US Expats Flee Taxman’s Reach By Giving Up Citizenship – Live & Invest Overseas News

US Expats Flee Taxman’s Reach By Giving Up Citizenship – Live & Invest Overseas News

After 20 years living in Switzerland, Scott Schmith renounced his American citizenship, to escape the obligation to report his income and assets to the US government.

“I have nothing to hide. But I don’t want to be punished because I chose to live outside the United States,” said the new Swiss passport holder, a photographer who lives near Zurich.

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