June 18, 2022 11:50am
Updated: June 18, 2022 11:54am
Close to one in four American expatriates living abroad have considered renouncing their U.S. citizenship, with a large plurality of those citing the burdensome U.S. tax system as their primary justification.
The survey, conducted by Greenback Expat Tax Services, found that, of Americans living in other countries, 20 percent were “seriously considering” renouncing their citizenship, while six percent were “planning” to do so.
“Survey respondents cited taxes as the top reason for considering citizenship renunciation,” the company said, with “40% find[ing] filing US taxes too great of a burden.”
Of other expatriates considering renouncing their citizenship, “15% are concerned about the current political climate,” while “10% are disappointed in the direction of the US government.”
Over a third of the surveyed expatriates had spent 20 or more years out of the country, while roughly 25% had spent at least 10 years away from home.