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That would be funny, but I think if you actually tried to do it, you would very quickly run into overheads which make it unviable for most individuals. A lot o
by xmodem 9y ago
That would be funny, but I think if you actually tried to do it, you would very quickly run into overheads which make it unviable for most individuals. A lot of tax havens outsource the cost of compliance by requiring all financials to be independently audited, for instance, and when you have a couple of layers of shell companies that's 15-20k right there.
That, and you probably still end up having to pay income tax on it when you bring it into the country.
- paulddraper 9y agoExactly. And that is why you won't see small or even mid-sized companies arranging their taxes like this: it's just too expensive. Only big companies -- Apple, Nike, Amazon, Google -- can afford to save international taxes like this. IMO, the better solution is 100% sales tax (ala the US FairTax proposal https://en.m.wikipedia.org/wiki/FairTax https://en.m.wikipedia.org/wiki/FairTax). Companies avoid paying corporate income taxes far easier than avoiding sales tax.
- brokenmachine 9y agoHow many individuals would we need in order to make it worthwhile? Asking for a friend. Maybe we could work together with people in another country - because we all want to pay "the full taxes we owe".
- paulddraper 9y ago...how many people do you file taxes with?