1,335 Americans give up passports in first quarter of 2015

The US Internal Revenue Service has announced an increase over the number of Americans living abroad who decided to renounce their citizenship.

A total of 1,335 Americans renounced their citizenship in the first quarter of 2015, which is 18 percent higher than the previous record, Bloomberg reported on Thursday.

The figure comes after 3,415 Americans gave up their passports in 2014.

Americans living outside the US renounce their citizenship due to the country’s tax laws.

The US is the only country within the Organization for Economic Cooperation and Development that taxes citizens wherever they reside.

About six million American citizens are living abroad.

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