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You could establish a corporation in a UAE freezone with visa and not even need to keep books. Of course assuming your laws allow it.
by thelittleone 3y ago
You could establish a corporation in a UAE freezone with visa and not even need to keep books. Of course assuming your laws allow it.
- jsty 3y ago> Of course assuming your laws allow it. The spherical cow of the accounting world
- lazide 3y agoAlso a bit of a Heisenbergs cat! A lot of things are ‘legal’ as long as you don’t get audited.
- dabluecaboose 3y agoDid you mean "Schrödinger's cat"?
- lazide 3y agoDoh, thank you!
- technothrasher 3y agoUS law doesn’t allow it, or at least it doesn’t allow you not to declare and pay US tax on any income you make no matter where you make it.
- RajT88 3y agoYes, the US government generally frowns on tax dodges. Famously, that's how they have put away hardened criminals like Al Capone. But of course, the dynamics of our current system are such that the people least likely to be able to defend themselves legally are the ones which are frequently targeted for tax dodges. How many years do the extremely wealthy have to dodge taxes before the IRS finally comes down on them? Meanwhile, a friend of mine got dinged for a $500 deduction for unreimbursed work travel and not having receipts (a $2000 fine which she had to borrow money to pay).