U.S. Citizens in Canada InfoShop

2012 May 17 – Tsukayama

 
Hayley Tsukayama
Facebook co-founder Saverin targeted by U.S. senators for tax ‘avoidance scheme’
Washington Post (17 May 2012)

http://www.washingtonpost.com/business/technology/facebook-co-founder-saverin-under-fire-for-renouncing-us-citizenship/2012/05/17/gIQAPFCyVU_story.html

In response to the recent Savarin renunciation of US citizenship, Senators Schumer and Casey say they will propose an Ex-PATRIOT Act to reimpose avoided taxation and to bar reentry to the United States. “Under the proposal, ‘any expatriate with either a net worth of $2 million or an average income tax liability of at least $148,000 over the last five years will be presumed to have renounced their citizenship for tax avoidance purposes,’ according to a release from Schumer’s office.”
 

Written by usxcanada

17 May 2012 at 6:00 am

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