TRUSTS AND THE PECULIARITIES OF INTERNATIONAL TAXATION
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TRUSTS AND THE PECULIARITIES OF INTERNATIONAL TAXATION
Annotation
PII
S268667300000619-0-1
Publication type
Article
Status
Published
Edition
Pages
109-126
Abstract
The U.S. richest citizens continue to leave the United States. To slow this trend down the US Congress has adopted 26 USC 877(a)(1) provision. Under this law the expatriates and above all the beneficiaries of foreign trusts, may be taxed for five years after they renounced their citizenship. Moreover, under 8 USC 1182(a)(10)(E) these expatriates may be prohibited from coming back to the USA.
Keywords
REVENUE RULE, CAPITAL GAIN, NATIONALITY, DOMICILE, BENIGN NEGLECT, EXIT TAXATION
Date of publication
01.11.2011
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693
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