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I didn't realize that incurring a cost before it was reduced was lawsuit worthy. I'll have to remember that next time I buy something before a price drop.
It sounds like they're arguing that the increase was unnecessary, and done to dissuade people from doing it, rather than being reflective of the costs of the process. When they undid the price increase to be in line with other foreign services, they felt that showed that their claim has merit.
But the claim to begin with was that they increased the price due to increased demand straining resources. It would be more odd if it didn't come down after a time with that justification.
Increased demand would bring increased revenue to cover increased resources, no?
increased resources
Hah, good one.
Generally governments don't work on such a simple profit model. Especially not when activity in one sector (removing citizenship) damages activity in another (collecting taxes).
TBF, dissuading most citizens from it probably should be a goal to avoid capital flight.
The problem comes from edge cases where a "citizen" has never lived on American soil and doesn't intend to act on their entitlement to US citizenship.
You have to pay to get out? Never knew that.
The government always get something
The article makes it sound like the FACTA laws only apply to US citizens, but they also apply to all residents of the US, whether you’re a citizen or just there on a visa. Also, if you are required to file FACTA, you are also required to use a tax attorney, not just a tax accountant, which increases the costs even more.
Oh well that adds another layer doesn't it
this post was submitted on 05 Oct 2023
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