11 May 2012

BRASIL / USA / SINGAPORE : 18 May UPDATE: Facebook Co-Founder...And Soon Billionaire Saverin...Renounced USA Citizenship; USA May Have Saved Him From Kidnapping; Saverin Defends Renunciation.


       Naturally...new billionaire  Eduardo Saverin is defending his recent renunciation of  USA citizenship.
       In a statement...he claimed that he 'paid his dues.'
       But 2 USA senators are offended at the seeming tax ploy that off-shore banking enthusiasts like Mitt Romney might applaud...and plan to introduce new legislation punishing those who surrender citizenship just to escape taxes.
     Facebook co-founder Eduardo Saverin, 30...surrendered his USA citizenship in September...a move that slashes his huge capital gains tax bill...on the record breaking IPO.
      BLOOMBERG estimates his USA tax savings...at $67 million!
      The Brasil born Saverin holds about 4% of Facebook...valued at $3.5 billion.
       He will still end-up paying...about $365 million to the IRS.
      Saverin comes from a wealthy family in Brasil...and reportedly moved to Miami at age 13...to avoid being kidnapped there.
      He has been living in Singapore for 3 years.
      Amazingly...Singapore has no capital gains tax.
      The USA...and Brasil...will both lose out on tens of millions in taxes!