Phantom Tax

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When taxing what exists is not enough for the greedy thieves, let’s tax what doesn’t even exist, too!

Examples

Canada

  • “Departure Tax”: “When you leave Canada, you are considered to have sold certain types of property (even if you have not sold them) at their fair market value (FMV) and to have immediately reacquired them for the same amount. This is called a deemed disposition and you may have to report a capital gain (also known as departure tax).” [1]

Europe

See also