rhombus6 The rate of tax imposed is often reduced by the treaty rhombus6 Some

Rhombus6 the rate of tax imposed is often reduced by

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rhombus6The rate of tax imposed is often reduced by the treaty.rhombus6Some types of income may be exempted from tax.rhombus6The ordinary sourcing rules may be changed. Chapter 25, Exhibit 54
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U.S. Double Tax Treaty Countriessquare6Australiasquare6Austriasquare6Bangladeshsquare6Barbadossquare6Belgiumsquare6Bulgariasquare6Canadasquare6China, Republic ofsquare6Francesquare6Germanysquare6Greecesquare6Hungarysquare6Icelandsquare6Indiasquare6Indonesiasquare6Irelandsquare6Luxembourgsquare6Maltasquare6Mexicosquare6Netherlandssquare6New Zealandsquare6Norwaysquare6Pakistansquare6Philippinessquare6Sri Lankasquare6Swedensquare6Switzerlandsquare6Thailandsquare6Trinidad and Tobagosquare6Tunisiasquare6Turkeysquare6Ukrainesquare6Commonwealth of Independent Statessquare6Cyprussquare6Czech Republicsquare6Denmarksquare6Egyptsquare6Estoniasquare6Finlandsquare6Israelsquare6Italysquare6Jamaicasquare6Japansquare6Kazakstansquare6Koreasquare6Latviasquare6Lithuaniasquare6Polandsquare6Portugalsquare6Romaniasquare6Russiasquare6Slovak Republicsquare6Sloveniasquare6South Africasquare6SpainChapter 25, Exhibit 55square6United Kingdomsquare6Venezuela
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Tax Relief for U.S. Citizens and Residents Working Abroadsquare6Foreign earned income exclusionsquare6Housing cost exclusion/deductionsquare6Foreign tax credit/deductionrhombus6Direct foreign tax creditrhombus6Deemed paid foreign tax credit Chapter 25, Exhibit 70
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Foreign Earned Income Exclusion square6Must be (1) a U.S. citizen who has been a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year or (2) a U.S. citizen or resident who was present in a foreign country or countries during at least 330 full days during any period of 12 consecutive monthssquare6Tax home must be in a foreign country or countries throughout the period of bona fide residence or 330 full days of presenceChapter 25, Exhibit 71Calendar Year201120122013Exclusion Amount Is$92,900$95,100$97,600
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Housing Cost Amount Exclusion/Deduction square6Individuals who qualify for the foreign earned income exclusion also qualify for the housing cost amount exclusion/deduction square6The housing exclusion applies to amounts paid for an employee’s housing by the employer, which would employee’s housing by the employer, which would normally constitute income to the employee under U.S. law. square6The housing exclusion amount is the total of housing expenses for the year minus 16% of the foreign earned income exclusion (aka the base housing amount). Chapter 25, Exhibit 73
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Foreign Tax CreditThe following taxpayers are eligible for the foreign tax credit:square6U.S. citizens and residents and domestic corporations who paid or accrued income tax to any foreign country or U.S.
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  • Fall '14
  • fabioambrosio
  • Accounting, Taxation in the United States

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