Renunciation of US Citizenship & Exit Tax
Did you know that more than 4,000 people renounced their US citizenship in 2017? This is a figure which has been high for a number of years, and potentially could be attributed to the far-reaching impact of FATCA legislation.
Renouncing your US citizenship can be a difficult and emotional decision, before even beginning to consider the tax implications. Depending on your level of wealth, an “exit tax” may apply. It is extremely important that your tax professional understands renunciation, and its appropriate forms before beginning the process.
Here at US Global Tax, we have assisted a large number of US citizens who have chosen to renounce their citizenship. Many clients choose us for our friendly, helping hand through the process, and our expert knowledge in ensuring that the renunciation is handled correctly for tax purposes.
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