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Old 25.01.2013, 10:08
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Re: Tina Turner to become Swiss

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In order to renounce US citizenship, even though she has been living in Europe for decades, she will have to pay a hefty 'Exit Tax' to the US which I think is 15% of all her assets.

Paying 15% now may be a wise move to avoid the sure-to-increase estate taxes, and a higher capital gains tax, etc. to which she would likely be subjected. While estimating my 2012 US tax bill, renouncing my US cititzenship crosses my mind, but I'm not wealthy enough for the Swiss to take me early!
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