The new Labour government plans to scrap many tax benefits that non-doms currently receive. We had some coming from Norway after their wealth tax changes.
As more countries tighten or eliminate tax-preferred rules for the rich, maybe we’ll see a global game of musical chairs as the globally mobile rich look for greener pastures?
https://www.ft.com/content/438b3cbf-cd73-4949-87ca-406063079912
Quite simple…get rid of all the chairs.
Why so many moving to US?
ridiculously low taxes?
But Harris is going to pillage them. As I would.
Naaaaah…she can’t change the insanely Byzantine tax laws with a few strokes of the pen. Loops and loops and loops are available. You should see what accountants recommend in terms of deductions, both business and personal. The IRS just went after a few billionaires who hadn’t paid taxes in years. Woopie. If Trump gets in, he will dismantle the already strapped IRS, and that will be the end of it.
No federal wealth tax, generous allowances for inheritances.
