So let me just first of all say that I am not looking to do anything illegal. No amount of money is worth going to jail, i would not hold up well in prison. With that being said I am curious though how the wealthy are using Panama tax laws legally.
From what I understand is that if you live in the EU but have a panama bank account you can send your companies earnings to your Panama bank account and wont pay any tax on this. I believe that Facebook, google etc all do something similar. This is all based off of very little amounts of information i could gather. I Just want to know more as surly this isn't illegal if many companies are benefiting from this ?
Lets say i start a company and it starts doing really well. Its based in France but I dont want to pay frances insane tax rates on my income so I send the money i earn directly to a bank account in Panama and I dont pay any taxes on it. Surely that is illegal. Otherwise why isn't everyone doing this ?
Submitted August 20, 2018 at 07:17AM by ItsIsh1 https://ift.tt/2MBvYmC
