ExpatBriefing: French Lawmakers Seek FATCA Relief For Expats In France
By Fiona Moore, for ExpatBriefing.com 18 June, 2018
The French Senate on May 15, 2018, adopted the text of a proposed Motion for Resolution in principle, which calls on the French Government to negotiate with the US Government relief for French taxpayers that were born in the US and face US tax penalties having been unaware they would be covered by the US Foreign Tax Compliance Act.
FATCA requires financial institutions to report on the foreign assets held by their US account holders or be subject to withholding tax of 30 percent on their US source income.
The resolution notes discussions with US policymakers on the impact on so-called "accidental Americans" who have yet to renounce their US citizenship. It notes the costs and complexity of the process for expats of renouncing their citizenship.
The resolution calls for the French Government to negotiate with the US, either at national or European level, a free and simple procedure for French persons to renounce their US citizenship, or agree with US authorities that they should be absolved of their US tax liability.
Tags: Expatriates | Tax | FATCA | Withholding Tax | France | United States | Penalties | Compliance | Expats | Tax |
How Empathy In The Workplace Boosts Employee Wellbeing And Productivity
Workplaces are changing rapidly to meet new challenges and new ways of working. Nyenrode Business University explains ho... Read more
What The End Of The Partial Non-resident Tax Liability Means For You
Since the start of 2025, those receiving the 30% ruling can no longer declare themselves as partial non-residents of the... Read more
3 Things Every Expat Should Know About Giving Birth In The Netherlands
Navigating pregnancy and childbirth in a new country can feel overwhelming, especially when the systems and cultural pra... Read more
Starting A Business In The Netherlands: 30% Ruling And Tax Structures
Starting your own business or going freelance in the Netherlands means thinking about tax. Different tax structures will... Read more
How The Dutch Housing Market Is Helping First-time Buyers
The government has been taking a number of steps to help youngsters get a foot on the housing ladder, and now it seems t... Read more
Tax Season Has Started: All You Need To Know About Your Tax Return
In this article, Erik Jan Peffer from Taxt explains important information about your Dutch tax return, and all the infor... Read more