“A number of Taiwan residents with dual nationalities have chosen to renounce their American citizenship to avoid taxes under FATCA, formally known as Foreign Account Tax Compliance Act, according to local media reports. Ruling Kuomintang Legislator Lai Shyh-bao was quoted as saying that scores of owners of small- and medium-sized enterprises and management executives have begun proceedings to relinquish their U.S. citizenship.”

http://www.taiwannews.com.tw/etn/news_content.php?id=2121625

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