Go Back   English Forum Switzerland > Living in Switzerland > Swiss politics/news
Reply
 
Thread Tools Display Modes
  #181  
Old 14.11.2013, 09:33
Junior Member
 
Join Date: Jul 2013
Location: SG (Singapore)
Posts: 67
Groaned at 5 Times in 5 Posts
Thanked 18 Times in 14 Posts
brda has made some interesting contributions
Re: Tina Turner to become Swiss

Quote:
View Post
RE: world wide income & capital gains. (fatmanfilms)
- a citizen of the Canton of Zürich and the Swiss Confederation does
NOT pay any taxes on "world-wide income" and "capital gains" to the USA, unless that income and those gains are generated in the USA. Her lawyers will do their very best to prove their point

American citizens are required to declare all worldwide income to the IRS regardless of source. For Americans domiciled outside the US, they may have to pay to tax on income above the exemption. Americans domiciled outside the US and earning below the exemption must file annual income tax returns with the IRS even if they owe nothing. It doesn't matter if one is an American citizen resident in the Canton of Zürich or also a citizen of Küsnacht, ZH, and CH. As long as this person is also an American citizen (s)he is not simply exempt from paying tax on income generated outside the USA.
Reply With Quote
This user would like to thank brda for this useful post:
  #182  
Old 14.11.2013, 09:42
Forum Legend
 
Join Date: Jun 2008
Location: Zurich
Posts: 4,654
Groaned at 152 Times in 118 Posts
Thanked 9,578 Times in 3,220 Posts
k_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
American citizens are required to declare all worldwide income to the IRS regardless of source. For Americans domiciled outside the US, they may have to pay to tax on income above the exemption. Americans domiciled outside the US and earning below the exemption must file annual income tax returns with the IRS even if they owe nothing. It doesn't matter if one is an American citizen resident in the Canton of Zürich or also a citizen of Küsnacht, ZH, and CH. As long as this person is also an American citizen (s)he is not simply exempt from paying tax on income generated outside the USA.
The Land Of The Free
Reply With Quote
The following 2 users would like to thank k_and_e for this useful post:
  #183  
Old 14.11.2013, 10:02
Junior Member
 
Join Date: Jul 2013
Location: SG (Singapore)
Posts: 67
Groaned at 5 Times in 5 Posts
Thanked 18 Times in 14 Posts
brda has made some interesting contributions
Re: Tina Turner to become Swiss

Knocking the States is quite the "in" thing to do these days isn't it?

Don't forget that those resident in Switzerland have at least theoretical tax liability on worldwide income and assets.
Reply With Quote
This user groans at brda for this post:
  #184  
Old 14.11.2013, 10:07
olygirl's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: d' Innerschwiiz
Posts: 5,062
Groaned at 225 Times in 148 Posts
Thanked 10,872 Times in 3,321 Posts
olygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
Wordplay maybe, but with the USA authorities we never know. To interfere in internal affairs of other nations must be a pastime of some of them
Eritrea also requires its expats to file and pay taxes however they don't have the means to enforce it. The US does.
Reply With Quote
  #185  
Old 14.11.2013, 10:12
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 18,145
Groaned at 926 Times in 722 Posts
Thanked 19,736 Times in 9,482 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
Don't forget that those resident in Switzerland pretty much every country in the world have at least theoretical tax liability on worldwide income and assets.
FTFY.

Tom
Reply With Quote
  #186  
Old 14.11.2013, 10:13
olygirl's Avatar
Forum Legend
 
Join Date: Oct 2007
Location: d' Innerschwiiz
Posts: 5,062
Groaned at 225 Times in 148 Posts
Thanked 10,872 Times in 3,321 Posts
olygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond reputeolygirl has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
The Land Of The Free
As long as you file and don't earn more than 92,500 after exemption, it is.

Edit: I googled the above amount and found that it fluctuates from year to year.

Maximum Foreign Earned Income Exclusion Amounts by Year

Tax year 2014: $99,200
Tax year 2013: $97,600
Tax year 2012: $95,100
Tax year 2011: $92,900
Tax year 2010: $91,500
Tax year 2009: $91,400
Tax year 2008: $87,600
Tax year 2007: $85,700
Tax year 2006: $82,400
Tax years 2002-2005: $80,000
Tax year 2001: $78,000
Tax year 2000: $76,000
Tax year 1999: $74,000
Tax year 1998: $72,000
__________________
“We don’t see things as they are, we see them as we are.”
Anais Nin
Reply With Quote
  #187  
Old 14.11.2013, 10:22
st2lemans's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Lugano
Posts: 18,145
Groaned at 926 Times in 722 Posts
Thanked 19,736 Times in 9,482 Posts
st2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond reputest2lemans has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
As long as you file and don't earn more than 92,500 after exemption, it is.

Edit: I googled the above amount and found that it fluctuates from year to year.

Maximum Foreign Earned Income Exclusion Amounts by Year

Tax year 2014: $99,200
Tax year 2013: $97,600
Tax year 2012: $95,100
Tax year 2011: $92,900
Tax year 2010: $91,500
Tax year 2009: $91,400
Tax year 2008: $87,600
Tax year 2007: $85,700
Tax year 2006: $82,400
Tax years 2002-2005: $80,000
Tax year 2001: $78,000
Tax year 2000: $76,000
Tax year 1999: $74,000
Tax year 1998: $72,000
Plus another 30-60k housing exclusion (depending where you live).

Tom
Reply With Quote
  #188  
Old 14.11.2013, 10:39
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 13,547
Groaned at 171 Times in 135 Posts
Thanked 9,669 Times in 5,519 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
Eritrea also requires its expats to file and pay taxes however they don't have the means to enforce it. The US does.
Wrong too. Canada expelled Eritrea's ambassador for his efforts to not only collect the tax but "donations" to the "national defense" fund.

http://news.nationalpost.com/2013/05...ional-defence/
Reply With Quote
This user would like to thank Medea Fleecestealer for this useful post:
  #189  
Old 14.11.2013, 14:57
Linnéa UZH's Avatar
Member
 
Join Date: Apr 2013
Location: Hünenberg/Tannay/Kenilworth IL
Posts: 150
Groaned at 30 Times in 18 Posts
Thanked 194 Times in 104 Posts
Linnéa UZH is considered knowledgeableLinnéa UZH is considered knowledgeableLinnéa UZH is considered knowledgeable
Re: Tina Turner to become Swiss

Quote:
View Post
Eritrea also requires its expats to file and pay taxes however they don't have the means to enforce it. The US does.

Not always true.

Plenty of Persian-Americans have assets worth millions of $$$ in Iran and yet they don't declare them and they don't pay a dime in taxes. It's impossible for the IRS to investigate since the U.S. doesn't have a physical embassy in Iran (only a virtual embassy) and Switzerland represents American interests in Iran.
Reply With Quote
This user would like to thank Linnéa UZH for this useful post:
  #190  
Old 14.11.2013, 15:18
Junior Member
 
Join Date: Jul 2013
Location: SG (Singapore)
Posts: 67
Groaned at 5 Times in 5 Posts
Thanked 18 Times in 14 Posts
brda has made some interesting contributions
Re: Tina Turner to become Swiss

Quote:
View Post
FTFY.

Tom

thx!
Reply With Quote
  #191  
Old 14.11.2013, 15:23
3Wishes's Avatar
Moderately Amused
 
Join Date: Jul 2010
Location: Bern area
Posts: 6,524
Groaned at 43 Times in 39 Posts
Thanked 9,174 Times in 4,358 Posts
3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute3Wishes has a reputation beyond repute
Re: Tina Turner to become Swiss

FWIW, back on topic, this blog from today indicates that Ms. Turner relinquished (as opposed to renounced) in Bern on Oct. 24.
Reply With Quote
  #192  
Old 14.11.2013, 23:38
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 19,028
Groaned at 333 Times in 258 Posts
Thanked 11,712 Times in 6,857 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
American citizens are required to declare all worldwide income to the IRS regardless of source. For Americans domiciled outside the US, they may have to pay to tax on income above the exemption. Americans domiciled outside the US and earning below the exemption must file annual income tax returns with the IRS even if they owe nothing. It doesn't matter if one is an American citizen resident in the Canton of Zürich or also a citizen of Küsnacht, ZH, and CH. As long as this person is also an American citizen (s)he is not simply exempt from paying tax on income generated outside the USA.
BUT Tina Turner no longer is an American citizen !
Reply With Quote
  #193  
Old 15.11.2013, 07:45
HauskinsDale's Avatar
Member
 
Join Date: Feb 2012
Location: Lozärn & Encinitas San Diego
Posts: 134
Groaned at 5 Times in 4 Posts
Thanked 64 Times in 40 Posts
HauskinsDale is considered unworthyHauskinsDale is considered unworthyHauskinsDale is considered unworthy
Re: Tina Turner to become Swiss

This is such very old news.
As was it also in all the media throughout Weggis and Lozärn months ago...
There was also this same news at least 7 months ago in stories in the Los Angeles Times as well as naming other older legendary artists and well-known musicians from my United States living over 20 years in Switzerland.
(Thank God I was not on that list.)




Wishing alle e rüdig schöns und glücklichs Wochenendi;and a blessed week-end to all.
Reply With Quote
  #194  
Old 15.11.2013, 08:30
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 13,547
Groaned at 171 Times in 135 Posts
Thanked 9,669 Times in 5,519 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
FWIW, back on topic, this blog from today indicates that Ms. Turner relinquished (as opposed to renounced) in Bern on Oct. 24.
At least they didn't repeat the erroneous relinquishment v renunciation tax info from the Washington Post link.

Quote:
View Post
BUT Tina Turner no longer is an American citizen !
There are still the final tax filings to be done which can't take place until after you relinquish/renounce. She has to file final FBAR/1040NR/8854 forms plus whatever else is needed for the "covered expat" side of things.

Okay, she could just ignore/forget to do it, but that would bring the wrath of the IRS down on her head incurring massive fines and probably mean she could never enter the US again. As she's been paying her US tax bills for all these years it only makes sense to wrap everything up properly and be done with it.

Believe me, if it was just a case of doing the actual renunciation/relinquishment thing and nothing else there'd be a lot more people making their way to the embassies/consulates to dump their little blue book.
Reply With Quote
The following 3 users would like to thank Medea Fleecestealer for this useful post:
  #195  
Old 16.11.2013, 00:15
Hoppy's Avatar
Senior Member
 
Join Date: Aug 2013
Location: Oakland US
Posts: 409
Groaned at 20 Times in 16 Posts
Thanked 320 Times in 201 Posts
Hoppy has an excellent reputationHoppy has an excellent reputationHoppy has an excellent reputationHoppy has an excellent reputation
Re: Tina Turner to become Swiss

Oprah had to keep quiet about the handbag when Tina's new friend and owner of the shop turned up at the wedding. I even went to cheer her at a comeback concert when we had to crush forward- they were making a promotional video and didn't have enough people in the audience. She's snubbed the US so that she doesn't have to pay tax. I'm sure that like Roger Moore and others she has got a special Swiss tax exemption. She's turned her back on the US I turn my back on her. AS with other Americans who refuse to pay US tax, I don't think that they should ever be allowed visas to return. No more nostalgic trips to Tennessee. Lets see what inspiration she gets in her singing in Switzerland- yodeling?

So long Ms. Nutbush. Shame!

https://www.youtube.com/watch?v=jg7qrYqJ9ns
Reply With Quote
The following 2 users groan at Hoppy for this post:
  #196  
Old 16.11.2013, 09:57
Oldhand's Avatar
Forum Legend
 
Join Date: Apr 2006
Location: Zürich
Posts: 3,832
Groaned at 20 Times in 19 Posts
Thanked 6,093 Times in 1,907 Posts
Oldhand has a reputation beyond reputeOldhand has a reputation beyond reputeOldhand has a reputation beyond reputeOldhand has a reputation beyond reputeOldhand has a reputation beyond reputeOldhand has a reputation beyond repute
Re: Tina Turner to become Swiss

I'm sure Tina will be heartbroken when she reads your post Hoppy.


Quote:
View Post
Oprah had to keep quiet about the handbag when Tina's new friend and owner of the shop turned up at the wedding. I even went to cheer her at a comeback concert when we had to crush forward- they were making a promotional video and didn't have enough people in the audience. She's snubbed the US so that she doesn't have to pay tax. I'm sure that like Roger Moore and others she has got a special Swiss tax exemption. She's turned her back on the US I turn my back on her. AS with other Americans who refuse to pay US tax, I don't think that they should ever be allowed visas to return. No more nostalgic trips to Tennessee. Lets see what inspiration she gets in her singing in Switzerland- yodeling?

So long Ms. Nutbush. Shame!

https://www.youtube.com/watch?v=jg7qrYqJ9ns
Reply With Quote
The following 4 users would like to thank Oldhand for this useful post:
  #197  
Old 16.11.2013, 10:02
MrVertigo's Avatar
Forum Legend
 
Join Date: Feb 2010
Location: CH
Posts: 3,067
Groaned at 77 Times in 65 Posts
Thanked 5,294 Times in 2,060 Posts
MrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond reputeMrVertigo has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
Oprah had to keep quiet about the handbag when Tina's new friend and owner of the shop turned up at the wedding. I even went to cheer her at a comeback concert when we had to crush forward- they were making a promotional video and didn't have enough people in the audience. She's snubbed the US so that she doesn't have to pay tax. I'm sure that like Roger Moore and others she has got a special Swiss tax exemption. She's turned her back on the US I turn my back on her. AS with other Americans who refuse to pay US tax, I don't think that they should ever be allowed visas to return. No more nostalgic trips to Tennessee. Lets see what inspiration she gets in her singing in Switzerland- yodeling?

So long Ms. Nutbush. Shame!

https://www.youtube.com/watch?v=jg7qrYqJ9ns
She survived Ike.....and yodel hurts less than Ike.
Reply With Quote
The following 3 users would like to thank MrVertigo for this useful post:
  #198  
Old 16.11.2013, 12:15
Member
 
Join Date: Aug 2012
Location: Solothurn
Posts: 155
Groaned at 7 Times in 2 Posts
Thanked 160 Times in 73 Posts
DuePonte has no particular reputation at present
Re: Tina Turner to become Swiss

Quote:
View Post
At least they didn't repeat the erroneous relinquishment v renunciation tax info from the Washington Post link.
The Washington Post issued a follow-up story on Tina Turner's relinquishment correcting the misinformation in its original article:

"Tina Turner’s citizenship move, Part 2"

http://www.washingtonpost.com/blogs/...p-move-part-2/


GenevaLunch blasted the Washington Post for its inaccurate story:

"Happily, the Washington Post has “comments” (update)
"

http://genevalunch.com/2013/11/13/ha...mments-update/
Reply With Quote
  #199  
Old 16.11.2013, 14:39
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery-Courtion
Posts: 13,547
Groaned at 171 Times in 135 Posts
Thanked 9,669 Times in 5,519 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
The Washington Post issued a follow-up story on Tina Turner's relinquishment correcting the misinformation in its original article:

"Tina Turner’s citizenship move, Part 2"

http://www.washingtonpost.com/blogs/...p-move-part-2/


GenevaLunch blasted the Washington Post for its inaccurate story:

"Happily, the Washington Post has “comments” (update)"

http://genevalunch.com/2013/11/13/ha...mments-update/
It was a pity the WP didn't consult it's tax specialist in the first place before publishing the original article. I and several others posted comments pointing out the error, otherwise I doubt we would have seen an update to their original and wrong posting.
Reply With Quote
  #200  
Old 16.11.2013, 16:20
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 19,028
Groaned at 333 Times in 258 Posts
Thanked 11,712 Times in 6,857 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Tina Turner to become Swiss

Quote:
View Post
At least they didn't repeat the erroneous relinquishment v renunciation tax info from the Washington Post link.



There are still the final tax filings to be done which can't take place until after you relinquish/renounce. She has to file final FBAR/1040NR/8854 forms plus whatever else is needed for the "covered expat" side of things.

Okay, she could just ignore/forget to do it, but that would bring the wrath of the IRS down on her head incurring massive fines and probably mean she could never enter the US again. As she's been paying her US tax bills for all these years it only makes sense to wrap everything up properly and be done with it.

Believe me, if it was just a case of doing the actual renunciation/relinquishment thing and nothing else there'd be a lot more people making their way to the embassies/consulates to dump their little blue book.
The little blue book ... is that the USA passport ?
> somebody who becomes a CH citizen does not get a passport, not even an identity-card, but just a written confirmation about the citizenship
> for taxes, what matters is not the citizenship but whether you are an inhabitant/Einwohner
> if you are a CH citizen, you will be CH citizen all your life, even if you get some other citizenships over the years
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Swiss pass Norway to become world's richest The Local Swiss news via The Local 0 20.10.2011 12:15
how to become swiss citizen? bibo1221 Permits/visas/government 37 07.08.2011 14:29
How to become Swiss spinning_junky Permits/visas/government 0 28.12.2009 11:15
Tina Turner concert in Zurich irinaniko Entertainment & dining 10 17.02.2009 10:35
Anyone want to sell 2 Tina Turner tickets for tonight? Zurich TLC Items for sale 0 16.02.2009 17:00


All times are GMT +2. The time now is 21:21.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0