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Would he also have to pay taxes in Singapore? If so, I can see how this move would be acceptable. Even if not, I don't think many would find this unacceptable
by nsmartt 14y ago
Would he also have to pay taxes in Singapore? If so, I can see how this move would be acceptable.
Even if not, I don't think many would find this unacceptable if he had done this before the mention of the IPO. It's possible that he has been considering the move for a while, and hasn't bothered to go through with it until a significant chunk of his income became at risk.
- romeodelight 14y agoSingapore doesn’t have a capital gains tax. A 15% long-term capital gains tax rate on $3.84B (4% of Facebook), He saved $576 Million by giving up his citizenship and moving to Singapore.
- paulgb 14y agoI'm not a lawyer, but this seems plausible. Singapore doesn't have a comprehensive tax treaty for the USA[1], which would otherwise prevent double taxation. [1] http://www.iras.gov.sg/irasHome/page.aspx?id=812 http://www.iras.gov.sg/irasHome/page.aspx?id=812