Panama's Bill 641 would remove the foreign-income tax exemption for multinational group entities that cannot demonstrate real operations in the country. The bill is currently under legislative debate.
Turkey has introduced a 20-year exemption on foreign-source income for qualifying individuals, effective from 2026. The measure is aimed at attracting international capital and investors relocating to Turkey.
A California union backing a proposed 5% billionaire tax offered to reduce the rate to 2% after the measure cleared a signature threshold, but Governor Newsom declined. Six billionaires had reportedly already left the state following the proposal.
529 plans offer tax advantages for US citizens living abroad and may be used for some overseas education expenses, though not all foreign education costs qualify. Eligibility rules and qualifying expense categories apply to Americans using these plans while residing outside the US.
The IRS is reportedly considering adding a dual citizenship question to Form 1040, according to a Reuters report. The proposal could affect the estimated five million or more US citizens who hold citizenship in another country.
Uruguay's previous 11-year foreign income tax exemption, which required only 60 days per year and a modest real estate purchase, has been revised for 2026. The updated rules raise investment thresholds, introduce a physical presence requirement for one option, and bring foreign capital gains into scope, while three qualifying paths to the exemption remain available.
Greece offers a flat β¬100,000 annual tax on all foreign-sourced income for qualifying wealthy residents, a regime that has remained unchanged since its introduction in 2020. The scheme is available to individuals relocating their tax residency to Greece.
US expats who filed Form 4868 before the June 15 deadline have until October 15 to submit their 2025 tax return and avoid late-filing penalties. The FBAR is also due on October 15, regardless of whether a US tax return is required.
The IRS treats Green Card holders as US tax residents, requiring them to report worldwide income regardless of where they live. This obligation persists even when residing outside the United States.