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U.S. Hikes Fee To Renounce Citizenship By 422% -
2014-08-29 18:34:07 GMT
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"Over the last two years, the U.S. has had a spike in expatriations. It isn’t exactly Ellis Island in reverse, but it’s more than a dribble. With global tax reporting and FATCA, the list of the individuals who renounced is up. For 2013, there was a 221% increase, with record numbers of Americans renouncing. The Treasury Department is required to publish a quarterly list, but these numbers are under-stated, some say considerably."
"The State Department says it’s about demand on their services and all the extra workload they have to process people who are on their way out." WORKLOAD!!!!
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