>It's worth pointing out that the US model of taxation (US citizens pay taxes on income earned anywhere in the world), as much as people complain about it, comp

>It's worth pointing out that the US model of taxation (US citizens pay taxes on income earned anywhere in the world), as much as people complain about it, completely negates the value in offshore income a la Panama papers What's different about the US model is that worldwide income is taxed while not living in the US. So if you are an American who permanently lives and works in Germany, for example, the American government entitles itself to tax the money you earn in Germany (*in principle, at least; due to exemptions you've really got to be earning $$$$ to pay taxes twice). Most countries as far as I'm aware would tax their residents based on income earned abroad, provided they are actually residing in said country. The difference is taxation by citizenship vs. taxation by residence.