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Thread: Firms Play "Double Dutch" to Skip on Tax

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by spanky View Post
    Is there no corporate tax in Bermuda?
    Nope, and no income tax either!
    Quote Originally Posted by Deuce View Post
    Like roads, internet infrastructure, an electrical grid, police and fire protection...

    Oh wait. You weren't talking about Google's entitlements, were you?
    Are you saying you pay more taxes than Google?
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by RabidAlpaca View Post
    Nope, and no income tax either!


    Are you saying you pay more taxes than Google?
    How does Google get the money from Bermuda to the US to pay employees and expenses?

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by spanky View Post
    How does Google get the money from Bermuda to the US to pay employees and expenses?
    It dont.

    Google has say 1 billion in sales in the US. It then pays its wages from those sales and it makes say a profit of 100 million as an example. Now because Google is registered in Bermuda, then the US based company has to pay "administrative costs" or "franchise" costs to the parent company... which is of course about 100 million dollars. That way the move the profit gotten in the US overseas to be taxed there and it is fully legal pretty much everywhere and all international companies do it if they can. Some dont do it for political reasons, some only take a certain portion out of the country for political reasons and so on.

    Now the point is, if the company is big enough then they can do this.. even though they might not have any overseas sales at all.. but those that cant do it, are of course the small local companies who have to pay the full tax burden, where as their direct competitors who are international.. get a way with next to nothing.
    PeteEU

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by PeteEU View Post
    It dont.

    Google has say 1 billion in sales in the US. It then pays its wages from those sales and it makes say a profit of 100 million as an example. Now because Google is registered in Bermuda, then the US based company has to pay "administrative costs" or "franchise" costs to the parent company... which is of course about 100 million dollars. That way the move the profit gotten in the US overseas to be taxed there and it is fully legal pretty much everywhere and all international companies do it if they can. Some dont do it for political reasons, some only take a certain portion out of the country for political reasons and so on.

    Now the point is, if the company is big enough then they can do this.. even though they might not have any overseas sales at all.. but those that cant do it, are of course the small local companies who have to pay the full tax burden, where as their direct competitors who are international.. get a way with next to nothing.
    Precisely why the US needs to lower its tax laws and rates so that the little guys can compete with the big guys who have clever accountants. And maybe the big guys might stick around and pay us instead of them.
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by RabidAlpaca View Post
    Precisely why the US needs to lower its tax laws and rates so that the little guys can compete with the big guys who have clever accountants. And maybe the big guys might stick around and pay us instead of them.
    Hell no. The US and others need to plug those loopholes AND in the US case lower the tax rate a tad. It is the loopholes that are costing US society trillions, not too high corporate tax rates.
    PeteEU

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    Re: Firms Play "Double Dutch" to Skip on Tax

    we need to lower our corporate rate significantly and then make sure everyone pays it, not just the small guys.

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by PeteEU View Post
    It dont.

    Google has say 1 billion in sales in the US. It then pays its wages from those sales and it makes say a profit of 100 million as an example. Now because Google is registered in Bermuda, then the US based company has to pay "administrative costs" or "franchise" costs to the parent company... which is of course about 100 million dollars. That way the move the profit gotten in the US overseas to be taxed there and it is fully legal pretty much everywhere and all international companies do it if they can. Some dont do it for political reasons, some only take a certain portion out of the country for political reasons and so on.

    Now the point is, if the company is big enough then they can do this.. even though they might not have any overseas sales at all.. but those that cant do it, are of course the small local companies who have to pay the full tax burden, where as their direct competitors who are international.. get a way with next to nothing.
    But in the US it doesn't matter where the company is registered, if they derive income from inside the US it has to be declared as income on their US Corp tax return.

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    Re: Firms Play "Double Dutch" to Skip on Tax

    If those countries want the tax revenue of global companies, perhaps they should lower their corporate rates to attract those businesses.
    "Political speech and writing are largely the defense of the indefensible. . . . Thus political language has to consist largely of euphemism, question-begging and sheer cloudy vagueness."
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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by spanky View Post
    But in the US it doesn't matter where the company is registered, if they derive income from inside the US it has to be declared as income on their US Corp tax return.
    Yes Income minus administrative costs... like wages, franchise costs and so on.

    Else why can Apple pay such a low tax rate when its by far biggest market is the US and has one of the biggest profits of any company?

    Face it, big international companies fiddle with the numbers time and time again to avoid as much tax they can.

    Apple?s tax rate: 9.8 percent? - Washington Post

    And it seems the IRS either has no clue on what is going on or is ignoring it.

    And it does matter where the company is registered... there is a city in Nevada that has very low corporate tax and that is where Apple funnels most of its US sales. It is basically a P.O.Box.
    PeteEU

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    Re: Firms Play "Double Dutch" to Skip on Tax

    Quote Originally Posted by ReformCollege View Post
    I'm sorry... I didn't realize Google got all of those and you didn't?
    I didn't realize I said anything of the sort. (because I didn't and you know it)

    They are recieving the same services you are yet their workers pay way more in taxes. Maybe its you who isn't carrying his weight?
    They are (legally) dodging taxes in those countries, while benefiting from said infrastructure in those countries.

    Does a corporation not benefit from these things? Should it not pay taxes to support these things?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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