3 ms·

I wonder if this is the "one weird hack" to expand the tax base of a country. Just grant citizenship, then start sending tax bills. "Dear Mr. Musk, here is you

I wonder if this is the "one weird hack" to expand the tax base of a country. Just grant citizenship, then start sending tax bills. "Dear Mr. Musk, here is your Argentinian Citizenship! We welcome you with open arms! P.S. please note that as of 2020 we have in place a tax on high-wealth individuals. The appropriate agency will be in touch. Renouncing citizenship takes about a year"

ztetranz 3y ago
Most countries don't tax their citizens when they live elsewhere and have no income in the country. There is one notable exception.
- Svip 3y ago
  Eritrea? Since there are actually two exceptions, although one is definitely less notable than the other.
- impish9208 3y ago
  > There is one notable exception. There are two actually.
- simondotau 3y ago
  That one notable exception also charges a tax for renouncing citizenship.
  - PopAlongKid 3y ago
    You mean the income tax on income sourced to the U.S. prior to leaving?
    - simondotau 3y ago
      https://www.forbes.com/sites/robertwood/2015/10/23/u-s-has-worlds-highest-fee-to-renounce-citizenship/ https://www.forbes.com/sites/robertwood/2015/10/23/u-s-has-w...
- closewith 3y ago
  The US is certainly an outlier, but domicile taxes are not at all unusual, especially at high net worth.
antman 3y ago
Except US I think almost all other countries dont tax only for citizenship, residency is also required
- beaeglebeach 3y ago
  There is another despot that does it, Eritrea US also imposes an unrivaled insane extraterritorial law (FATCA) on foreign banks requiring them to do expensive reporting on US persons, making them worldwide pariahs in the banking system even when they hold dual citizenship.
the_af 3y ago
It's pretty safe to assume this is not the case, countries don't "trick" people into citizenship for this. Plus Steve would know the implications of accepting this citizenship, and could challenge it and not pay a dime if there were hidden clauses.

ztetranz 3y ago

Most countries don't tax their citizens when they live elsewhere and have no income in the country. There is one notable exception.

Svip 3y ago
Eritrea? Since there are actually two exceptions, although one is definitely less notable than the other.
impish9208 3y ago
> There is one notable exception. There are two actually.
simondotau 3y ago
That one notable exception also charges a tax for renouncing citizenship.
- PopAlongKid 3y ago
  You mean the income tax on income sourced to the U.S. prior to leaving?
  - simondotau 3y ago
    https://www.forbes.com/sites/robertwood/2015/10/23/u-s-has-worlds-highest-fee-to-renounce-citizenship/ https://www.forbes.com/sites/robertwood/2015/10/23/u-s-has-w...
closewith 3y ago
The US is certainly an outlier, but domicile taxes are not at all unusual, especially at high net worth.

antman 3y ago

Except US I think almost all other countries dont tax only for citizenship, residency is also required

beaeglebeach 3y ago
There is another despot that does it, Eritrea US also imposes an unrivaled insane extraterritorial law (FATCA) on foreign banks requiring them to do expensive reporting on US persons, making them worldwide pariahs in the banking system even when they hold dual citizenship.

the_af 3y ago

It's pretty safe to assume this is not the case, countries don't "trick" people into citizenship for this. Plus Steve would know the implications of accepting this citizenship, and could challenge it and not pay a dime if there were hidden clauses.