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Author Topic: Cost To Renounce US Citizenship Goes up 420+%  (Read 646 times)
Chef Ramsay
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August 31, 2014, 05:49:14 PM
 #1

The US embassies will now be charging $2350 for the "service" of renouncing your US citizenship.

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Since that time, demand for the service has increased dramatically, consuming far more consular officer time and resources, as reflected in the 2012 Overseas Time Survey and increased workload data. Because the Department believes there is no public benefit or other reason for setting this fee below cost, the Department is increasing this fee to reflect the full cost of providing the service. Therefore the increased fee reflects both the increased cost of the provision of service as well as the determination to now charge the full cost.

https://www.federalregister.gov/articles/2014/08/28/2014-20516/schedule-of-fees-for-consular-services-department-of-state-and-overseas-embassies-and

Original price $450
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Balthazar
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August 31, 2014, 08:25:34 PM
 #2

I think that such thing as freedom deserves to pay not only in 2500, but 10000 or even more without any issues.

https://bitcointalk.org/index.php?topic=518645.msg8580675#msg8580675

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Mike Christ
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August 31, 2014, 08:39:03 PM
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This is incredibly inefficient; they put you into this thing that you never asked for, then charge you a ridiculous amount to get it taken off, if they allow it.  They could always just leave you alone but that would imply you aren't their property LOL

Swordsoffreedom
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August 31, 2014, 09:41:39 PM
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So in other words its still cheap not as cheap as it used to be but considering that the US uses the definition of Worldwide income for taxation purposes it saves people who have good passports from needing to pay more taxes to the US government a significant cost savings.

When the Citizens and the Corporations want to leave somethings up
http://www.telegraph.co.uk/finance/economics/11065125/US-taxes-are-far-too-high-no-wonder-companies-are-fleeing.html

 A study by German economists ranked the United States 94 out of 100 nations for overall “business tax attractiveness”, behind countries such as Pakistan, Greece, Russia and Nigeria.

Given these bad policies – a high tax rate and a worldwide tax system – imagine you are a major investor in, or senior manager of, an American-domiciled company that competes in global markets. If you can somehow take your corporate charter (and thus your legal HQ) out of a filing cabinet in the United States (most likely in Delaware) and shift it to a filing cabinet in a nation with better tax policy, that one step can substantially benefit shareholders, with secondary benefits for employees and customers. Hence that’s why US firms are buying foreign ones and then relocating themselves abroad. It’s important, however, to understand that there are limits to what an inversion can achieve.

 No matter where a company redomiciles, for instance, that doesn’t change the fact that it will still owe tax to the IRS on US-sourced income. But no longer having to pay tax on non-US-sourced income is more than enough reason to consider a new home.
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August 31, 2014, 10:09:42 PM
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I'm not surprised. The American government must have seen that there are more and people fleeing the country, so that's an opportunity to make money.

Regarding corporations, it's another subject, but there are much more reasons for a corporation to leave than there are for an individual. Personal income tax is still reasonable in most US states. It's property tax and corporation tax which are way too high.
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