Discover and read the best of Twitter Threads about #RBT
Most recents (6)
#RBT countries understand "saving clause" to protect the internal tax base. Bc of @citizenshiptax + #FATCA US uses "saving clause" to BOTH PROTECT internal tax base + EXPAND tax base by claiming people with @taxresidency in other countries as US taxpayers. taxconnections.com/taxblog/croati…
Both OECD + UN Treaties include a "saving clause" which "saves" right of a country to tax its "residents". All countries (including the US) make "residency" a sufficient condition for @taxresidency. Only the US has @citizenshiptax. Hence, "saving clause" speaks only of residents. 
The evolution of the "saving clause" found in US Tax Treaties is VERY (really) interesting. Watch how they become tighter over time. Here is paragraph 3 of Article 4 of the 1973 US Romania Tax Treaty. It applies to (1) "residents" (as defined by treaty) and (2) "citizens".
Almost all victims of the US extraterritorial tax AKA @citizenshiptax regime (enforced by #FATCA) agree that the practice of the US defining @taxresidency based on the "status" of citizenship alone must end. The plea is: End @citizenshiptax (enforced by #FATCA) and adopt #RBT.
When an organization or individual says they support #RBT or a political party includes #RBT in their platform, you must ask EXACTLY what do they mean by #RBT (Residence-based taxation)? Does their proposal leave citizenship in any way relevant to @taxresidency, #FATCA or #FBAR?
Do advocates of #RBT mean simply supporting a kinder more gentle (Eritrea style) of @citizenshiptax or do they mean making citizenship irrelevant to @taxresidency? Would #Americansabroad still remain US tax residents or do they cease having US @taxresidency for all purposes?
Many of you asked for the text of the GOP 2016 Platform about #FATCA and #RBT. Here it is:
"The Foreign Account Tax Compliance Act (FATCA) and the Foreign Bank and Asset Reporting Requirements result in government’s warrantless seizure of personal financial information... +
"The Foreign Account Tax Compliance Act (FATCA) and the Foreign Bank and Asset Reporting Requirements result in government’s warrantless seizure of personal financial information... +
without reasonable suspicion or probable cause. Americans overseas should enjoy the same rights as Americans residing in the United States, whose private financial information is not subject to disclosure to the government except as to interest earned. The requirement for all ...
banks around the world to provide detailed information to the IRS about American account holders outside the United States has resulted in banks refusing service to them. Thus, FATCA not only allows “unreasonable search and seizures” but also threatens the ability of overseas
As abuse survivors, other autistic supporters, parents of ABA/PBS survivors and ex-ABA professionals in the UK, US and other countries, we've worked for several years with BCBAs and other ABA professionals who had begun to feel that they needed to do better for their clients. 🧵
Conversations on Twitter during the past two days have revealed how many ABA professionals remain blissfully unaware of the extent of the corruption in their own industry, and the abuse pipelines which many are inadvertently serving.
This thread will be built over time to provide information for professionals who have caught a glimpse of the extent of the abuse, and who are evaluating their own professional position in the light of these revelations.
In 21st century the most interesting thing about a person is his/her @TaxResidency. For UK residents "non-dom status means #territorialtax! For UK doms there is #worldwidetax and #RBT. For US citizens there is #worldwidetax, @CitizenshipTax and #FATCA. theguardian.com/politics/2022/…
.@TaxResidency is often confusing and often has a huge impact on ones life. In simple terms, you are a #taxresident of a country which has the right to impose the full force of its tax rules on you. This is different from HOW and on WHAT sources of income tax residents are taxed.
What income is subject to taxation: Terms like "worldwide taxation" (wherever the income is earned) and "territorial taxation" (income earned only in the country) describe HOW and ON WHAT income #taxresidents are taxed. These terms do NOT describe @TaxResidency (who is taxed).
A must read! #Americansabroad need to raise enough money to hire a well connected accounting firm to facilitate "A Regulatory Fix To @Citizenshiptax" - How Accounting Giants Craft Favorable Tax Rules From Inside Government nytimes.com/2021/09/19/bus…
After watching the laughable town hall with Carolyn Maloney today, it's perfectly clear that "It's not that they don't care. It's that they don't care that they don't care." Without legislators with a reason to enact residence-based taxation a LEGISLATIVE solution is difficult.
A LEGISLATIVE solution is possible only if political parties know that ignoring @citizenshiptax will cost them votes. The Democrats seem to think that the overseas vote resulted in wins in Georgia and Arizona. If #Americansabroad delivered for @TheDemocrats this can be reversed.
