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Someone always feels the need to point that out. That isn't the point here though. A lot of these offshore jurisdictions are used for dirty money from Russia, C
by gozo 11y ago
Someone always feels the need to point that out. That isn't the point here though. A lot of these offshore jurisdictions are used for dirty money from Russia, China and the Middle East. The reason the US has become a lot harder on offshore jurisdictions isn't primarily because of tax reasons, as illustrated by continued existence of the loophole used by large tech companies, but to give more power to the NSA to prevent terrorism financing and conduct other forms of intelligence, like industrial espionage. That's also why they spied on SWIFT transactions and why they don't care that the US itself is secretive.
- JoshTriplett 11y ago> The reason the US has become a lot harder on offshore jurisdictions isn't primarily because of tax reasons, as illustrated by continued existence of the loophole used by large tech companies, but to give more power to the NSA to prevent terrorism financing and conduct other forms of intelligence, like industrial espionage. That's the stated reason behind "know your customer" laws and international pressures to enact the same. However, once you have the information, nothing requires that it only serve that purpose...