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%
