What if your assets are not registered in the U.S.? Meaning, they are reported in my tax returns every year, but they are purchased and managed overseas. Does the Exti Tax apply?
Is it not better to just sell shares and pay only 20% capital gain tax instead of 23.8% exit tax? Also, after renouncing you have a flat rate tax of 30%, so why try to avoid the exit tax? What am i missing? Does the exit tax not reset the base price of shares?
What if your assets are not registered in the U.S.? Meaning, they are reported in my tax returns every year, but they are purchased and managed overseas. Does the Exti Tax apply?
Is it not better to just sell shares and pay only 20% capital gain tax instead of 23.8% exit tax?
Also, after renouncing you have a flat rate tax of 30%, so why try to avoid the exit tax?
What am i missing? Does the exit tax not reset the base price of shares?