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They would not be EU citizens. The taxes are even higher. The article is around specifically renouncing American citizenships. Also, dual-citizenship is useless
by papito 5y ago
They would not be EU citizens. The taxes are even higher. The article is around specifically renouncing American citizenships. Also, dual-citizenship is useless. If you are, say, in Russia, and you have your Russian passport on you, the American consulate won't lift a finger - your ass is wholly Moscow's.
- bellyfullofbac 5y agoAh, this comments thread will just be full of ignorants won't it... Yes, true about local passports, but if I have a German and American passport in Russia, I'd just call the German embassy. Or is it not good enough, America number 1, Germany number 8?[1] BTW in your (correct) scenario, what's the point of owning the American passport? On the topic of taxes, most countries have tax treaties. If their tax level is 30% in Germany and 5% in the US, they can pay the 5% and fill in a paper for the German tax authorities, and the 5% is discounted. Maybe they're just people who didn't want to finance an idiocracy with the biggest firepower in the world. But rah rah, 'Murica! [1] https://knowyourmeme.com/memes/taiwan-1 https://knowyourmeme.com/memes/taiwan-1
- mikelward 5y agoThe people in the article aren't the only ones affected. If I ever move back to Australia, I'll have to file US taxes and other reports such as FBAR for the rest of my life. If you get it wrong, they can and have seized up to 50% of your wealth. Not because it's owed, but just as a penalty. And many Australian financial institutions won't let me open an account because of the reporting requirements. This isn't just about the rich avoiding taxes. It's about the US overreaching and creating headaches for lots of people.