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It's money laundering of a different sort; the meaningful business activities are not taking place in Mauritius, it is just a post office box and some legal for
by davidwitt415 7y ago
It's money laundering of a different sort; the meaningful business activities are not taking place in Mauritius, it is just a post office box and some legal forms, so it is a tax dodge to claim the business is conducted in Mauritius (or any of the so-called tax havens). Taxes should be paid where a business does its real business activities.
Tax avoidance is a huge business, and legions of lawyers and accountants have been employed for generations to find or create these loopholes. While they may be considered legal in narrow terms, they most often skirt the intent of the law.
As the legality of these arrangements is often questionable, it is also right to look at them morally. After all, laws are supposed to be equitable, and a system may be 'legal' while also being wrong, either morally or equitably.
Therefore, while Bob Geldolf's investments by be technically legal, it is still in the public's interest to know about these secretive arrangements, especially since 'Sir' Bob made his public acclaim over his supposed charitable interest in Africa, which is now revealed to be financial above all else.
It's not gossip if it is in the public's material interest.