Re:Taxing the Rich Is Failing to Ease the Global Housing Crunch
by csomar on Monday August 16, 2021 @08:32AM
(#28197280)
You just answered the question. This is not about the "very" rich as in Jeff Bezos or Mark Zuckerberg. This is about the $10-100m guys who made their money in shady ways or didn't pay their taxes. Real estate is great as there are little tracks in how the money is moving.
You could buy a house in a neighboring country for money that you paid tax on (say $500k) and then do renovation work that cost $500k but that money could be moved mostly in cash and is the shady part. It's also very hard for your original country to "know about it (the renovation)" and the host country most likely doesn't care.
You could buy a house in a neighboring country for money that you paid tax on (say $500k) and then do renovation work that cost $500k but that money could be moved mostly in cash and is the shady part. It's also very hard for your original country to "know about it (the renovation)" and the host country most likely doesn't care.