3 ms·
> For tax purposes such transactions are treated by reference to the profit that would have arisen if the transactions had been carried out under comparable con
by londons_explore 3y ago
> For tax purposes such transactions are treated by reference to the profit that would have arisen if the transactions had been carried out under comparable conditions by independent parties.
[UK tax authority]
And thats where the fact engine ECU's are useless to anyone else comes into it - their market value can be near nil.
- gamblor956 3y agoThere are almost a dozen different ways to determine profit, and the method that results in near nil value will not be accepted. Seriously, tech guys think they've found magical hacks in the law and don't realize that there are literally thousands of lawyers, accountants, and investors that found the loophole first, exploited it, and then moved on to the next loophole when the legislators closed the one they were using. The "exploit" you described was possible in the 00s. And it was closed over a decade ago.