Additional Foreign Account Tax Compliance Act (FATCA) regulations are enticing around 73% of Americans living abroad to renounce their US Citizenship. Following the introduction of the new global tax law in June 2014, the number increased by 39% in three months.
The Moscow Times’ Mark Gay and Igor Makarov, a partner at law firm Baker & McKenzie’s Moscow office, discuss the benefits of Russian nationals holding duel citizenship, in view of the new legislation.
Do the benefits of visa-free travel out way the need for disclosure?
