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More Americans giving up citizenship

Discussion in 'BlackHat Lounge' started by Roparadise, Aug 9, 2013.

  1. Roparadise

    Roparadise BANNED BANNED

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    http://finance.yahoo.com/news/americans-giving-passports-jump-sixfold-105958873.html


    There is a new tax rate of 4.6% on all income above $400,000 starting in 2013,as well as an increase to 20% on all capital gains if you earn more then $400,000 a year. Are probably the reason why more are giving up citizenship.
     
  2. TheMasterOfMoney

    TheMasterOfMoney Jr. VIP Jr. VIP Premium Member

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    We will make you company in Romania
     
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  3. Roparadise

    Roparadise BANNED BANNED

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    Being based out of Romania isn't that good compared to being based out of Bulgaria for example I would have to do the following if I decide to live in Romania fill time instead of just have a weekend apartment in Bucharest but living and working in Bulgaria.

    1. Setup a Bulgarian Company
    2. Buy property in Romania
    3. Sell Property to that Bulgarian Company for a profit.

    Then income tax goes from 16% down to 3% on first 200,000 RON in income and 2% on every 1RON over that amount.

    But If I base myself out of Bulgaria I could day trade on any EU or EEA exchange and my income would be tax exempt compared to the 16% tax I would be paying in Romania for being a day trader.
     
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    Last edited: Aug 9, 2013
  4. Numbuh362

    Numbuh362 Elite Member

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    Everyone should be taxed fairly. $400,000 may seem like a lot but it's not. The people who make $250-500k a year usually work their asses of for it.
     
  5. deathspank

    deathspank BANNED BANNED

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    my opinion on taxes is that they shouldn't apply if you don't own property in your home country if you have lived in your home country for over 2 years you should be paying the tax to the country youre in
     
  6. kaylanewett

    kaylanewett Power Member

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    I'm soon to be one of them :)