3 ms·
Technically I think the more correct response here is that the U.S. is one of two countries in the world (Eritrea being the other - and never a good country to
by cascom 8y ago
Technically I think the more correct response here is that the U.S. is one of two countries in the world (Eritrea being the other - and never a good country to be compared with) that have a Citizenship based system of taxation.
Secondly - as you pointed out - U.S. citizens who make more than a certain amount and live in a low/no income tax jurisdiction will end pating U.S. taxes.
Not to mention the dacronian reporting requirements.
- rahimnathwani 8y agoAre you sure it's just the US and Eritrea? According to NYT China is also on that list: https://www.nytimes.com/2015/01/08/business/international/china-starts-enforcing-tax-law-for-citizens-working-abroad.html https://www.nytimes.com/2015/01/08/business/international/ch...
- cascom 8y agogood catch - though at least in my defense it looks like it was "little-known and widely ignored"