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Taiwanese Americans Give Up Citizenship to Avoid Taxes

Sing Tao Daily, Posted: Sep 17, 2009

LOS ANGELES According to Sing Tao Daily, high-income Taiwanese Americans are planning to give up their Taiwanese citizenship because as of Jan. 1, 2010, the Taiwanese government will begin to collect taxes from overseas Taiwanese who live in Taiwan more than 183 days a year and have an annual income over $200,000. The Taiwanese government believes the new taxation law will only affect a small portion of overseas Taiwanese, but American accountants argue that a large number of professional Taiwanese Americans will also be affected. Moreover, Taiwanese Americans are concerned that their domestic financial information will be exposed to the Taiwanese government. Most Taiwanese immigrants keep their Taiwanese citizenship after becoming American citizens in order to continue to enjoy universal health care benefits and voters' rights in Taiwan.

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