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Singapore is a western (like) country and has no capital gains tax. Though as some other commenters have noted, i don’t know if the IRS would consider it legal
by origami777 9y ago
Singapore is a western (like) country and has no capital gains tax. Though as some other commenters have noted, i don’t know if the IRS would consider it legal for a US citizen to bail and not pay the tax.
Edited
- dogma1138 9y agoSingapore is a tiny bubble that if you are rich you can live a luxurious life style without fearing (too much) for your safety but I would not call it western by any means.
- origami777 9y agoHmmmm. Your statement makes me think you don’t know much about Singapore. It is a tiny city, but it has a massive role in Southeast Asia. I have lived there before and lived a great life without being rich by US or Singapore standards. The national language is English. They are by all means a capitalist country. It is a modern high tech society. Very western if you ask me. The only way they aren’t that I can think of is that they are not a democracy.
- sjg007 9y agoYou can't renounce citizenship for purely tax reasons, I believe.
- origami777 9y agoThe closet incident I could remember was when a Facebook co founder did this. Looks like he still had to pay a tax https://en.m.wikipedia.org/wiki/Eduardo_Saverin https://en.m.wikipedia.org/wiki/Eduardo_Saverin