2 ms·
Incorrect. Loopholes are the side effect crappily written laws. And in many cases, loopholes are unearthed by an army of high-paid law firms. Unintentionally c
by debt 9y ago
Incorrect.
Loopholes are the side effect crappily written laws. And in many cases, loopholes are unearthed by an army of high-paid law firms. Unintentionally created, but very intentionally exploited.
As these loopholes are closed(again, because they're unintentional), these mega corporations are moving around their money from tax haven to tax haven; they're actively exploiting these loopholes in various countries.
It is depriving these countries of very real income. Ya know to pay for the roads, emergency systems, mental health clinics, etc. of ordinary people.
So, sure, it's legal in the same way the many multitudes of immoral things of history were legal.
- flor1s 9y agoCompanies pay low tax in one country for money they earned in another country. Almost every multinational does that, there are buildings in The Netherlands in which a dozen of international firms have a postbox just so they can redirect their revenue and pay the lowest tax on it. Being Dutch, I am ashamed that our government does not do anything to change the laws which allow for this to happen.
- debt 9y agoPoor countries use tax havens as well. Those countries are the most hurt by the use of tax havens. Many people in poor countries depend on tax dollars to survive. https://www.theguardian.com/commentisfree/2013/may/14/tax-havens-entrenching-poverty-developing-countries https://www.theguardian.com/commentisfree/2013/may/14/tax-ha... It's a disgusting practice, that many on this forum seem to have no problem defending. Astounding.