November 6th, 2020 at 10:05 PM
All rich people know how to do it, and that is said and reported very publicly! HOW DOES TAX FRAUD WORK?
HOW DOES TAX FRAUD WORK?
A tax avoidance classic is the principle of small calculations and shifting profits to low-tax countries and tax swamps. How do you move a profit made in Austria to the financial center of Cyprus with a tax rate of only 12.5 percent? A subsidiary is set up based in a low-tax country. This offsets the parent company, which actually creates added value, for overpriced services. For example fees for licenses, trademark or name rights, technical know-how or the delivery of raw materials. This diminishes the parent company's profits and moves to the subsidiary in the low-tax country. The taxable amount is massively reduced. The states are missing out on billions.
All rich people know how to do it, and that is said and reported very publicly! HOW DOES TAX FRAUD WORK?
HOW DOES TAX FRAUD WORK?
A tax avoidance classic is the principle of small calculations and shifting profits to low-tax countries and tax swamps. How do you move a profit made in Austria to the financial center of Cyprus with a tax rate of only 12.5 percent? A subsidiary is set up based in a low-tax country. This offsets the parent company, which actually creates added value, for overpriced services. For example fees for licenses, trademark or name rights, technical know-how or the delivery of raw materials. This diminishes the parent company's profits and moves to the subsidiary in the low-tax country. The taxable amount is massively reduced. The states are missing out on billions.
APPLE
With the help of the two companies Apple Sales International (ASI) and Apple Operations Europe, Apple reduced its tax burden to a ridiculous rate of 0.005 percent in 2014 and thus cheated gigantic profits by the tax authorities. As ASI has no registered office anywhere in the world, it is not recorded for tax purposes. The EU Commission accuses Apple of violating EU law with agreements. Now Apple threatens a penalty of 13 billion euros to Ireland.
DISNEY
In the final quarter of 2015 alone, Disney posted record profits of $ 2.9 billion. But as in the Disney fairy tale, the impossible becomes possible: Disney pays tax rates of sometimes less than one percent. Because Disney relocated its profits to Luxembourg, where the company founded an internal bank that taxed its profits at less than one percent. The offices of a total of five Disney offshoots are located on the ground floor of a Luxembourg house where a Belgian works as five-time director of the company. A single person administers societies through which billions flow.
MC DONALDS
McSteuerflucht: Every employee pays more taxes than McDonald’s itself. French authorities are investigating the fast-food mega-corporation on suspicion of tax fraud. McDonald’s reportedly moved profits in France to Luxembourg. It's about 75 million euros a year. The EU Commission also initiated proceedings against McDonald’s because the group has "paid practically no corporation tax on its profits" in both Luxembourg and the USA.
GOOGLE
According to the Financial Times, the US Internet company Google moved license revenues of EUR 8.8 billion in 2012 via Ireland and the Netherlands to the Bermuda tax swamp. The average tax rate abroad has fallen to around 5 percent. In France, police are investigating suspected tax fraud and in 2016 raided Google's Paris office. It is about possible tax back payments in the amount of 1.6 billion euros. In Italy it is about a tax back payment of 200 million euros, which Google Italia transferred to the parent company as “fees”. There are also taxes on undisclosed profits amounting to 100 million euros. In total, Google owes Italy 227.5 million euros.
AMAZON
In 2012, Amazon paid only 3 million euros in corporation tax in Germany for total sales of 6.8 billion euros. In the same year Amazon Germany directed 118 million of the profits made here to Luxembourg - so these profits were tax-free. Germany lost 35.4 million euros as a result. Since May 1, 2015 Amazon has been paying taxes on the profits made in Germany, but the income is modest. Because Amazon artificially reduces its profits using subsidiaries that charge high fees for the use of patents and trademarks and thus reduce profits.
If Biden thinks he can get $ 1 more there, the earth is flat
HOW DOES TAX FRAUD WORK?
A tax avoidance classic is the principle of small calculations and shifting profits to low-tax countries and tax swamps. How do you move a profit made in Austria to the financial center of Cyprus with a tax rate of only 12.5 percent? A subsidiary is set up based in a low-tax country. This offsets the parent company, which actually creates added value, for overpriced services. For example fees for licenses, trademark or name rights, technical know-how or the delivery of raw materials. This diminishes the parent company's profits and moves to the subsidiary in the low-tax country. The taxable amount is massively reduced. The states are missing out on billions.
All rich people know how to do it, and that is said and reported very publicly! HOW DOES TAX FRAUD WORK?
HOW DOES TAX FRAUD WORK?
A tax avoidance classic is the principle of small calculations and shifting profits to low-tax countries and tax swamps. How do you move a profit made in Austria to the financial center of Cyprus with a tax rate of only 12.5 percent? A subsidiary is set up based in a low-tax country. This offsets the parent company, which actually creates added value, for overpriced services. For example fees for licenses, trademark or name rights, technical know-how or the delivery of raw materials. This diminishes the parent company's profits and moves to the subsidiary in the low-tax country. The taxable amount is massively reduced. The states are missing out on billions.
APPLE
With the help of the two companies Apple Sales International (ASI) and Apple Operations Europe, Apple reduced its tax burden to a ridiculous rate of 0.005 percent in 2014 and thus cheated gigantic profits by the tax authorities. As ASI has no registered office anywhere in the world, it is not recorded for tax purposes. The EU Commission accuses Apple of violating EU law with agreements. Now Apple threatens a penalty of 13 billion euros to Ireland.
DISNEY
In the final quarter of 2015 alone, Disney posted record profits of $ 2.9 billion. But as in the Disney fairy tale, the impossible becomes possible: Disney pays tax rates of sometimes less than one percent. Because Disney relocated its profits to Luxembourg, where the company founded an internal bank that taxed its profits at less than one percent. The offices of a total of five Disney offshoots are located on the ground floor of a Luxembourg house where a Belgian works as five-time director of the company. A single person administers societies through which billions flow.
MC DONALDS
McSteuerflucht: Every employee pays more taxes than McDonald’s itself. French authorities are investigating the fast-food mega-corporation on suspicion of tax fraud. McDonald’s reportedly moved profits in France to Luxembourg. It's about 75 million euros a year. The EU Commission also initiated proceedings against McDonald’s because the group has "paid practically no corporation tax on its profits" in both Luxembourg and the USA.
According to the Financial Times, the US Internet company Google moved license revenues of EUR 8.8 billion in 2012 via Ireland and the Netherlands to the Bermuda tax swamp. The average tax rate abroad has fallen to around 5 percent. In France, police are investigating suspected tax fraud and in 2016 raided Google's Paris office. It is about possible tax back payments in the amount of 1.6 billion euros. In Italy it is about a tax back payment of 200 million euros, which Google Italia transferred to the parent company as “fees”. There are also taxes on undisclosed profits amounting to 100 million euros. In total, Google owes Italy 227.5 million euros.
AMAZON
In 2012, Amazon paid only 3 million euros in corporation tax in Germany for total sales of 6.8 billion euros. In the same year Amazon Germany directed 118 million of the profits made here to Luxembourg - so these profits were tax-free. Germany lost 35.4 million euros as a result. Since May 1, 2015 Amazon has been paying taxes on the profits made in Germany, but the income is modest. Because Amazon artificially reduces its profits using subsidiaries that charge high fees for the use of patents and trademarks and thus reduce profits.
If Biden thinks he can get $ 1 more there, the earth is flat
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