Only country in the world to tax based on citizenship instead of residency… Being forced to declare taxes as an expat is a hassle. What are these benefits they speak of??? I’d gladly give mine up if it wasn’t such a hassle and so expensive to do so.
I have three nationalities. Born in Argentina and was naturalized at 8 yrs old in the USA when my parents moved. Been living in Canada since 2000 and also a citizen. I am legally bound to declare taxes in the US, even if I never made a penny working there. Revoking citizenship is expensive and requires a lot of paperwork. Fuck you MAGA, fuck you Trump. Take my citizenship away, I’ll gladly give it back. I’ll save thousands per year not having to deal with your backwards ass-shit citizenship based tax laws.
FATCA Act. Canada and USA have an agreement. The USA can literally take money from a Canadian citizen’s bank account.