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German taxes based on nationality like USA

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In September in germany are new elections.High probably green/red/red will win who are planning to increase massivly taxes.Nothing what we didn't thought already but it is now also high probable that they will implement global taxation based on nationality like the US.
 
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In September in germany are new elections.High probably black/red/red will win who are planning to increase massivly taxes.Nothing what we didn't thought already but it is now also high probable that they will implement global taxation based on nationality like the US.
Where did you get that info that Germany may end up doing global tax?
 
In September in germany are new elections.High probably green/red/red will win who are planning to increase massivly taxes.Nothing what we didn't thought already but it is now also high probable that they will implement global taxation based on nationality like the US.
What's your question?
 
Imagine all countries do this. What if someone with a U.S. Green Card is suddenly subject to global taxation in 2 countries. Next, imagine that person now works in a totally different country and is required to submit 3 tax returns. It's getting intractable really quickly.

There's a simple solution: governments, just do what you're good at (nothing) and stop spending taxpayer money.
 
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A realistic solution to avoid global taxation
1. Renounce your german citizenship
2. Renounce your citizenship (German)
3. Something that has to do with renouncing your... I don't remember ... citizenship... I guess
4. Have you thought about renouncing your current citizenship? Is it a german one?

What else could it be?
 
If you live in a tax-friendly jurisdiction, you could simply keep profits in companys (maybe a US LLC for personal expenses) I guess. Also, rich germans residing in neighbour countries but with substance in germany will have a foundation or a GmbH + holding GmbH ("vermögensverwaltende GmbH") in place. I don't see how this would "tax the rich" ...
 
1. Renounce your german citizenship
2. Renounce your citizenship (German)
3. Something that has to do with renouncing your... I don't remember ... citizenship... I guess
4. Have you thought about renouncing your current citizenship? Is it a german one?

What else could it be?
this + getting another citizenship
 
1. Renounce your german citizenship
2. Renounce your citizenship (German)
3. Something that has to do with renouncing your... I don't remember ... citizenship... I guess
4. Have you thought about renouncing your current citizenship? Is it a german one?

What else could it be?
Life is all about maximizing your options. When you renounce your citizenship, you lose a citizenship and you reduce your options. It is a drastic remedy. Without knowing his exact factual scenario, this is very bad advice.
 
obviously that should be done if such rule is approved
Why? Even if the Green Party implements global taxation based on citizenship, just like the U.S., he may have other options. For example, U.S. citizens can reduce their tax rate from 40% (or even over 50%, if they live in a very high tax area such as NYC) down to 15%, or even less, by moving from the U.S. and creating an offshore business.

Many hedge fund managers in NYC moved to Puerto Rico for the 4% tax rate. Renouncing your citizenship is a drastic remedy that is hardly ever warranted.
 
Why? Even if the Green Party implements global taxation based on citizenship, just like the U.S., he may have other options. For example, U.S. citizens can reduce their tax rate from 40% (or even over 50%, if they live in a very high tax area such as NYC) down to 15%, or even less, by moving from the U.S. and creating an offshore business.

Many hedge fund managers in NYC moved to Puerto Rico for the 4% tax rate. Renouncing a citizenship is a drastic remedy that is hardly ever warranted.
why holding a nationality that gives you more problems than good things?
 
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why holding a nationality that gives you more problems than good things?
Perhaps you want to visit your elderly parents, or other family members, whenever you wish -- and perhaps that is worth more to you than any amount of money. Perhaps you want to live elsewhere in the EU and you need an EU passport to do that. Perhaps after several years, you discover that living offshore is not for you and that you would prefer returning to your homeland and paying high taxes, rather than living elsewhere. There could be 100 reasons.

Again, life is all about maximizing your options, not reducing them. Renouncing citizenship limits your options.
 
Perhaps you want to visit your elderly parents, or other family members, whenever you wish -- and perhaps that is worth more to you than any amount of money. Perhaps you want to live elsewhere in the EU and need an EU passport to do that. Perhaps after several years, you discover that living offshore is not for you and that you would prefer returning to your homeland and paying high taxes, rather than living elsewhere. There could be 100 reasons.

Again, life is all about increasing your options, not reducing them.
with each day,the UE turning more into a kind of soviet union I hardly doubt that so much expats would return there
 
Sometimes it's about existence of good alternatives. Even the USA is turning into a Soviet Union right now. Seems fashionable these days.
It is simply historical cycles repeating themselves. I listed three books on the topic in this post:
https://www.offshorecorptalk.com/th...r-legit-earned-money.33150/page-2#post-172977
When you study history, and understand that it repeats, it really provides a great incentive to get prepared. The world is not comprised of random events. Human nature is such that humanity continues to repeat the same mistakes over-and-over again. By the time that the generation that made a catastrophic mistake dies off (roughly 80 years later), a new generation is now ready to make similar mistakes. It has not learned the lessons of history and, in its hubris, believes that it knows best.
 
Sometimes it's about existence of good alternatives. Even the USA is turning into a Soviet Union right now. Seems fashionable these days.
true and plenty of expats are renouncing to their citizenship
 
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