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Old 10.08.2013, 17:06
Medea Fleecestealer's Avatar
Medea Fleecestealer Medea Fleecestealer is offline
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Re: New report on drastic increase in expats giving up US passport

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The article this morning details a huge growth in the number of US citizens giving up their passport. I think there was some discussion earlier that we don't even know if these are the real numbers. At what point will the US government notice or care? I am sure that if some central or south american countries began to require this financial reporting from their citizens living in the US, the US government might notice, but until then I can imagine the numbers as seen in this report will grow exponentially.

http://www.zerohedge.com/news/2013-0...nship-surge-66
The problem with that idea MartinDM is that the US has already said it won't reciprocate on exchange of info. Which makes the various IGA's that the Treasury/IRS have negotiated worthless to those countries who were foolish enough to sign up to them. Congress is getting snarky over the IRS stepping on their toes, and businesses/banks/credit unions don't want them to pass any laws to allow reciprocity because it will cost them millions and billions to implement - just as it has cost the rest of the world to comply with the US's bullying tactic. Given that the US is now probably the biggest tax haven in the world, the hypocrisy is unbelieveable.
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