Amid the data, this memo stood out for its candor.
1/ This is a memo outlining 11 ways to hide your money offshore.
It was not supposed to “fall into the wrong hands.”
Well, it did. https://t.co/N6RUDqHVfR
Amid the data, this memo stood out for its candor.
For instance, you could hire an offshore company to do some fake consulting for your business (who knows what consultants do anyway, right?). Your payments go to your offshore account, and you get to write off the fees as an expense.
Lose your money on bad “investments.” You can lucratively lose 6-figure sums by lending to and investing in companies that never show a profit (or even care to earn one). Then you get to write off the planned losses at tax time.
Does someone owe you money? Don’t invoice them—have them send that payment directly into your offshore account, so you never have to declare it.
Owe your money to a third party (who is, in effect, you). If you can produce a contract that says you owe money—that becomes a business expense.
Sell off part of your business (to a secretive entity you happen to control). If you don’t appear to own the business, you don’t have to pay taxes on its profits.
And if you’re curious about what else showed up in that batch of 350,000 leaked documents, read more from @GlobalRepCentre: https://t.co/vtAregqTwR
