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Financial privacy is a political dead end. Aside from most governments wanting to snoop on essentially everything you do, they really, really want to know the s
by AmericanChopper 6y ago
Financial privacy is a political dead end. Aside from most governments wanting to snoop on essentially everything you do, they really, really want to know the state of your finances. Both domestically and internationally. Most governments will claim a stake in all income of their citizens, no matter where in the world the transaction occurs. This is why AML regulations exist essentially everywhere in the world.
- jacobush 6y agoI thought mostly the US wants a cut of their citizens earnings, even if abroad.
- AmericanChopper 6y agoI think most countries will stop demanding taxes from you if you legitimately move to another country, though meeting the criteria for doing that can be tedious. The US doesn’t have such a system, but the way it works most expats won’t end up paying any taxes if they leave the states. Though they’ll still need to file a return.
- gspr 6y ago> I think most countries will stop demanding taxes from you if you legitimately move to another country Most is an understatement. Last I checked, it was all countries, except the US and the two bastions of freedom that are Eritrea and the Soviet Union (when it existed). > The US doesn’t have such a system, but the way it works most expats won’t end up paying any taxes if they leave the states. Though they’ll still need to file a return. Won't end up paying any taxes on earned income you mean. For any other income, it's a damn nightmare.