US bill moves to end double taxation of Americans living abroad

American expats could have a tax relief as a new US bill introduced this month moves towards ending the country's citizenship-based taxation by only taxing those who live in the US. The legislation has been tabled in the US House of Representatives and would exempt Americans living in countries like Canada or the UK from having to pay tax on income earned outside the United States. North Carolina Republican Congressman George Holding, who tabled the Bill, called the current citizenship-based tax system "archaic," and said that it imposes "a costly burden on Americans living abroad." ...