I recently discussed the choice being made by some U.S. citizens living abroad to renounce their U.S. citizenship in order to avoid being subject to the Foreign Account Tax Compliance Act.
But there is another kind of renunciation that has also become increasingly popular of late: corporate inversions. When a U.S. company buys a company in another, more tax-advantageous country and then designates the foreign jurisdiction of the newly merged company as the legal home of the multinational corporation, the U.S. company has effectively renounced its U.S. citizenship. Read the rest of this entry »
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