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What’s FATCA Got To Do With It? Tina Turner Renounces U.S. Citizenship

TinaThe Daily Mail:  Let's Stay Together? Tina Turner Renounces Her U.S. Citizenship to Become Swiss (So How Much Tax Will She Now Pay?):

Tina Turner is renouncing her American citizenship to become Swiss, it was revealed today.
The American rock diva has lived in the Zurich suburb of Kuesnacht since the mid-1990s and speaks fluent German.
The local Zuerichsee-Zeitung newspaper said on its website the local council announced its decision to grant the 73-year-old Turner citizenship in an official notice published in Friday's edition. The decision still requires formal approval from state and federal authorities. …

Earlier this month, actor Gerard Depardieu announced he was renouncing his French citizenship because of the country's high taxes, and was promptly offered Russian citizenship by President Vladimir Putin. Tina's move has sparked rumors she is following in the footsteps of Depardieu and Facebook's Eduardo Saverin, who now calls Singapore, with its 18% tax rate, home.
Wealthy socialite Denise Rich … renounced her U.S. last year. She was married to billionaire commodities trader Marc Rich, controversially pardoned by Bill Clinton his last day in office. …

But Forbes says of the singer's move: 'There’s little to suggest taxes motivate the decision, and Swiss rates are high.' … Her agent did not return MailOnline's request for comment about whether the move was for tax reasons.


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