Yes. I don't get any benefit from being a dual citizen, I just suffer the administrative headache of filing my taxes every year. The only thing holding me back is a fear that New Zealand will become unbearable and I'll wish I hadn't burnt the bridge. But the older I get, the less I care, the more I can bear, the less likely I would go back. It's been 18 years and I'm firmly rooted in this local community. Yes, NZ sucks in many ways but I'm good at living well in spite of it, being one who doesn't desire to amass more wealth than I need to sustain myself.
Discussion
Yeah that’s basically how I feel. There are plenty of things wrong with Italy but I don’t see myself moving back to the states ever. My family living there is the only reason I haven’t pulled the plug already.
Taxation by citizenship is such a shitty system.
Do you end up actually owing anything? I never do, with the foreign earned income exclusion f2555 I don't get taxed on my income, and the standard deduction covers any interest gains (I don't have a lot of cash earning interest), and based on the unbearable compliance costs and complexities of reporting on share investments (stock market) I stopped holding any. So now it's just a lot of necessary paperwork. And I hate paperwork.
Yeah, I always do. Because of the way the Italian/US tax treaty is set up I pay self employment tax in the US and not italy. It’s not double taxation per se, unless you count the thousands I spend every year on accountants. 😖
The most egregious issue is the financial surveillance. All the security theater in the name of AML and terrorist financing. It’s complete bullshit.
Plenty of other citizenships to choose from. Choosing wisely can eradicate the need for visas almost completely when traveling.