nullptrMar 10

"US Person": is a red flag for financial institutions in Europe

https://lemmy.world/post/44073145

"US Person": is a red flag for financial institutions in Europe - Lemmy.World

I saw some posts about american wanting to move to Europe; so just before you guys make the move, double-triple check insurances/banks, because literally every time I (not american) do smth financially related in France, they ask me if I am american? If yes, they won’t even open accounts/ give me insurance etc… Sounds discriminatory but apperently because legal I dont know if that expands to any other field

Show threadPlutoniumAcidMar 10

Google FATCA, the US Foreign Account Tax Compliance Act.

Anyone anywhere in the world that is either US citizen, or a green card holder, or in other ways related to Murica, must pay US taxes. It’s insane, but the US tax system is powerful enough to bully all other countries into compliance.

Don’t get me started. 🤮

Show threadP03 LockeMar 10
Citizenship isn’t free. You don’t get to have your cake and eat it, too.
Show threadboonhet

In other countries, you pay taxes if you actually live there. If I move to Spain and live there for enough days per year, my taxes go to Spain, not Estonia.

The US system I believe means you get double taxed if you live and work elsewhere, although I’m not 100% sure.

Mar 10 at 7:28pmWeb
Show threadmcvMar 11
I think you can usually deduct the taxes you pay elsewhere, but you will still have to file your taxes, which is apparently a rather painful process in the US.