- The number of published expatriates for the quarter was 2,365, bringing the total number of published expatriates in 2016 to 5,411.
- The total for the 2016 year breaks the 2015’s record number of 4,279 published expatriates.
- The number of expatriates for 2016 is a 26% increase over 2015 and a 58% increase over 2014 (3,415).
On April 8, 2015, we posted Is it Time to Expatriate, where we discussed that the 2014 list of US expatriates’ shows an increase in the number of Americans who are renouncing their US citizenship or turning in their green card. We also discussed that the escalation of offshore penalties over the last 20 years is likely contributing to the increased incidence of expatriation.
The connection between the list of expatriates and the IRS implies a link to tax policy.
The U.S. is one of a very small number of countries that tax based on nationality, not residency, leaving Americans living abroad to face double taxation.
The escalation of offshore penalties over the last 20 years is likely contributing to the increased incidence of expatriation.
Read more at: Tax Times blog