Re: Yes, but
It's clearly not the same but the basic point you raise in one where it's clearly a made up scheme not a real situation.
The reality is more complicated, at what point do you require a company to *deliberately* not be as tax efficient as possible?
Take my small business, I pay vat every three months, if I don't pay it on time, they charge me more money. I read the rules saying "pay on time or it will cost more" and I pay on time, hence I have deliberately structured my affairs to reduce my tax bill, why is that wrong?
I think you'd agree that seems a fairly reasonable action, but really how is that any different to the ones who are on the right side of the law with very complicated corporate structures?
At issue is the basic principle of legality, we have laws not morals to bind us. There are "moral" legal systems in the world, and I am eternally grateful that I do not reside within their jurisdiction.
Which leaves us with laws, either its legal or not, and if its legal and you want to do it, you should be allowed to do so with whatever degree of complexity you desire.
Should you be able to use any legal means at your disposal to reduce your tax bill, including setting up elaborate but legitimate overseas holding companies?
If you want to do so and you are not breaking the law, yes you should be allowed.
Biting the hand that feeds IT
