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> Don't use loopholes But what counts as a loophole? There's a law that says you can deduct your interest income, so is doing that "using a loophole?" If that
by baddox 8y ago
> Don't use loopholes
But what counts as a loophole? There's a law that says you can deduct your interest income, so is doing that "using a loophole?" If that doesn't count as a loophole, then why does the double Irish arrangement count as a loophole? They are both just taking advantage of a law.
The obvious response to this dilemma is to bring up what lawmakers intended. That makes sense. But why not just have the lawmakers themselves clarify their intentions by closing things they consider to be loopholes? It seems unreasonable to expect each company to guess the intentions of each tax law.
- sir_brickalot 8y agoI'm not a native speaker so could someone please explain to me if I misunderstand the word 'loophole'? Translation says "a gap in the law". That should make it fairly easy to know if I use one or not . Than again: I'm REALLY bad with taxes.
- baddox 8y agoIt’s definitely not that simple, because any large company has to navigate the extremely complex US tax law. It’s not like there is a simple law that says they owe x%, then a bunch of “gaps” to exploit. The baseline is already extremely complex.