British royal baby must report incomes to US Treasury
The United States expects Prince Henry and Meghan's baby to declare to the treasury the gifts and other revenues in the country
The interest of the fiscal authorities on Archibald Harrison Mountbatten-Windsor, derives from the fact that the baby has dual nationality: British for his father Prince Henry and American for his mother Meghan, Duchess of Sussex.
The particularity of the matter is that the American nationality of the baby is subject to particularly restrictive conditions, like any other American citizen who is born, grows and dies anywhere in the world. Archie will have to give proof of transparency to the tax authorities every year.
That is, from birth, parents must declare the bank accounts they settle to guarantee the future of the baby. Also, the income that the first-born of the couple could generate maybe following in the footsteps of his mother in the way of acting.
The US Treasury can obtain much information about the wealth of the real couple through these statements. The US rental management also requires that valuable gifts offered to the baby be declared by non-US citizens.
On the other hand, the baby shower gifts that Meghan Markle received in New York will not have to be reported if they were made by other Americans.
L.Sáenz
Source: Bancaynegocios
