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According to media, estate and gifts received by US citizens from people who have renounced their US citizenship is about to be taxable.
DATE: September 18, 2015 | AUTHOR: atlawyers
According to media, estate and gifts received by US citizens from people who have renounced their US citizenship is about to be taxable. Currently, US citizens are exempt from tax on gifts and estate received from a foreign person, provided that the property is not sited within the United States. According to the new rules payment of tax will become obligatory in any case, exclusive of gifts to spouses or charity.