Reason.com - Free Minds and Free Markets
Reason logo Reason logo
  • Latest
  • Magazine
    • Current Issue
    • Archives
    • Subscribe
    • Crossword
  • Video
  • Podcasts
    • All Shows
    • The Reason Roundtable
    • The Reason Interview With Nick Gillespie
    • The Soho Forum Debates
    • Just Asking Questions
    • The Best of Reason Magazine
    • Why We Can't Have Nice Things
  • Volokh
  • Newsletters
  • Donate
    • Donate Online
    • Donate Crypto
    • Ways To Give To Reason Foundation
    • Torchbearer Society
    • Planned Giving
  • Subscribe
    • Reason Plus Subscription
    • Print Subscription
    • Gift Subscriptions
    • Subscriber Support

Login Form

Create new account
Forgot password

Policy

U.S. Tax Rules Drive Dual-Citizenship Taiwanese To Drop American Passports

Huge costs and hassles

Reason Staff | 1.28.2013 3:50 PM

Share on FacebookShare on XShare on RedditShare by emailPrint friendly versionCopy page URL
Media Contact & Reprint Requests

A number of Taiwan residents with dual nationalities have chosen to renounce their American citizenship to avoid taxes under FATCA, formally known as Foreign Account Tax Compliance Act, according to local media reports.

Ruling Kuomintang Legislator Lai Shyh-bao was quoted as saying that scores of owners of small- and medium-sized enterprises and management executives have begun proceedings to relinquish their U.S. citizenship.

Because of FATCA and the latest U.S. decision to increase taxes on those whose annual income exceeds US$400,000, Lai said Taiwan residents with U.S. citizenship could be taxed up to NT$15 million (US$515,464) if they sell real estate in Taiwan, while they may just need to pay NT$1 million in taxes.

Start your day with Reason. Get a daily brief of the most important stories and trends every weekday morning when you subscribe to Reason Roundup.

This field is for validation purposes and should be left unchanged.

NEXT: Tancredo Breaks Pot Promise but Remains Pro-Choice

Reason Staff
PolicyWorldTaxesFinancial Regulation
Share on FacebookShare on XShare on RedditShare by emailPrint friendly versionCopy page URL
Media Contact & Reprint Requests

Show Comments (1)

Latest

Maryland's New 3 Percent Tax Will Chill the State's Emerging Tech Sector

Tosin Akintola | 7.6.2025 6:30 AM

Conflicts and Contrasts Make Jerusalem Endlessly Fascinating

Jacob Sullum | From the August/September 2025 issue

In Defense of the Tourist Trap: Why Following the Crowd Might Be the Smartest Way To Travel

Christian Britschgi | From the August/September 2025 issue

69 Percent of Americans Say American Dream Is Not Dead

Autumn Billings | 7.4.2025 8:30 AM

With Environmental Regulatory Reform, California Gov. Gavin Newsom Finally Does Something Substantial

Steven Greenhut | 7.4.2025 7:30 AM

Recommended

  • About
  • Browse Topics
  • Events
  • Staff
  • Jobs
  • Donate
  • Advertise
  • Subscribe
  • Contact
  • Media
  • Shop
  • Amazon
Reason Facebook@reason on XReason InstagramReason TikTokReason YoutubeApple PodcastsReason on FlipboardReason RSS

© 2024 Reason Foundation | Accessibility | Privacy Policy | Terms Of Use

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

r

Do you care about free minds and free markets? Sign up to get the biggest stories from Reason in your inbox every afternoon.

This field is for validation purposes and should be left unchanged.

This modal will close in 10

Reason Plus

Special Offer!

  • Full digital edition access
  • No ads
  • Commenting privileges

Just $25 per year

Join Today!