US willing to solve FATCA problems for US persons27 May 2016
US willing to solve FATCA problems for US persons
As a US person you know that you will have to pay US taxes no matter where you live outside the US. Many US persons pay double taxes. This problem has been addressed by several countries. The Dutch foreing minister has asked the American fiscal authorities to pay attention to this problem in December 2015. These international requests for this issue have lead to a proposal in the budgetary proposal for 2016 being to resolve the FATCA problem. The proposed solution however might not be desirable for everyone; it proposes that the US will resign from taxation in case a US person gives up the American nationality. It does indicate the US willing to solve FATCA problems for US persons by to be to modernize the existing tax climat. The United States congress still has to decide upon this proposal.
If you are a US person it is wise to consult a Dutch specialized tax advisor who can help you reduce your Dutch tax liability and a US tax expert in Holland to help you with your US taxes.