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Tax……Again

If you summoned up the worlds most powerful microscope you still would not be able to locate my level if interest in US tax policy – I have enough trouble getting excited about tax domestically. However, I was reading some stuff post the Facebook IPO which proved to be a bit of a squib when I came across this piece.

The only thing that interested me was this paragraph.

Saverin is expected to make at least $3.84 billion when Facebook goes public tomorrow and would have picked up a tax bill of $67 million on it. He has lived in Singapore since 2009, where there is no capital gains tax. In September 2011 he renounced his U.S. citizenship.

WTF?

I have been involved in a few local IPOs and my tax rate was never 1.7%

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