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Posted by on May 17, 2012 in Companies |

Eduardo Saverin could be banned from U.S. after renouncing nationality

The co-founder of Facebook, Eduardo Saverin, generated much controversy in the United States to renounce their nationality , allegedly to avoid paying taxes on the millions who will take the pocket when the social network between the stock market trading tomorrow. Is that enough money is: at least $ 67 million.

The decision Saverin, who is now Brazil was not lost and today senators Charles Schumer and Bob Casey presented a plan to force people who renounce their citizenship to pay taxes the same, unless demonstrating that not resigned to avoid charges. The idea is also prohibited from entering the country to those who renounce citizenship for this reason.

The project “Prevention by Abolishing Expatriation Tax-Related Incentives for Offshore Tenancy” – or “Ex-Patriot Act”, plans to force those who renounce citizenship to pay in any case the 30% tax on capital gains, even if not reside in the United States.

Saverin lives since 2009 in Singapore, where taxes are not paid capital gains. Submitted its application for renunciation of citizenship in September 2011 and responded through a statement that does pay taxes.

The co-founder told Reuters that his decision to renounce citizenship was based “solely on my interest in working and living in Singapore, where I have been since 2009.” Saverin added: “I paid and I will be paying any taxes at all what I have gained while a U.S. citizen. It is unfortunate that this personal decision has led to public debate based not on facts but on speculation and misinformation. “

It is unclear if more cases as millionaires like Saverin who may be affected if the project proposed by the senators were to be approved. The IPO Facebook is one of the most millionaires in the last time, so that more people seem to be paying attention to the situation.

Link: Still smiling, Eduardo? Senators Schumer, Casey want to collect your $ 67M in taxes anyway Facebook (TechCrunch)

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