Posted by Gabe , 1 reply
After 10 years as an expat (originally from Italy), I am about to be localized in the US (NYC area).
I am afraid I will loose the expats benefits and my pay will be lower.
What do I need to focus on when i discuss the contract? What should I really take into consideration?
The most important thing to consider is that upon entering the US tax system you are required to declare and pay taxes on your WORLDWIDE income and assets, i.e. anything you have in Italy will be subject to US taxation, regardless of whether you’ve already paid taxes in Italy or whether something is tax-free in Italy. Entering the US tax system means giving up your financial freedom. You need to be aware of this.