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As much as the morality of tax avoidance has to be discussed, this article is confusing at best. The 2nd paragraph says (emphasis mine): > Meanwhile, an estima
by thisisit 9y ago
As much as the morality of tax avoidance has to be discussed, this article is confusing at best. The 2nd paragraph says (emphasis mine):
> Meanwhile, an estimated $8.7 trillion, 11.5 percent of the entire world’s G.D.P., is held offshore by ultrawealthy households in a handful of tax shelters, and most of it isn’t being reported to the relevant tax authorities. This is… not so legal.
Then later after the Google example:
> In doing this, Google didn’t break the law.
- discoursism 9y agoPresumably the "this is not so legal" refers to the "most of it isn't being reported to the relevant tax authorities," not the "is held offshore."
- IncRnd 9y agoThe law isn't that offshore corporations are illegal but that offshore corporations controlled by US citizens are required to be reported to the IRS.