Why give up more than three thousand US nationality during 2015?

Why give up more than three thousand US nationality during 2015?

Posted 31/10/2015 10:19 AM

Why give up more than three thousand US nationality during 20151426 abandoned a US citizen for citizenship in the third quarter of this year, according to new government data.

This places the number of Americans who have renounced their nationality to 3221 so far this year. In 2014, US 3415 gave up his passport, according to government data analyzed by CNNMoney.

This is due to fatigue a lot of people who are considered to be coming from dealing with complex tax securities labor layer, which has increased in recent times when last year’s huge tax systems began.

This number is 15 times the number of Americans who have given up their citizenship in 2008.

Unlike most countries, the United States imposes taxes on all its citizens, regardless of where they got it on their income, or where they live.

For Americans living abroad, that mountain of complex securities as means are forced to seek professional help to pay their taxes and pay high fees for accountants and lawyers.

And up to and including headaches worse by asking the tax compliance of the overseas accounts of individuals to submit formal papers on some of the assets of foreign law, and force banks to disclose offshore accounts held by Americans.

The new law on other Americans of a rule requiring disclosure of their assets in foreign banks that exceed the value of ten thousand dollars a head.

These systems are part of a wider move to the US government to fight tax evasion, especially after major Swiss banks acknowledged the help of the Americans to hide their assets abroad.

But this campaign is difficult lives of 7.6 million American lives abroad. Some banks have also begun abroad, either large or small the expulsion of American customers, leaving some of them without even basic savings accounts.

This is due to that, if a bank failure by mistake to report any accounts owned by Americans outside the United States, it could face severe penalties.