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Title: Boris Johnson Renounces U.S. Citizenship The British foreign secretary had previously complained about a U.S. tax bill.
Source:
US NEWS
URL Source: http://www.usnews.com/news/national ... etary-renounces-us-citizenship
Published: Feb 9, 2017
Author: Curt Mills
Post Date: 2017-02-09 14:12:17 by noone222
Keywords: None
Views: 193
Comments: 6
Boris Johnson, the British foreign secretary and former London mayor, has renounced his U.S. citizenship, according to recently released tax data. Though thoroughly British -- a member of Parliament and educated at Oxford -- Johnson was born in New York. At the time of his birth, his father, British author Stanley Johnson, was studying at Columbia. RELATED CONTENT LONDON, UNITED KINGDOM - FEBRUARY 04: American passport lays on a wet pavement after it was burnt at the demonstration outside the US Embassy on February 04, 2017 in London, England. Thousands of people take part in a protest against Donald Trump's executive order temporarily banning immigrants and refugees from seven majority Muslim countries to travel to the US. The participants gather outside the US Embassy in Grosvenor Square and march through central London to Downing Street in opposition to Donald Trump's policies and against the British government supporting the President of the United States . PHOTOGRAPH BY Wiktor Szymanowicz / Barcroft Images Record Number Renounce U.S. Citizenship in 2016 Johnson in 2014 complained about an Internal Revenue Service tax bill on the sale of a London house, calling the fees "outrageous." As London mayor, he took a leadership role in the city's 2012 Olympics. A former journalist, Johnson is now known in Europe as a bombastic and colorful politician, with a personal life highly scrutinized in the press. A prominent supporter of British exit from the European Union, it was thought he would be a candidate for prime minister last year, before political machinations suddenly forced him out of the race. When Theresa May became prime minister, she asked him to serve as foreign secretary. He joins a number of people who are renouncing American citizenship, among the most coveted passports in the world. Expatriation is not new, but the number of people renouncing their formal U.S. ties has seen an uptick in recent years. Before 2011, less than 1,000 people annually expatriated. In the final quarter alone of 2016, however, more than 2,300 went through the process. It has been pointed out that it's possible Donald Trump's election as president is contributing to the rise. A number of prominent figures pledged to leave the country if the New York mogul won last November. Attorneys Andrew Mitchel and Ryan Dunn highlight taxation as another motive. [READ: U.S. Announces Additional Sanctions On Iran] "The escalation of offshore penalties over the last 20 years is likely contributing to the increased incidence of expatriation," the two write on International Tax Blog. Johnson has been weary of Trump in the past, but has increasingly defended working with him since he won election. The issue of Trump being afforded a state visit is particularly contentious in the United Kingdom. Johnson, the top diplomat for May's government, says he should. "He is the elected head of state of our closest and most important ally and there is absolutely no reason why he should not be accorded a state visit, and every reason why he should," Johnson told Parliament in January. Tags: Boris Johnson, Great Britain, London, U.S. Citizenship and Immigration Services, Brexit, Donald Trump, taxes, United Kingdom Poster Comment: WTF ... someone splain it to me !!!
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#1. To: noone222 (#0)
(Edited)
Explain what? He was a US citizen by birth, but probably lived most of his life in England. The IRS hit him with a tax penalty on the sale of a British home. He got pissed, and he renounced, realizing the benefits of remaining a US citizen were outweighed by the burden. While the percentage of expats living abroad who have renounced citizenship is still very small, it has been on the rise for the last 6-7 years due mostly to FATCA regulations that mandate foreign banks report data to the US Treasury about bank account info of any US citizens they hold accounts for. Some of these banks have opted to close accounts of US citizens rather than comply with these reporting requirements or suffer the penalties of not reporting. The affected US citizens are therefore encouraged to renounce US citizenship as a means of being permitted to have banking services with these banks, and they are in increasing numbers. Like with this Boris guy, they are realizing the cost of remaining a US citizen is too high.
I guess I was surprised that he was able to become the Mayor of London while remaining a U.S. citizen. Is he a dual citizen ?
He was, apparently. I imagine the British laws are similar to the US. If you are born of a British parent or born in the country you are a British citizen. And I don't think renouncement is possible unless you have an alternate citizenship. Be kind of a Darwin Award otherwise!
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Top • Page Up • Full Thread • Page Down • Bottom/LatestWTF ... someone splain it to me !!!
#2. To: Pinguinite (#1)
#3. To: noone222 (#2)
Is he a dual citizen ?
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