Re:The Hidden Wealth of Nations: Tax Havens
by amirmc on Friday October 02, 2015 @02:55AM
(#10317088)
In that case, why would anyone remove money from a corporate entity? All those who could afford it would just act through corporate avatars. I think this already happens to some degree.
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Re:The Hidden Wealth of Nations: Tax Havens
by charlesdm on Friday October 02, 2015 @08:03AM
(#10317927)
A person might still enjoy certain (taxable) benefits. I can buy a castle through a company. This is possible and not a problem.
However, if I want to go live in said castle, I usually have to pay some tax on the benefit received. Or pay market rate rent to the company. If I just want to hold the castle as an investment, then obviously I wouldn't have to pay personal tax on that.
Re:The Hidden Wealth of Nations: Tax Havens
by jeffdavis on Saturday October 03, 2015 @12:35PM
(#10324413)
What you are suggesting is that the company could provide compensation while declaring it as a cost of doing business.
If they do that (legally or not), it wouldn't count as profit for the business anyway, so a tax on profit doesn't help the situation.