Quote:
Originally Posted by OneHungLo
Plundered? You really don't understand how this all works.
If I have a product and sell it in another country, and pay all applicable taxes in said country, how did I plunder that money? All these companies are following the tax laws in whatever country they are selling their goods, and they're also following the tax laws of the US.
I'm assuming you're a capitalist since you're on a business forum, so do you think you should a company should be taxed in a foreign country then when they bring that income home, be taxed at a normal corporate rate?
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90% of American companies doing business overseas have no issues paying those taxes you realise?
One of the ways it works is, you setup a company in a tax haven, that company then sets up another company in a country like Australia. That Tax haven company then claims the Australian company owes it for intellectual fees, which is always more than the Australian one will ever earn, So at tax time any profit is sent back as a repayment on that "intellectual fee", and sadly no income was earned in Australia so no tax is due.
The reason it sat in offshore accounts was not so much fear of paying tax, it was the fear the American Government would snitch it back on behalf of the Australian Government.
Trump issued them a get out of jail free card, which is REALLY interesting as to why, like I've said he could of attached numerous conditions to that, and they still would of brought the money back and paid you the American tax payer what you were due.. like 90% of American businesses operating overseas. But no the deal slipped through very fast, nothing was negotiated, trillions were added to America's bottom line... and everybody dances the country is booming, totally forgetting that money was a one off event. It doesn't add up and is certainly being used to fudge the books, personally I suspect someone was being backhanded cash bigly to make it happen the way it did.