How many Americans working abroad renounce their citizenship due to double taxation each year and?
how many foreigners working in the United States renounce their citizenship for the same reason?
Isn't it time to put an end to double taxation in this world?
Taxation best answer:
Answer by StephenWeinstein
No U.S. citizens renounce their citizenship due to the reality of the situation. Some might because of misconceptions about taxes.
1. U.S. citizens who renounce citizenship for the purpose of avoiding taxes can be required to pay U.S. taxes even after renouncing citizenship.
2. U.S. citizens who work abroad AND do NOT renounce their citizenship usually qualify for the foreign earned income credit and/or the foreign taxes paid credit, so they are NOT double taxed.
Taxation
old taxation building 01
Image by StuRap
The old taxation building, Perth circa 1874
Orignal From: How many Americans working abroad renounce their citizenship due to double taxation each year and? and old taxation building 01
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