Post: #1

http://www.theglobeandmail.com/report-on...e16710461/

Quote:For American citizens living in Canada, this really is the indication that there is nowhere left to hide

Canada, the last G7 country to do so, has finished its information sharing agreement with the IRS on ratting financial information for American born people living in Canada as canadian citizens or otherwise.

The intent is to crack down on tax evasion but it also has a side effect of finding everyone who hasn't filed taxes in the US. There is no statute of limitations for not filing tax returns in america, so if if Betsy the draft dodger from upstate new york has not filed taxes in America since 1973 but is still a citizen she could potentially have 30 years of interest and penalties. That is a revenue gold mine.

I know I post this sort of thing often, but I think seeing other countries just roll over like a fat beagle getting a belly rub for something as trivial as taxes liable to a foreign government is mind boggling.

I'm also expecting a fair amount of 'bycatch' to happen with this as well. Remember all of those news stories for people who were screwed over by having the same names as those on no fly lists? I guarantee there are canadians who are going to get similar headaches because they share a name with an american.

This is why I'm happy to become an american because the flow of information does not go the other way as easily. Italy wants a convicted murderer back? America tells them to go F themselves. America, global tyrant or not, does not give up its own in the same way it expects other nations to do...though on this forum I expect someone can provide evidence to the contrary.

Post: #2

Sounds like the end of Rome when soldiers were enforcing taxes in the marketplaces.

Post: #3

This may sound harsh but the hard truth is this: if you are an American citizen and are successful and have your shit together, then your citizenship could become one of your greatest cockblocks if not out right a liability. Simon Black has been preaching about this for years...

Post: #4

Quote:I know I post this sort of thing often, but I think seeing other countries just roll over like a fat beagle getting a belly rub for something as trivial as taxes liable to a foreign government is mind boggling.

Thank God Russia and China won't be rolling over anytime soon.

Post: #5

Yeah, I think if you're American and planning any long-term moves abroad, you definitely should start thinking about how to get another citizenship. Even if you don't renounce your US citizenship, you can use a second one to go 'off the radar'. I.e. just stop using your US passport and never renew it or have any other dealings with the US government unless you absolutely have to return.

Post: #6

And the U.S. is making it harder for you to renounce you citizenship.

Post: #7

Bitcoin.