The politician territory knows as united states is hunting theirs slaves around the globe. The only way to avoid their hunting is to renouncing their birthplace.
Harsher asset-disclosure rules came into effect on July 1, under the Foreign Account Tax Compliance Act (Fatca), meaning that foreign banks such as those in Switzerland are turning over data on their American clients to the U.S. government. If did not collaborate, the taxation goes up to 30%, equal to every foreign making revenue / money on usa.
More than 100 Swiss banks are handing over information to avoid prosecution for helping tax evaders, leading 576 American expatriates to renounce their citizenship in the second quarter.
Matthew Ledvina, a U.S. tax lawyer at Anaford AG in Zurich, told Bloomberg: ‘Fatca and the Swiss bank disclosure program has intensified the search for U.S. nationals beyond all measure.
‘It’s shocking the levels of due diligence they are going through to ensure they have cleaned house.’
The USA is the only Organization for Economic Cooperation and Development nation that taxes citizens wherever they live.
This means that to expats who want to avoid paying higher, U.S. level taxes, the idea of giving up their passports is becoming more attractive.
Almost 9,000 Americans have given up their nationalities in the past five years. This year’s figures are down 13 per cent on the same time last year, but still remain far higher than ever before.
Up until 2010, the number rarely exceeded 200 per quarter. For the first quarter of 2014, it was 1,001.
More than 1,500 expats gave up their passports in first half of 2014
New rule targeting tax evaders came into effect on July 1
Swiss banks are being asked to hand over data on American clients
The number of Americans renouncing their U.S. citizenship remains near a record high, ahead of new rules being introduced to clamp down on tax evaders.
In the first half of the year, 1,577 Americans gave up their nationalities at U.S. embassies across the world, according to Federal Register data. This was only the second time the figures have been more than 1,500 since records began in 1998.
It is important to notice than 1500 per year for a nation with more than 300 millions is unexpressed number. But it can demonstrate how good some politician strategies to control population can work better than imagined.
