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| Thread ID: 124758 | 2012-05-17 21:20:00 | US Senators to Unveil the Ex-Patriot Act | SurferJoe46 (51) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1275929 | 2012-05-17 21:20:00 | If you make a kajillion dollars (USD) and then decide to avoid paying taxes on it by renouncing your citizenship and moving to another country - does one think this is fair? Somebody thinks it's not and they want to burn a few bridges for people who do :::: Senators to Unveil the ‘Ex-Patriot Act’ to Respond to Facebook’s Saverin’s Tax ‘Scheme’ Sen . Chuck Schumer, D-N . Y . , has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U . S . citizenship or never come to back to the U . S . again . In September 2011, Saverin relinquished his U . S . citizenship before the company announced its planned initial public offering of stock, which will debut this week . The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public . Saverin would reap the benefit of tax savings by becoming a permanent resident of Singapore, which levies no capital gains taxes . At a news conference this morning, Sens . Schumer and Bob Casey, D-Pa . , will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes . ” LINK::: . go . com/blogs/politics/2012/05/senators-to-unveil-the-ex-patriot-act-to-respond-to-facebooks-saverins-tax-scheme/" target="_blank">abcnews . go . com |
SurferJoe46 (51) | ||
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