Tax - Expat News

Tax - Expat Magazine

From zero tax to low tax: Gulf countries' economic transformation

Gulf countries have long been attractive to expats for levying zero taxes. But they are now trying to diversify their economy from the oil sector, and that requires getting revenues from taxes. All six GCC countries have slowly been implementing low taxes, starting with VAT, excise tax, real estate tax and corporate tax. They haven't introduced personal income tax, at least not yet.

What Belgium's Data Protection Authority's ruling means for American expats

Last week, Belgium's Data Protection Authority ruled that the country must stop sharing the private financial information of Americans living in Belgium with the US Internal Revenue Service. What does this mean for American expats? Will this have an impact on their decision to settle in Belgium?

France

How to file your tax return as an expat in France

The French tax filing campaign started last month and will continue until early June for online filers. This year, a new feature has been added - the declaration of property assets in addition to the income tax return. As an expatriate living in France, you may be wondering which tax rules apply to you. This article breaks them down for you.

Portugal

How will Portugal's revised law on capital gains tax affect expats?

Good news for expatriates who own property in Portugal! The Portuguese tax authorities have finally ended a practice that was widely viewed as discriminatory and will now treat residents and non-residents equally. Here's what you need to know about the new tax rules on capital gains and how they will impact you.

Where should you move to pay less taxes?

Which countries have the most favorable tax systems for expats? If tax evasion is a crime, tax optimization (which consists in using legal means to reduce taxes) is quite normal. Some countries offer a particularly advantageous tax system for expatriates. But do these advantages always mean saving money? Are there other forms of taxes?

What should expats consider before switching tax residency?

After a good few years of living in the same country, expats might consider becoming permanent residents. For some, it is the first step towards their end goal of citizenship. For others, it's simply a way to be able to get more opportunities or travel in and out of the country more easily. However, expats have to carefully consider the tax implications of being a resident.

Where will you pay the highest taxes in European and Eurozone countries?

Which are the best or worst countries in terms of taxes in Europe and the Eurozone? The latest Eurostat study leaves little room for suspense. France, famous for its high tax regime, remains at the top of the list but is not the country with the highest tax rate. How does this affect expats and people who are looking to move to Europe? Here is an overview of the study and some answers to questions you might have.

Andalusia eliminates wealth tax to attract more expats

The sunny autonomous community of southern Spain, Andalusia, has scrapped the wealth tax that used to be levied on assets. It wants to attract expats and boost the economy with its tax attractiveness. Other autonomous communities, Galicia and Murcia, are following suit, while the central government plans on adopting measures that will cancel out the advantages of Andalusia's fiscal reform.

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Wealth Tax in Spain: How much will you pay?

Whether you live in Andalusia, Mallorca, Costa Blanca, Costa Brava, or the Canary Islands – Wealth Tax may affect you. It is therefore critical to understand Spain's wealth tax rules.

What do Cyprus' new tax incentives mean for expats?

Its borders have reopened, but tourism is struggling to come back to life. Two years into the pandemic, Cyprus is again facing a summer with very few holidaymakers. A bad sign for the economy, which is battling against inflation and the repercussions of Covid. The government believes it has found a solution: attract more expats, especially well-off ones. Cyprus is luring foreigners with new tax breaks. What's changing for expats? Why is Cyprus counting on them?

Why are US expats keener on renouncing their citizenship?

Greenback Expat Tax Services, which helps Americans abroad file their taxes, recently conducted a survey on 3200 expats living in 121 countries. A quarter said that they plan on renouncing their US citizenship (6%) or are seriously considering it (20%). The leading reason is the tax burden they feel, followed by concern about their home country's political climate. Many feel that having to pay US taxes while not living in the country is unfair.

Do short-term expats have to pay taxes?

Short-term expatriates move abroad for several reasons: studies, work, volunteering, etc. Although they might believe after getting their visa and paper done when needed, that bureaucracy is over, some countries might require them to pay taxes. When can that happen?

How do tax reforms affect expats and digital nomads?

Expats in Mexico should expect a major change. Determined to fight against tax fraud, the Mexican government introduced a reform in its tax system. From July 1, all foreigners over the age of 18 living in Mexico will need to have a tax number, whether they are permanent residents or not, and whether they earn their income in Mexico or not.

Tax reforms in Belgium: A dilemma for expats

Last January, the Belgian government introduced two new tax regimes, some of which are expected to affect expatriates. On May 6, a long circular was issued, providing details on these two regimes. This reform was initially supposed to be simple, ending some types of tax benefits and supporting low-income families. How does this affect expats?

Dutch government's new budget might not benefit expats in the Netherlands

The Dutch government is currently undergoing the lengthy process of putting together a spring budget statement, labeled “voorjaarsnota”, which outlines the new cabinet's finances and budget plan. Reports suggest that various tax benefits—including the 30% ruling for expats in the Netherlands—could be scrapped under its changes as part of the government's plan to make up for additional energy and defense expenditure.

When should expats make their tax return?

Moving abroad is an exciting but also a long journey. Expats have to research carefully and prepare for their financial responsibilities abroad and, in some cases, for tax returns in their home countries, as happens with Americans and French expatriates.

Countries where expats have to declare their income even when they are no longer residents

If expats are thinking about moving to another country to get away from financial and administrative responsibilities, they have to be careful and have a thorough look at their home countries' red tape rules. There are many countries where expats have still to declare their income even if they're no longer a resident.

How can expats avoid tax evasion?

Remote working and digital nomadism have been on the rise since the beginning of the pandemic. More and more people are starting a new life abroad without necessarily being aware of the tax rules and requirements in their expat country. Taxes are far from being their primary concerns. And yet, tax residency is a crucial factor, considering that there are tax treaties between your expat country and your home country, and depending on your personal situation. How can expats be in line with tax rules?