Facebook’s Saverin Left U.S. as a Taxpayer, Not a Traitor - Bloomberg

Facebook’s Saverin Left U.S. as a Taxpayer, Not a Traitor - Bloomberg: "His decision to give up his American citizenship before the Facebook initial public offering drew criticism for his perceived breach of financial and patriotic duties, including the duty to pay income taxes.
He is even the target of legislation called the Ex-Patriot Act, proposed by Democratic Senators Charles Schumer and Bob Casey, that would ban wealthy expatriates such as Saverin from ever re-entering the U.S. This is seen as a more stringent version of current law, known as the Reed Amendment, which permits the denial of re-entry to tax-motivated expatriates, but does not require it. The Ex-Patriot Act would also tax an ex- citizen’s capital gains at 30 percent for 10 years."

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