You might think dodging tax is really difficult, but it is really easy, you setup a company in a Tax Haven and give it all your assets. Now you pay no tax. This option shouldn't exist and before the 1960's it didn't. - ThreadSky

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bladeofthes.bsky.social • 1 day ago

You might think dodging tax is really difficult, but it is really easy, you setup a company in a Tax Haven and give it all your assets.

Now you pay no tax.

This option shouldn't exist and before the 1960's it didn't.

Comments

lukemcelligott.bsky.social•1 day ago

I also think we need to stop focussing on individual rich people here, the biggest users of this loophole are the big companies. Much more tax revenue to be made by looking at the ftse500, it concerns me that this might get missed in the rush to tax the "rich". Stop offshoring across the board.

gobearcats.bsky.social•1 day ago

Individuals making more than $400,000 a year need to pay a minimum 45% federal flat tax in order to get this country back on track.

igtbok.bsky.social•1 day ago

Please UK and US governments #TaxtheRich

darielgarner.bsky.social•1 day ago

Nany tech companies use a simpler method. They keep their assets where needed but license intangible assets (creative work, code, trademarks, etc.) from a company in a tax free country. Then they simply pay all their profit out as licensing fees.
No profit, no tax.

synrasa.bsky.social•1 day ago

It costs only 2-3k as well.

messy-by-name.bsky.social•1 day ago

If everyone started doing that I'm sure the government would, incredibly quickly, stop such practices being legal!

darielgarner.bsky.social•1 day ago

It is the government that allowed this practice originally.

smartmove.bsky.social•1 day ago

Set up by Republicans

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