Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by s1artibartfast on Saturday August 05, 2023 @07:22PM
(#37017215)
You can't move countries to avoid capital gains.
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Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by JJMcJ on Saturday August 05, 2023 @07:25PM
(#37017245)
What often happens is that corporation in high tax country has subsidiary in low tax country that they find a way to funnel profits too.
Not sure on details myself. It has to be done just right.
I believe Ireland and the Netherlands are often host countries.
Now this is different than money laundering, which is big time illegal, of course.
Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by s1artibartfast on Saturday August 05, 2023 @07:31PM
(#37017289)
I think you're talking about the double Irish corporate inversion loophole, which applied to multinational companies, and was closed 10 years ago.
As a US individual you get taxed no matter where in the world you live, and you must pay capital gains on all of your assets before giving up citizenship
Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by JJMcJ on Saturday August 05, 2023 @07:38PM
(#37017334)
I believe the Netherlands one, which I don't fully understand, is still in place.
Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by seneca on Saturday August 05, 2023 @07:27PM
(#37017264)
> What often happens is that corporation in high tax country has subsidiary in low tax country that they find a way to funnel profits too.
That has nothing to do with individual taxes.
Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by PartiallyTyped on Saturday August 05, 2023 @08:04PM
(#37017528)
Why not? I know in Poland I am not taxed until I sell the stock; and if I am out of the country for X amount of time, I am not considered a taxed resident.
I am fairly certain the US is different, but I know that I can do that in Europe.
Re:CEOs’ pay climbed before layoffs at tech giants like Alph...
by ultrasaurus on Saturday August 05, 2023 @09:36PM
(#37018112)
In the US, different states have different rates. At X00,000,000 he's basically all in the top bracket so ~13.3% in California (it's taxed as income), other states have lower, some states have 0%.