Trump promises to end double taxation for expats in Thailand, aiming to win their support in the election. With 100,000 Americans living there, his pledge could sway votes. Absentee ballots are already being counted as he focuses on reducing taxes for Americans abroad.
Trump’s latest campaign pledge will be welcome news for Americans living in Thailand. In particular, with proposals to change Thailand’s taxation system targeting expats in the pipeline. Presently, Americans are obliged to file tax returns on an annual basis no matter where they live in the world. Trump’s promise is quite simple: under his administration, there will be no double taxation. The move is being touted by his advisors and spokespeople as many expats are already voting. Their votes will be counted as absentee ballots. Certainly, these votes in this political contest may prove significant. Thailand is at that time home to something like one hundred thousand eligible U.S. citizens, part of 9 million who presently live abroad.
Donald Trump has pledged to end “double taxation” for millions of Americans living overseas if he wins the U.S. presidential election next month. His announcement certainly aims to attract expatriate support. Particularly in a closely contested race for the White House.
Presently, an estimated one hundred thousand Americans live in Thailand at any one time. Indeed, absentee voting has already begun. U.S. expats can vote online and at U.S. diplomatic missions.
“I support ENDING the Double Taxation of overseas Americans! Let’s put America First, together. Register to Vote, and vote Republican to MAKE AMERICA GREAT AGAIN!” Trump stated in a recent announcement. This promise is part of his broader agenda to reduce taxes.
Trump’s commitment to end double taxation seeks to attract expats living overseas ahead of elections
Trump’s commitment to end double taxation has attracted attention from groups advocating for Americans living abroad. At length, Jim Gosart, vice president of Republicans Overseas, emphasised this change’s importance. He emphatically claimed Americans should only pay income tax in the countries where they live, work, and earn.
“Ending the double taxation of overseas Americans, a move that will be life-changing for millions, is a testament to President Trump’s commitment to economic freedom,” Gosart added.
According to the Department of State, approximately 9 million Americans live or serve overseas. At this time, these individuals must still file U.S. tax returns despite their residency outside the United States.
Garrett Watson, a senior policy analyst at the Tax Foundation, explained the unique tax situation for Americans abroad. “The U.S. taxes citizens without regard to where they live worldwide. This is distinct from most other countries that use residency-based taxation,” he noted.
Complicated tax filing processes for Americans living abroad create financial challenges
Watson pointed out that most Americans living overseas do not pay U.S. taxes. However, the filing process can be complicated. Undeniably, those in jurisdictions without a tax treaty with the U.S. risk paying taxes in both countries.
Brandon Mitchener, executive director of Tax Fairness for Americans Abroad, welcomed Trump’s political support for this issue. “We welcome any political support for bringing the United States into line with the global standard of residence-based taxation,” he said.
Mitchener especially highlighted bipartisan support to change the tax law. Notably, this law dates back to the Civil War. Previously, it was designed to prevent citizens from fleeing the country to avoid paying for the war effort.
Lack of political will hinders efforts to change outdated U.S. tax laws for expats living abroad
However, Mitchener noted that his organisation had received “no response” from the campaign of Democratic candidate Kamala Harris. Certainly, he questioned the lack of political will to address this issue. “It’s great news that presidential candidates and their staffs are finally talking about it,” he said.
In contrast, London-based Rebecca Lammers, chair of the Democrats Abroad Taxation Task Force, expressed scepticism about Trump’s motives. While at the same time Democrats also want to scrap double taxation. Lammers stated, “It seems they [Republicans] are pandering for overseas votes at the eleventh hour.”
She referred to Trump’s recent comments. He accused Democrats of using the overseas vote to “cheat,” calling it “foreign interference.” Lammers criticised the Republican approach, stating, “This week, Republicans Overseas supporters are offering a promise they didn’t keep when Trump was in power in 2017.”
Overseas votes could have significant impact on election results for both candidates in this close race
The potential impact of overseas votes could be significant for both Trump and Harris. They vie for support in swing states crucial to the election outcome. A report by the U.S. Election Assistance Commission on the 2020 presidential vote revealed that approximately 1.2 million ballots were sent to eligible overseas voters. More than 900,000 of these ballots were returned and submitted for counting.
Trump returns defiant to the stage of Butler Pennsylvania where Trump suggested a plot to kill him
2nd Trump term would spell a massive shift by the US towards protectionism. It’s called Maganomics
Ottawa-based Georganne Burke, the Canadian representative of Republicans Overseas, indicated that more details about the tax changes would emerge if Trump is elected. “They are not micro-detailed policy statements,” she said. “Look at what Trump is trying to do: lower taxes, less government, less interference, more business.”
Jonathan Garbutt, a tax lawyer at Dominion Tax Law in Toronto, works with U.S. expats in Canada. He believes Trump’s pledge would signify a “significant” change. “If he follows through on his promise, it would solve many issues for U.S. expats,” Garbutt noted. “It would end useless paperwork.”
Challenges remain for Trump’s proposed tax changes as American election day draws closer
Burke acknowledged the complexities involved in achieving the tax goal. “He knows he has to work with Congress to amend the Tax Code, but he wants to get this done,” she stated.
As the election approaches, the promise to end double taxation resonates with many Americans living abroad. With the stakes high and the race close, expatriate support could be pivotal for either candidate.
Join the Thai News forum, follow Thai Examiner on Facebook here
Receive all our stories as they come out on Telegram here
Follow Thai Examiner here
Further reading:
Trump returns defiant to the stage of Butler Pennsylvania where Trump suggested a plot to kill him
2nd Trump term would spell a massive shift by the US towards protectionism. It’s called Maganomics
Second assassination attempt on President Trump sees shots fired. 58 year old suspect is arrested
Harris turns on the money taps as experts say the 2024 election will be even tighter than 2020
Trump pulls out all the stops as buoyant Kamala opens up a lead in three key battleground states
Trump resurgent with new running mate JD Vance as President Biden pulls out of the race
Attempted Assassination of Former President Donald Trump: Latest Updates and reactions from America
Second Trump Presidency threatens further damage to the baht, the economy and Thai money markets
