3 ms·
My understanding is that much of the reason for parking money in these properties is to get around local (that is, their local, our foreign) tax laws and wealth
by bsanr2 6y ago
My understanding is that much of the reason for parking money in these properties is to get around local (that is, their local, our foreign) tax laws and wealth regulations. If that's the case, it's not different from money laundering. "Tax avoidance" is tantamount to money laundering.
- jdmichal 6y agoTax avoidance is not money laundering. Not even close. TFA does a good job of describing the process, of which zero pieces fit "purchasing foreign property to avoid local taxes". Reintroduction of these funds back into the local economy after performing whatever tax avoidance tricks might qualify as money laundering.
- mtnGoat 6y agoTax avoidance and tax circumvention are not the same. First lesson my tax attorney taught me. ;)
- bsanr2 6y agoI'm sure he'd very much like people to believe so.