News on Sunday| S’pore PR skipped US tax but lost $2m of Apple shares to ex-wife

[snapp]

• A man lost $2 million in Apple shares in a divorce after he gave the shares to his then wife so he could avoid paying US taxes for them.
• The American's expensive ploy is an example of how sham transactions aimed at avoiding taxes can often end up causing more losses.
• With the Singapore High Court's ruling on this case, spouses here who hold properties separately to avoid paying ABSD may get shortchanged in the event of divorce.

Paywall: https://www.straitstimes.com/busine...e-pr-losing-2m-of-apple-shares-to-his-ex-wife

 

[glarerder]

Why hold the judgement in Singapore courts? His wife Singaporean?

 

[mynickname]

Why hold the judgement in Singapore courts? His wife Singaporean?

Divorce

 

[matrix05]

Divorce always painful.

 

[archie7]

pros and cons of evading taxes
vs
pros and cons of divorcing

 

[coyote]

• A man lost $2 million in Apple shares in a divorce after he gave the shares to his then wife so he could avoid paying US taxes for them.
• The American's expensive ploy is an example of how sham transactions aimed at avoiding taxes can often end up causing more losses.
• With the Singapore High Court's ruling on this case, spouses here who hold properties separately to avoid paying ABSD may get shortchanged in the event of divorce.

Paywall: https://www.straitstimes.com/busine...e-pr-losing-2m-of-apple-shares-to-his-ex-wife

I do have such American friends.

 

[Ethan_]

Divorce

They file the divorce here? If so, why here when they are not local citizen, what so special about local?

 

[Hyruga]

How come he needs to pay tax for apple shares but his wife don't need?

 

[uselessbum]

Why hold the judgement in Singapore courts? His wife Singaporean?

One possibility is that he didn't want to divorce in the US cause he scared his tax evasion secret would be found out and he could be charged for it over there.

 

[uselessbum]

How come he needs to pay tax for apple shares but his wife don't need?

Probably because the wife is not US citizen. The US is unique in that their overseas citizens still have to pay US taxes on income.

 

[buttbERry]

some times stay as bbfa is better

 

[mynickname]

They file the divorce here? If so, why here when they are not local citizen, what so special about local?

Pr

 

[psyger-zero]

• A man lost $2 million in Apple shares in a divorce after he gave the shares to his then wife so he could avoid paying US taxes for them.
• The American's expensive ploy is an example of how sham transactions aimed at avoiding taxes can often end up causing more losses.
• With the Singapore High Court's ruling on this case, spouses here who hold properties separately to avoid paying ABSD may get shortchanged in the event of divorce.

Paywall: https://www.straitstimes.com/busine...e-pr-losing-2m-of-apple-shares-to-his-ex-wife

isnt the consensus anything owned after marriage is matrimonial pool?means everything must share?whether its gifted to another or not?