Re: Green card abuse

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Nobody Special

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Apr 8, 2022, 8:09:46 PMApr 8
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On 08/04/2022 22:19, Jethro_uk wrote:
> It appears the UK Chancellor of the Exchequer held a green card up until
> 2021.
>
> If we take it that res ispsos loquitor, what action if any could the US
> pursue against him ?
>
None as far as I know because Green Card Holders are required to pay
taxes on their world wide income so it benefits them if UK Chancellor
has Green Card. It is costly for the guy so USA won't complain. There is no abuse here!

John Levine

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Apr 9, 2022, 9:57:47 AMApr 9
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According to Nobody Special <Nobody....@example.onion>:
Seems to be a trend. UK prime minister Boris Johnson was born in New
York and was still a US citizen when he sold an expensive house in
2015 in London and got a US tax bill.

He could easily have avoided the tax by transferring his interest to his
wife before selling it, but planning ahead was never his strong point.

https://www.bbc.com/news/uk-politics-30932891

He finally renounced his US citizenship in 2016.

https://money.cnn.com/2017/02/09/news/boris-johnson-us-citizenship/index.html

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John Levine, jo...@taugh.com, Primary Perpetrator of "The Internet for Dummies",
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Stuart O. Bronstein

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Apr 9, 2022, 9:58:20 AMApr 9
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While that is strictly true, there is also a tax treaty between the
US that, among other things, essentially guarantees that a person
won't be taxed on the same income in both countries.

And why would the US care if he had a green card? I can't think of a
single reason. If anyone would have a problem with that, it seems to
me, it would be the UK.


--
Stu
http://DownToEarthLawyer.com

Nobody Special

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Apr 9, 2022, 5:56:40 PMApr 9
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On 09/04/2022 14:58, Stuart O. Bronstein wrote:
> While that is strictly true, there is also a tax treaty between the
> US that, among other things, essentially guarantees that a person
> won't be taxed on the same income in both countries.

The tax treaties will give credits for foreign taxes paid but they are
nevertheless taxed in both countries. For example, if a UK resident pays
tax in the UK on his primary income derived in the UK then UK has first
priority to tax him but US might also be interested in his income and
tax him accordingly at the rate applicable in the US. BUT and big BUT
that a credit is given for any taxes already paid in the UK. That is
what we do in the UK on foreign income and I guess this is all governed
by OECD model <https://www.oecd.org/tax/treaties/> for tax treaties applicable world wide. If the tax rate in
the US is higher than UK then the difference is payable in the US
otherwise no tax is payable in the US.

Rishi Sunak, British Finance Minister, has a property in the US where he
visits twice a year with his family. His wife also has a Green Card but
is Indian Citizen because India doesn't allow its citizens to have dual
nationality. Both Husband and Wife are US graduates from Stanford
University (MBA) and both have worked in the US before they came to the
UK to settle down. Both are millionaires in their own right and nobody
is claiming that their wealth is from illegal activities. Wife is the
daughter of InfoSys founder based in India and Rishi Sunak also comes
from a very wealthy family but we know very little about his parents.
Indians are generally very private people.


>
> And why would the US care if he had a green card? I can't think of a
> single reason. If anyone would have a problem with that, it seems to
> me, it would be the UK.


I agree this and the reason this story is in the public domain recently
because Boris Johnson is in real trouble because of PartyGate scandal
and he could be replaced and the likely candidate to replace him his
Rishi Sunak. the story is licked by Downing street insiders, so it claimed in the papers.




Stuart O. Bronstein

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Apr 9, 2022, 6:12:54 PMApr 9
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Jethro_uk <jeth...@hotmailbin.com> wrote:
> Stuart O. Bronstein wrote:
>
>> And why would the US care if he had a green card? I can't think
>> of a single reason. If anyone would have a problem with that, it
>> seems to me,
>> it would be the UK.
>
> Isn't a green card issued under the explicit presumption of
> permanent residence ?

A green card represents permanent residence. That doesn't mean the
person has to be in the US for 365 days a year. I'm not an expert on
immigration law, but my recollection is that a green card allows the
person to do whatever they want in terms of travel. Before the green
card arrives travel is restricted, but I don't think it is afterwards.


--
Stu
http://DownToEarthLawyer.com

Roy

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Apr 9, 2022, 6:24:05 PMApr 9
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The green card is also a permanent visa. It allows a person to travel
to and from the US without the restrictions of a non-immigrant visa.

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