What is the potential ‘Expat Tax’ and how will it apply to me?
It is our understanding that the U.S. Congress is considering creating a new law in order to tax Expats and keep more U.S. dollars within the U.S. borders, although few details have been shared at this time.
With the U.S. economy slowing down and with millions or tens of millions of U.S. dollars now being spent in Latin America for the purchase of land, homes, medical & dental tourism, traditional tourism and much more, one might argue that it should be no surprise that the government to may taxing Expats for spending these dollars outside the U.S. economy. Either way, this issue is certainly being discussed as one way to help stimulate the U.S. economy.
We’ll keep you posted as more information is shared on this topic.
Best Regards,
The MovetoLatinAmerica Team
