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Forex Would you renounce your citizenship to pay less tax?

Discussion in 'Forex Forum' started by richyRich27, Sep 3, 2018.

  1. richyRich27

    richyRich27 Guest

    Im sure this idea is considered tax evasion by western nations.

    The fact remains there is an endless list of countries that are much less greedy for the money high net worth individuals make.

    Would you renounce your citizenship and turn in your passport to live in a country that asks for much less tax?

    Wikipedia provides a list you can sort by percentage (scroll down to the list)

    I trade as a sole trader, I dont believe in incorporating with a business like trading as their is no real tax writes you can make. And even if you do, its your company tax, you still cant put it into your own pocket and buy a house without paying the full tax rate. In australia Mr Prime Minister wants 50%

    I could go to new zealand with minimal paperwork and still an english speaking nation and save 20% on my homelands high charges.

    I could go live in Monaco on the french riviera and pay 0% income tax.

    If you were taking in 6 million per year and every year you had to hand over 3 million on tax...would you take a new citizenship somewhere else?

  2. Nathan Detroit

    Nathan Detroit Well-Known Member Founding Member

    Dec 25, 2014
    I would never renounce my citizenship for tax purposes .
    Dr. Sir Anyone Anyone likes this.

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