Discussion about deep stops is not new to the scientists studying decompression safety. Since Haldane first established decompression tables, the depth of the first stop has been debated. The answers varied over time, depending on prevailing contemporary dive practices and concerns.
So, if you are earning $50,000 in salary and 15,000 in retirement benefits in France, the income reported on your U.S. tax return is $65,000. You might have foreign tax credits to offset the $50,000, but no credits to cover the $15,000.f course, if you are operating a small business, and your income is less than the Foreign Earned Income Exclusion ($99,200 in 2014), you donât need to be concerned with a pension, be it foreign or domestic. Now that Iâve buried the lead in the 5 th paragraph, letâs talk about the foreign pension tax trap.
The US taxable GILTI amount is subject to a 50% GILTI deduction allowance (up to the end of 2025, thereafter the GILTI deduction reduces to 37.5%) and is subject to tax at 21%. If nil tax is paid on the foreign pool of GILTI profits, the GILTI US effective tax rate in 2018 is 10.5%. Double tax relief is available for 80% of the pool of foreign tax credits attributed to the GILTI income.