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(The Local)   In news that will surprise no-one, tycoons owning F1 racing teams and yachts are probably avoiding paying a lot of tax   ( thelocal.it) divider line
    More: Amusing, European Union, four-year sentence, multi-million-dollar superyacht, Force Blue, young idealists, Cayman Islands, EU waters, EU regulations  
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415 clicks; posted to Sports » on 12 Feb 2018 at 9:33 PM (21 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2018-02-12 08:49:26 PM  
It really helps if the businesses are incorporated on tribal lands.

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(His episode or Dirty Money was full of sweet, sweet schadenfreude).
 
2018-02-12 09:50:35 PM  
Tax evasion is the illegal evasion of taxes by individuals, corporations, and trusts. ... In contrast, tax avoidance is the legal use of tax laws to reduce one's tax burden.
 
2018-02-13 04:25:45 AM  

Mad_Radhu: It really helps if the businesses are incorporated on tribal lands.

[img.fark.net image 425x283]

(His episode or Dirty Money was full of sweet, sweet schadenfreude).


Agreed.  Like a lot of scandals though, it reveals how much truly awful stuff is perfectly legal.  He mostly did a decent job of racing to the rule book
 
2018-02-13 08:01:07 AM  

mr lawson: Tax evasion is the illegal evasion of taxes by individuals, corporations, and trusts. ... In contrast, tax avoidance is the legal use of tax laws to reduce one's tax burden.


Except, in this case it was evasion.

Briatore claimed he didn't have to pay European fuel taxes because the boat didn't belong to him, but to a company registered in the Cayman Islands.  However, since the boat didn't leave European waters after refueling, he still had to pay them, regardless of who owned the boat.
 
2018-02-13 11:31:03 AM  
Tax evasion is the true national sport of Italy.
 
2018-02-13 12:03:33 PM  

FreeLawyer: Tax evasion is the true national sport of Italy.


Taxes are hard to pay after you account for protection money
 
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