Tuesday 15 May 2012

Thoughts on Eduardo Saverin quitting the States

So a Facebook Co-founder gave up his citizenship just to avoid taxes, and he already got his Singapore Permanent Residency.

I was wondering why many Singaporeans want to move to the States permanently. It's a great country to live for a few years, but possibly not a good country to settle permanently. The United States of America is possibly the only country that taxes its citizen no matter where they reside.

If you seek a pleasant country to live with a more flexible tax system, where you can get a citizenship of a country and earn money from another with the least tax burden, look around you - perhaps Australia, Britain or Canada would be better than the United States for that purpose. They do not charge tax from their citizens if they earn their keeps outside their countries, and they provide services for the disadvantaged citizens equal to, or better than, America's current level of provision of such services.

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