Where have all the tax avoiders gone?

Where have all the tax avoiders gone?

A new holding company created in the Cayman Islands expressly to sell assets worth tens of millions of dollars. Those assets assigned an accounting value of zero, effectively invisible in the company’s balance sheet. An “arbitrary” US$10,000 cash injection explicitly designed to activate a tax law permitting a “total tax free gain of about US$60 million”, calibrated not to affect the “commercial effects of the transaction.”What label should we give…

Eight speculations

Eight speculations

I know, I know: bloggers should resist the urge to speculate about a company’s tax affairs unless they’ve really spent a good long time scouring company registries, reading court cases, talking to people in and outside the company, corresponding with tax directors. Doing their best to review everything that’s in the public domain, and as much of what isn’t as they can get their hands on.I haven’t, it’s fair to…