A group of organizations have joined together to form the Residence-Based Taxation (RBT) Coalition.
WASHINGTON, DC, UNITED STATES, January 27, 2021 /EINPresswire.com/ — A group of organizations have joined together to form the Residence-Based Taxation (RBT) Coalition. The purpose of the RBT Coalition is to focus on the need for tax reform for Americans who are living and working overseas and to support enactment of residence-based taxation. The RBT Coalition will present widely-accepted arguments, research and documentation in favor of residence-based taxation, making information available to the US Government, the media and the public. All materials will be approved by members.
Currently the RBT Coalition is made up of: Association of Americans Resident Overseas (AARO), American Citizens Abroad (ACA), Americans Overseas, Bright!Tax, Dunhill Financial, National Taxpayers Union (NTU), Swiss American Chamber of Commerce, White Lighthouse Investment Management. Membership is open and will grow as groups come forward to identify themselves with this effort.
Over time, all the Coalition partners have advocated for tax reform for Americans overseas. Joining forces demonstrates that support for a change from the current Citizenship-Based Taxation (CBT) regime, which taxes US citizens living abroad on all their income, including both US and foreign earned or sourced income – to a residence-based regime (taxing only income earned or sourced in the US) comes from a variety of organizations and interests. The RBT Coalition brings together groups that have traditionally advocated for Americans overseas, as well as tax advocacy organizations, members of the business community, tax and investment professionals, “think tanks”, and others.
The RBT Coalition will not posit any specific tax reform platforms or proposals but, as approved by members, will provide those responsible for tax reform with the data, information, background, and details as to why residence-based taxation should be enacted. RBT Coalition members will bring a wealth of knowledge not only on the tax and compliance issues of Americans living and working overseas, but also information on the demographic and financial make-up of the community.
Tax legislation will be a high priority with the incoming US Congress and new Administration. All the detailed information and work developed by the RBT Coalition participants will be invaluable to those in Washington, DC who will be working on such legislation, as well as regulatory reform. Tax reform for Americans abroad has often been overlooked in major tax legislation passed by the US Congress and the RBT coalition’s work will be key given US Congressional legislative priorities in 2021.
For more information on the RBT Coalition please visit: www.rbtcoalition.org or contact us at email@example.com.
Residence-Based Taxation Coalition
Source: EIN Presswire