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I'm Pleased
Quote:
Originally posted by greatwhitenorthchick
If you are a US citizen living in Canada, you pay both sets of taxes (Canada taxes based on residency, not citizenship) and the US-Canada tax treaty makes sure that you are not double-taxed - i.e. exempts one set of taxes so in effect, you only pay Cdn tax. I imagine Italy and the US have a similar treaty in place.
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Interesting. It would seem to me that the U.S. government exercises jurisdiction beyond its own borders in a whole host of ways that strike me as overreaching. I don't see how it should be able to tax income earned in another country, but I'm no tax lawyer.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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