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For years, the United States has maintained a system of citizen-based taxation, where U.S. passport holders must file tax returns and potentially pay taxes on global income, regardless of their residence. This policy extends its reach across borders, confounding many Americans living abroad as they navigate a complex maze of tax obligations.
In a surprising political maneuver, one French political candidate, despite losing her bid for office, ignited discussions on adopting a similar taxation model. The fear is now becoming a reality. A recently adopted amendment by France's finance committee aims to enforce taxation upon French nationals residing in lower-tax jurisdictions, a move reminiscent of guidelines previously discussed in other Western nations.