How do the Rich/Wealthy and the Corporations hide their money in the offshore banks t

[tradeunionsupporter]

How do the Rich/Wealthy and the Corporations hide their money in the offshore banks to avoid paying taxes ?

[Bud Struggle]

It's pretty easy. If they money is made off shore it is depositied in an offshore account. It can be accessed when the person goes offshore. The US treasury has a difficult time finding out about foreign banking because they are not subject to Federal disclosure rules.

[The Man]

I love these thread titles.. Makes me giggle every time..

[Primavera]

Search for the "double irish arrangement" on wikipedia.

Similar methods include MNCs negotiating tax-holidays ("hey, we'll give you lots of jobs just don't tax us for 10 years!") in 3rd world host countries for their subsidiaries, then having the subsidiary "sell" the products back to the parent company to make an internal transaction appear as an external input cost in the production of some good. So you have subsidiary B of parent company A "sell" its product to the parent company at way more than the cost of production so that the parent company's total profits appear far less than they really are. And because the subsidiary is in a country with a tax-holiday the net tax is many times close to zero.

Well hope you enjoyed that, now I'm gonna go drink myself into oblivion.