Credit: jannoon028/Adobe Stock; Globalization and Blurred Borders, Part Two: Taxation
Although international borders are becoming blurred where people, money and commerce move across most of the Western world with ease and dual citizenship is commonplace, there are still at least two areas where the lines on maps remain clear: taxes and succession. The more peoples' personal and business lives become globalized, the more important it is for them to be aware of tax and succession consequences. In Part One of this two-part series, author David Faust discussed succession. This article deals with taxation.
November 14, 2023 at 10:00 AM
8 minute read
Globalization is both a business and personal phenomenon. One need not be mega-rich to have homes in more than one jurisdiction. Spouses with different nationalities are not unusual. Children may settle, and become domiciliaries or tax residents, in different countries, often becoming dual citizens. Likewise, business has become global: supply chains, manufacturing, marketing and financing are increasingly complex, without regard to borders.
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