Featured Events
Through the BABCPHL, members have the opportunity to develop valuable business contacts within the British American community and to exchange ideas and information with a cross section of business, trade and governmental interests.
Club Level Highlight
EisnerAmper – Moving to Another Country Can Greatly Impact Your Tax Planning
There are many things that attract people to relocate to the U.S. and, by the same token, many U.S. citizens are lured to other jurisdictions. What is often forgotten is how the U.S. Treasury taxes U.S. citizens and green card holders who travel outside U.S. borders to live or work—temporarily or permanently—in foreign jurisdictions.
U.S. citizens are subject to income tax in the U.S. on their worldwide income as well as U.S. tax return and foreign information return filing requirements. The country they call home—temporarily or permanently—after they leave the U.S. may also impose income tax on some of the same income that is taxed by the U.S.
A relief from double taxation is available in the U.S. either in the form of a foreign tax credit to offset taxes payable in the U.S., taking advantage of the foreign income exclusion provisions of the U.S. tax code, or availing double-tax relief afforded under a tax treaty between the U.S. and the foreign jurisdiction that is now the home. However, all this may not be as simple as it sounds.
Recent News
London & Partners Digital Health Mission – Philadelphia
On Thursday, November 10, 2022, the British American Business Council of Greater Philadelphia collaborated with corporate member, London & Partners, London’s business growth and destination agency, to bring a delegation of some of the UK’s most exciting digital health scale-ups to Philadelphia. These British companies recently entered the US market or are getting ready to launch. The itinerary included meetings with key corporate buyers, stakeholders, and go-to-market experts. The BABCPHL partnered with the Chamber of Commerce for Greater Philadelphia, The Commerce Department for the City of Philadelphia, and The Pennsylvania Department of Community and Economic Development to welcome delegates and deliver information about the region and the life sciences ecosystem.
