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Singapore doesn’t have a capital gains tax. At 15% long-term capital gains tax rate on $3.84B (4% of Facebook), He saved $576 Million by giving up his citizen
by romeodelight 14y ago
Singapore doesn’t have a capital gains tax.
At 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.
- rudiger 14y agoNot exactly. He's paying some tax now, while Facebook is still private. It's just that once it's public, the value of his stake will be much more transparent and so he'll have to pay more taxes.
- romeodelight 14y agoOnly realized capital gains are taxed. The capital gain is not realized until the stock is sold. So the answer is no, he's not paying "some" taxes now on his fb shares. He may have sold some stock to private investors but I don't think that's what you meant.
- waterlesscloud 14y agoHe's actually paying as if he sold it all at the time his citizenship was revoked. It's the "exit tax" all the stories on this mention.
- romeodelight 14y agoThanks for the clarification.