America is scratching its head over tax changes too

 

 

The US is scratching its head about changing from citizenship-based taxation, with American citizens taxed on their worldwide income, to a system of residence-based taxation, with Americans truly resident in another country not taxed on their foreign income.

 

Should Congress draw up short of extending RBT treatment to individuals in “tax havens”? And what about those who benefit from a “non-dom” or “golden visa” regime?

It’s time for countries to put heads together and ask: “What are we really doing here?”

 

See letter here.