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CASE REVIEW – COURT CONSIDERS IF FOREIGN TAX CREDITS CAN REDUCE THE NIIT
Dec 28, 2023
In this week’s blog, we review a recent intriguing decision, in which the U.S. Court of Federal Claims tackled the issue of whether a tax treaty can be used to allow a foreign tax credit to offset the net investment income tax.
On May 8, the Biden administration announced expanded sanctions on Russia by way of executive order. Among other things, the order prohibits “U.S. persons from providing accounting, trust and corporate formation, and management consulting services to any person in the Russian Federation.”
We include a brief comparison of the US and Mexican tax systems for individual taxpayers. We then provide 5 key principles that serve as a good starting point for understanding how to navigate the main tax issues facing US expats in Mexico.