Readers Digest Version: The Bottom Line Is …
As reported by American Expat Finance, which discusses an interview with Dr. Bernard Schneider of Queen Mary …
John Richardson Podcast: Dr Bernard Schneider, an expert in int'l tax law at Queen Mary U in London, says China does NOT have a US-style citizenship-based tax regime and isn't moving that that direction. (It does have somewhat "sticky" domicile regs…) https://t.co/hP4vkhaeHj pic.twitter.com/jRa1waZ1Ph
— Helen Burggraf (@helenburggraf) July 20, 2020
You can listen to the podcast …
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The Longer Version: “Tax Residency” Based Information Exchange In The 21st Century
The 21st Century has ushered in FATCA, CRS, voluntary disclosure programs and a general awareness of taxation. Many people have been subjected to the FATCA inquisition (“Are you or have you ever been a US citizen?) or a CRS motivated inquiry about “tax residence” (“List all countries where you are a tax resident.”)
In the 21st, the “citizenship by investment industry” is booming. There are many opportunities to acquire (through investment programs) “permanent residency” in a county. (I will refer to these programs collectively as “economic migration”). The value of these “economic migration” programs, to a specific individual, is largely determined by considerations of tax residency.