Yes, but under the treaty @Leap1 mentioned, one might pay tax to both, but the tax paid to one will be credited to the other so one will pay no more tax in total.
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Exactly. My Irish cousin with businesses in the US pays taxes in the US while residing in Ireland. He takes the US taxes off his higher Irish taxes. I am talking income taxes. He has pubs in Ireland as well.
He is an American citizen and Irish citizen.
TFG wonderful guy for a moment will change the US rules for Americans who reside overseas. This will be more permanent with reform following global money flows. The EUR will be rising as a reserve currency.
Pendulums swing.
A few years ago #Meto, etc., were upset at the lyrics of “Baby Its Cold Outside” saying it was a misogynistic song. The song disappeared from playlists over night. Started listening to Christmas carols on XM radio the other day and it seems like they are making up for lost time by playing it ever other hour.
People need to get over themselves. If someone says Merry Christmas, Happy Holidays, Hanukkah, Kwanza, Winter Solstice, etc. to me I take it in the manner intended , i.e., best wishes.
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The local Tim Horton’s has had Christmas music playing for about three weeks. Some of it I enjoy. A few I hate. I stopped at Tim’s for lunch yesterday, as it was on my way home from paying my winter taxes at the township hall. My luck ran out yesterday. While I was scarfing down my sandwich, it happened. They played the rumpypum thing. ARGH!!!
Steve
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We can “commit” Sppankee to Gitmo…
Everybody has their faves and their cringes. I hate Drummer Boy, too - when I was five it was fun: pa rum pum pum pum and all; now, not so much. I still like Rosemary Clooney’s version of White Christmas (written by a Jewish Irving Berlin). And, of course, almost everything (except Drummer Boy) by Josh Groban. One of his best is not really a Christmas song, but is played a lot in season: Kenny Loggins “Celebrate Me Home.”
Pete
Everyone is fantasizing and some wishful thinking.
BRICS will fold with their new global currency approach.
India will be the first to opt for stronger bilateral relation
ship with the US.
lol, got it in one. I don’t know how old you are, but “variety shows” were a thing on TV in the 60s. They all did Christmas shows, and seemingly everyone did rumpypum. Even the Dick VanDyke show had a Christmas show one season, and Larry Matthews, who played Richie Petrie, did rumpypum. GAH!
Steve
Mariah Carey screeching “All I Want for Christmas is You” AAAARRRRRGGGGGH.
I usually opt for instrumental jazz Christmas carols.
Sure, you get to deduct the taxes you paid in your resident country but it is not as Tamas mentions that you will be no more taxes in total. If i live in a foreign county and still end up paying taxes back to the US, I am paying more taxes in total. If I lived in the US, I probably would pay even more taxes in total as I live in a low tax country.
Where most people I know that aren’t from the US do not report any foreign earned income back to their country
Here is my holiday playlist that I play a few times in December and January.
• A Tale Of Two Cities - Mark Isham
• Above the Northern Lights - Mannheim Steamroller
• Angels We Have Heard On High - Aretha Franklin
• Auld Lange Syne - The Lonesome Travelers
• Bach Bouree (From The French Suite) - Darol Anger & Mike Marshall
• Bach/Gounod: Ave Maria - Kathleen Battle, soprano (1948-); Christopher Parkening, guitar
• Christmas (Baby Please Come Home) - Dropkick Murphys
• Christmas Morning - Lyle Lovettd - Single
• Christmas Wrapping - The Waitresses
• Engravings II - Ira Stein & Russel Walder
• Fairytale of New York - Kirsty MacColl - Galore: The Best of Kirsty MacColl
• Greensleeves - Liz Story
• Greensleeves - Vince Guaraldi Trio
• High Plains (Christmas On The High-Line) - Philip Aaberg
• Jesu, Joy Of Man’s Desiring - David Qualey
• Linus & Lucy - Vince Guaraldi Trio
• Medley: Crow River Waltz/Jesu, Joy Of Man’s Desiring/Jack Fig [Live] - Leo Kottke
• New England Morning - William Ackerman
• Nollaig - Billy Oskay/Michael O’Domhnail
• Northumbrian Lullabye - Malcom Dalglish
• Petite Aubade - Shadowfax
• Santa Claus Wants Some Lovin’ - Albert King
• Skating - Vince Guaraldi Trio
• The Christmas Song (Alternate Take 3) - Vince Guaraldi Trio
• The Nutcracker, Op. 71, Act 2: Character Dances (Divertissement) - Dance of the Reed Pipes - Kirov Orchestra & Valery Gergiev
• Twelve Days of Christmas - Mexicani Marimba Band
• We Wish You a Merry Christmas - Weezer
Aretha is singing as I post.
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What I was attempting to clarify is that it is not that one pays the full tax to both entities, but that the total tax will be no more than the larger of the two. If one lives in a country with a higher tax than the US, then the US tax will not add anything. If the US tax is higher, the other country’s tax will not add anything.
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Will not add anything to the higher US tax you mean. But you don’t live in the US so why should you expect to pay the equivalent to US tax? If you are on a 2 year oversea expat package, it comes with perks like housing, maybe a car, etc. Usually tax equalization is part of the deal so that you continue to pay the tax rate in your home country.
But I have lived 20 years overseas on local terms, sometimes years without stepping foot in the US and when i have gone back it is usually only for a week or two in a year. Almost no country in the world would tax your foreign earned income in this situation.
Think about all the immigrants in the US now and if all their countries they come from decided they should start taxing the income left after they pay US taxes. That is basically what the US does
Both are taxing the whole income, but nothing gets double-taxed. I get that, if the other county’s taxes are less than the US* that having the US taxing too means one pays more total tax than if one only paid tax to the other country, but the tax would be no more than if one was in the US.
*Does anyone know whether it is typical for the US or the other country to have the higher tax?
One might note that while one is in the other country, one does retain privileges of citizenship and one is not spending money into the US economy.
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Hard to compare. Determining net income (vs gross income) depends on what is allowed for deductions–and what is not included as income–in each country. As these can vary widely, making a reasonable comparison may not be possible other than on a very large–or very small–amount of “income”.
A citizen tax?
I spend money on Amazon if that counts… but mostly I spend my money where I earn it and pay taxes on it. You shouldn’t be taxed based on the spending level in the US economy.
As far as where US ranks, it probably is at the mid level to mid-high level. Though, if you compare what you get for it, ie, value for money, probably the high level. That is just a guess.