London mayor to renounce American citizenship
The mayor of London, who holds dual US-British nationality, has reportedly decided to renounce his American citizenship, citing his bid to run for the UK’s premiership.
“The reason I’m thinking I probably will want to make a change is that my commitment is, and always has been, to Britain,” The Sunday Times quoted Boris Johnson as saying while on a week-long visit to the US.
Johnson’s aides, however, were cited in local media reports as saying that the mayor’s top priority in abandoning his American citizenship was a bid to avoid paying more taxes to US authorities after had recently been forced to settle a large capital gains tax payment statement.
The Conservative British politician has dual nationality since he was born in New York.
“It’s an accident of birth that has left me with this thing. I’ve got to find a way of sorting it out,” Johnson said.
The London mayor, who is also running for the British parliament in Uxbridge and South Ruislip, further stated that he plans to contact US ambassador Matthew Barzun about the move.
“It is a laborious business. They don’t make it easy for you,” Johnson added without elaborating.
This is while British constitutional experts say dual nationality would not present any technical hurdle for Johnson in his bid to become the nation’s prime minister, though he would likely be challenged about his loyalties.
The development comes amid a recent announcement by the US Department of Treasury that more than 3,000 Americans renounced their American citizenship or long-term residency in 2014, which is a new high record, reflecting a 14-percent hike compared to the previous year.
Many experts believe the trend is accelerating due to the US government’s enforcement of a tax law that requires American citizens living abroad to file tax applications and pay taxes on overseas income.
The recent surge is tied to a 2010 law that gives the US Internal Revenue Service (IRS) unprecedented access to US citizens’ foreign bank accounts. For decades tax laws were rarely enforced, but scrutiny of Americans abroad is intensifying because of the country’s budget deficit that spiked after the Great Recession.
MFB/MKA/HMV
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