ACA appreciates The Asia Pacific Council of American Chambers of Commerce's (APCAC) support for tax reform for Americans living and working overseas and thanks APCAC for their recent Press Release.  In APCAC’s Press Release, they state that “The U.S. is the only developed country that has a system of citizenship-based taxation (CBT) which subjects citizens to worldwide taxation even when they reside and work overseas. It is high time that this rule be abolished and replaced with a residence-based taxation plan, which will allow American entrepreneurs and businesses to compete and win at home and around the world.”  APCAC is the Asia-Pacific’s Largest Federation of American Business Associations and understands the importance of extending to Americans overseas the same type of tax treatment that Congress is proposing for U.S. Corporations.

  


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