There has been a sharp rise in the number of Americans giving up their citizenship following out the implementation of a new disclosure law aimed at decreasing tax evasion reports CNN Money.
Chaninat and Leeds specialize in Thai and international business law
Many expats have revealed say they are giving up their U.S. passport because they have had enough of completing overly complicated tax filings. Contrary to most countries, the U.S. still taxes citizens on all income, regardless of where it is earned or where they reside.
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Related Documents
US Thailand Double Taxation Treaty
Foreign Account Tax Compliance Act (FATCA).
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