Around 166 billion USD dollars around the world aren't paid in taxes due to the fact that those are declared in offshore jurisdictions (30 - 80 countries may fit this criteria).
Do you use them yes/no,
worth it/not worth it
how you do it
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Here's one way.. introductory explanation, the point is to keep getting more and more creative and elaborate!
https://uspirg.org/sites/pirg/files/cpn/USN-011218-B2-REPORT/Offshore-Shell-Games_3.html
https://ctj.sfo2.digitaloceanspaces.com/pdf/offshoreshellgames2016.pdf
https://www.amazon.com/Global-Shell-Games-Transnational-International/dp/1107638836/ (technical paper/book by Cambridge on the subject - really interesting)
https://www.occrp.org/en/ (great reporting here.. it's like every article they write or topic they report on can/will end up as a movie plot lol)
Before anyone starts in on the "they should pay their fair share" circus act, remember folks: avoidance =/= evasion.
I don't use any offshoring tactics (with the obligatory "yet" because I have the obvious goal of having that amount of assets), but if I did I'd definitely find me a LLM or other ex-big4 transfer pricing accountant/attorney to set it all up properly.
It'd be pretty based if nobody paid any income taxes imo.
What’s based
Nice try FBI I pay ALL my taxes
Offshore is no more. The numbered Swiss bank account is a Hollywood movie fable.
https://amp.theguardian.com/business/2008/jun/29/ubs.banking
Considering every other thread complains about a $1 increase in gas prices, I highly doubt anyone here utilizes offshore banking to avoid taxes brah.
lmao
I think most ppl on here do that to fit in so no one suspects them...
Yes, I have an offshore bank account. Yes, I report it to the US government. No, it doesn’t actually reduce my taxes.
These tax reducing schemes are primarily available for companies rather than individuals, so for those of us who don’t actually earn income through a separate legal entity, we are stuck paying a full set of taxes.
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