Senators Expects To Announce A Plan To Re-Impose The Taxes On Saverin

Posted on May 17 2012 - 1:18pm by Editorial Staff

TechCrunch is reporting that Facebook’s co-founder Eduardo Saverin might has given up his U.S. citizenship, but U.S. government does not want him to get away without paying $67 million. Senators Charles Schumer and Bob Casey are expected to announce a plan they have to re-impose the taxes on Saverin, who give up citizenship in order to avoid taxes. Furthermore, the publication also reports that the senators are going to announce that those who in the future avoid paying their taxes by renouncing citizenship will not be allowed to re-enter in the country again.

Story started last week that Facebook co-founder Eduardo Saverin had renounced his U.S. citizenship as per an internal revenue service reports. But the real reasons for Saverin’s move may have to do with more than taxes, according to publications Time and the Wall Street Journal, Saverin renounced his citizenship way back in September of last year, and now lives in Singapore, which doesn’t levy a capital gains tax. Over which Saverin said that he is not a tax expert.

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