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"I should point out that there are classes of businesses that do exist somewhat as an exception, certain charities and non-profits" Not even sure about those.
by neilwilson 6y ago
"I should point out that there are classes of businesses that do exist somewhat as an exception, certain charities and non-profits"
Not even sure about those. Quite a lot of charities and non-profits set up to fix a problem end up perpetuating it because it is a nice comfortable job.
- Cthulhu_ 6y agoI'm pretty confident there's a lot of charities / nonprofits set up as a money laundering and tax dodging scheme. I mean one of the richest families in NL have their money in a bank that is part of a charity.
- briffle 6y agoIkea is officially a non-profit, and pays a tax rate of 3.5% because of it https://www.fastcompany.com/3035734/ikea-is-a-nonprofit-and-yes-thats-every-bit-as-fishy-as-it-sounds https://www.fastcompany.com/3035734/ikea-is-a-nonprofit-and-...
- kyuudou 6y agoTechnically, Ikea is a Swedish multinational conglomerate whose retail locations are partly associated with a Dutch non-profit "Stichting_INGKA_Foundation" founded by Ikea's founder. Essentially, Ikea is profitable because it utilizes a tax-avoidance strategy involving the use of a non-profit and so your comment is in my opinion basically true and they are "cheating" a bit. A pretty slick cheat, though. Also, thank you for shining a light on this as I was ignorant of the whole thing.
- Darmody 6y agoIt goes beyond that. People create them as their own private tax heaven.