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by joshfraser 3207 days ago
Someone needs to start a company that offers transfer pricing as a service. Sign up and get a physical address, subsidiary corporations, bank accounts and even employees & board members in Ireland. Much of this can be shared infrastructure of course. If tax avoidance is going to be legal for the big guys, why not make it accessible to everyone?
4 comments
prostoalex 3207 days ago
As soon as you personally take advantage of the money on that account, it's treated as personal income to you. But IRS Does have a concept of foreign income https://www.irs.gov/individuals/international-taxpayers/fore...
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joshfraser 3207 days ago
That's why so many corporations keep their money offshore and figure out creative ways to spend it without repatriating it.
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prostoalex 3207 days ago
Only works with the foreign revenue, US-based revenues will be taxed regardless of where they end up eventually.

Europeans kinda shot themselves in the foot by not having a similar rule, and looks like they're wising up to that.

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anonymousDan 3207 days ago
Google Europe has 6000 employees in Dublin, so it is a bit unfair to cast it as some kind of brass plate operation.
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joshfraser 3207 days ago
At Google's level, transfer pricing is a negotiation game with tax authorities. Having that many employees based in Ireland helps Google's case for routing more revenue through a double-Irish arrangement and making profits disappear.
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eternauta3k 3207 days ago
I'm sure this exists. The Planet Money folks hired a similar service for some other tax haven.
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joshfraser 3207 days ago
There are tons of financial firms that will set it up for you on a consulting basis. Here in the bay area, Duff & Phelps work with a lot of the big tech companies. Don't know of anyone who's automated the process or turned it into a SAAS product yet (for obvious reasons).
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csomar 3207 days ago
Get paid through anon. crypto and spend through anon. debit cards? This is already a solved issue.
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KGIII 3207 days ago
That would be tax evasion. Tax evasion is illegal. Tax avoidance is legal.

This is not legal advice. I am not your lawyer. Consult a qualified attorney in the appropriate jurisdiction.

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