Dona Maria Avanzado

Consequences of Giving up U.S. Citizenship

U.S. laws require U.S. citizens to pay taxes on their world-wide income, irrespective of where they live. You will be taxed on your world-wide income even if you live in a foreign country, as long as you are a U.S. citizen. This makes wealthy U.S. citizens renounce their citizenship as they feel that they are unnecessarily …

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