens to other countries are generally deductible on 
> their U.S. tax returns...Have someone check the Treaty arrangements...
>
> _______________________________________________
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>
>
>   

-- 
Nathan Wajsman
Almere, The Netherlands

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Replies: Reply from red735i at earthlink.net (Frank Filippone) ([Leica] OT: Accounting questions - EU/US)
In reply to: Message from jon.stanton at comcast.net (jon.stanton@comcast.net) ([Leica] OT: Accounting questions - EU/US)