October 10th, 2013

Why are Americans giving up their citizenship?

Why are Americans giving up their citizenship?

pass

The number of Americans giving up their citizenship has rocketed this year - partly, it's thought, because of a new tax law that is frustrating many expats.

Goodbye, US passport.

That's not a concept that Americans contemplate lightly. But it's one that many of them seem to be considering - and acting on.

The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before - 1,131 cases to 189 in 2012. It's still a small proportion of the estimated six million Americans abroad, but it's a significant rise.

The list is compiled by the Federal Register and while no reasons are given, the big looming factor seems to be tax.

A new law called the Foreign Accounts Tax Compliance Act (Fatca) will, from 1 July next year, require all financial institutions around the world to report directly to the US Internal Revenue Service (IRS) all the assets and incomes of any US citizens with $50,000 (£31,000) on their books. The US could withhold 30% of dividends and interest payments due to the banks that don't comply.

It's an attempt by the US authorities to
Collapse )

Американцы бегут от налогов

Американцы бегут от налогов

passRU

И готовы жертвовать гражданством США.

За последний год увеличилось количество случаев отказа от американского паспорта среди граждан США, живущих за пределами страны, сообщает BBC.

Во втором квартале 2013 года был зарегистрирован 1131 случай, тогда как за аналогичный период прошлого года таковых было всего 189. Безусловно, на фоне 6 миллионов американцев, проживающих
Collapse )