PLEASE CONSULT OUR WEB SITE FOR MORE INFO AND WHAT YOU CAN DO IF YOU THINK THIS IS ALL UNFAIR! DEMOCRATS ABROAD IS FIGHTING FOR RESIDENCY BASED TAXATION BUT NEEDS YOUR HELP! http://www.democratsabroad.org/taxation
In today’s interconnected world where all data is shared, it’s so important to understand the complex system of dual reporting to both the American and Italian authorities.
Did you know …
- that all Americans citizens residing abroad must declare their foreign earnings and bank accounts to the US government even if they pay Italian taxes and do not work in the USA. Usually your Foreign-earned income exclusion, and Foreign Tax Credit from your Italian taxes covers your US taxes so you probably will not have to pay more, but you MUST declare.
- that the U.S. government has agreements with foreign financial institutions to disclose U.S. persons (FATCA) and there are new international disclosure treaties?
- that the new Streamlined Procedure offers the opportunity to report your earnings if you never have before to the U.S. government and return hopefully painlessly to the fold?
- what your responsibilities to the Italian government are? Aside from tax on Italian income you must also declare your American and foreign assets and income!
We highly recommend that all US citizens educate themselves about their choices and consult with informed fiscal professionals specialized in expat taxes for the US government and a professional specialized in understanding expat foreign assets to report to the Italian government .
Not all normal commercialiste have these capabilities.
OUR SPEAKERS AND THEIR TOPICS: LINKS TO PDF PRESENTATIONS
Andrew Fields, MBA, RTRP, Tax Manager of Price Waterhouse Cooper/TLS Milano, is specialized in U.S. Individual Tax Compliance issues. He has been with Pwc for the past 20 years.
Andrew Fields Email: [email protected] Direct: +39 02 91605303
Colin Jamieson is a specialist in Italian, UK and international tax. He is dual qualified UK/Italian lawyer with over 25 years experience in helping investors in Italy manage their tax affairs. He is owner of Taxing.it - a resource center for Italian tax issues in the English language.
Avv. Colin Jamieson [email protected] Tel: + 39 02 488 3945 Cell: + 39 348 242 37 55