US and them – Aaron Woolner column
Dodd-Frank makes Asia dealers reconsider US relationships
Record numbers of Chinese are giving up their US green cards, according to the South China Morning Post (SCMP), and returning to being full-time citizens of China. But it’s not patriotism that is driving this trend, but instead cold hard cash. Or more precisely, taxes. The US taxes its citizens on a global basis – a fact that often comes as a surprise to many of the 90,000 or so Chinese a year who are granted a green card.
Add the Foreign Account Tax Compliance Act (Fatca) into the mix, giving
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