Of the nearly 200 names on the list, more than 80 appeared to be Chinese. Potential reasons for this are the lower taxes in China compared to the US. The highest income tax rate in Hong Kong is 15%, with no tax at all on capital gains (28% in the US), dividends (39.6% in the US) or estates (55% taxed for dying in the US in 2013). Further, there’s no tax on foreign earnings. This is not so in the US.
So Long and Thanks For All The Taxes n’ Regulations: More Renounce US Citizenships – The Dollar Vigilante Blog –Posted: August 6, 2012 in Uncategorized