Washington: Facebook co-founder Eduardo Saverin, under fire over the tax consequences of renouncing his US citizenship, said on Thursday he is obligated to and will pay "hundreds of millions of dollars in taxes to the United States government." The social media entrepreneur and investor said in a statement, emailed to Reuters by a spokesman, that his decision to move to Singapore was "based solely on my interest in working and...
01:08 PM, May 18, 2012
Singapore: Facebook co-founder Eduardo Saverin has renounced his US citizenship, a move expected to save him hundreds of millions of dollars in taxes stemming from the company's impending initial public offering. The Brazil-born 30-year-old became a US citizen in 1998 but has lived in Singapore since 2009. Giving up his citizenship will allow him to avoid paying taxes on billions of dollars of capital gains when Facebook launches its IPO...
06:19 PM, May 15, 2012
