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> Is this kind of thing [tax evasion] common in the art world? Oh yes, it seems so common that it's more or less openly advertised: https://www.wealthmanageme
by microtherion 6y ago
> Is this kind of thing [tax evasion] common in the art world?
Oh yes, it seems so common that it's more or less openly advertised:
https://www.wealthmanagement.com/art-auctions-antiques-report/freeports-art-world https://www.wealthmanagement.com/art-auctions-antiques-repor...
And art collectors are not infrequently involved in shady schemes:
https://en.wikipedia.org/wiki/Urs_Schwarzenbach#VAT_fraud_and_art_trafficking_with_Galerie_Gmurzynska https://en.wikipedia.org/wiki/Urs_Schwarzenbach#VAT_fraud_an...
- redisman 6y agoThe super rich play a completely different game than the rest of us.
- karaterobot 6y agoI wonder if this is actually tax evasion. I think the idea behind this was to avoid a taxable event from taking place, not to lie in order to avoid paying taxes they legally had to. It's analogous to me driving out of my way to avoid going over a toll bridge, vs. (for example) covering up my license plate to avoid being caught by the toll cameras.