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

2/ The “11 ways” memo is part of a huge trove of documents—350,000 to be exact—leaked from inside a trust company called La Hougue, based on an island off the coast of France.

Amid the data, this memo stood out for its candor.
3/ After one tax expert reviewed it, he told @SamEifling and @CalynShaw, “I have to say I’m not sure what else I can add other than ‘WTF’? (you can quote me on that). How stupid (or confident nothing will ever happen to you) do you have to be to put this in writing?”
4/ Mother Jones and @GlobalRepCentre are surfacing this particular memo simply because it’s the sort of thing you never see: a customer-facing document obtained in a big offshore data leak, quoting dollar amounts that few people ever hold in their hands at one time.
5/ Each of the 11 options listed in the memo offers some sort of contrived business deal by which you move money into an anonymous offshore account. And—here’s where the genius lies—they design those deals to give you some sort of tax break. The methods are, at best, legal-ish.
6/ So, let’s say you are a member of the global 1 percent looking to outsmart your own government. Here are a few options at your disposal, according to the memo…
7/ Strategy No. 1: Pay yourself.

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.
8/ Strategy No. 2: Invest in guaranteed failures.

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.
9/ Strategy No. 3: Hide your assets.

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.
10/ Strategy No. 4: Pay fake penalties.

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.
11/ Strategy No. 5: Sell your company to yourself.

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.
12/12 See more ways to hide your wealth offshore—and read the memo for yourself—here: https://t.co/N6RUDqHVfR

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

More from Finance

The Dutch regulator and DNB as financial supervisor are a tough cookie to deal with. In essence they hyperregulate EU-rules into goldplated Dutch rules which go beyond what is prescribed in Europe.

All NL-customers at British banks may thus be kicked out on brexit.

Thread

/1

If we start with the capital requirements directive, it says attracting deposits is forbidden. In article 9.

https://t.co/RYl7SXligC


Now the translation of that rule into Dutch law is slightly expanded to not only prohibit attracting deposits, but to also prohibit, having those deposits under custody ('ter beschikking hebben').

That's not in EU law, but it is in our Dutch law.

https://t.co/PsbWfNY3PA


So if you wonder how this would work out for UK banks and Payment institutions servicing Dutch customers. Have a read at the technical explanation of DNB, the financial supervisor and their summarising table.

https://t.co/LL0fAnYkRJ

Passive servicing of Dutch is not allowed!


Any bank or PSP in the UK that continues to serve Dutch customers (as in retail customers, professional players are excepted) can thus be subject to fines and policing under Dutch law.

Meaning we not only have Accidental American issues in payments, but also Accidental Dutchies

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हिमालय पर्वत की एक बड़ी पवित्र गुफा थी।उस गुफा के निकट ही गंगा जी बहती थी।एक बार देवर्षि नारद विचरण करते हुए वहां आ पहुंचे।वह परम पवित्र गुफा नारद जी को अत्यंत सुहावनी लगी।वहां का मनोरम प्राकृतिक दृश्य,पर्वत,नदी और वन देख उनके हृदय में श्रीहरि विष्णु की भक्ति अत्यंत बलवती हो उठी।


और देवर्षि नारद वहीं बैठकर तपस्या में लीन हो गए।इन्द्र नारद की तपस्या से घबरा गए।उन्हें हमेशा की तरह अपना सिंहासन व स्वर्ग खोने का डर सताने लगा।इसलिए इन्द्र ने नारद की तपस्या भंग करने के लिए कामदेव को उनके पास भेज दिया।वहां पहुंच कामदेव ने अपनी माया से वसंतऋतु को उत्पन्न कर दिया।


पेड़ और पौधों पर रंग बिरंगे फूल खिल गए और कोयलें कूकने लगी,पक्षी चहकने लगे।शीतल,मंद,सुगंधित और सुहावनी हवा चलने लगी।रंभा आदि अप्सराएं नाचने लगीं ।किन्तु कामदेव की किसी भी माया का नारद पे कोई प्रभाव नहीं पड़ा।तब कामदेव को डर सताने लगा कि कहीं नारद क्रोध में आकर मुझे श्राप न देदें।

जैसे ही नारद ने अपनी आंखें खोली, उसी क्षण कामदेव ने उनसे क्षमा मांगी।नारद मुनि को तनिक भी क्रोध नहीं आया और उन्होने शीघ्र ही कामदेव को क्षमा कर दिया।कामदेव प्रसन्न होकर वहां से चले गए।कामदेव के चले जाने पर देवर्षि के मन में अहंकार आ गया कि मैने कामदेव को हरा दिया।

नारद फिर कैलाश जा पहुंचे और शिवजी को अपनी विजयगाथा सुनाई।शिव समझ गए कि नारद अहंकारी हो गए हैं और अगर ये बात विष्णु जी जान गए तो नारद के लिए अच्छा नहीं होगा।ये सोचकर शिवजी ने नारद को भगवन विष्णु को ये बात बताने के लीए मना किया। परंतु नारद जी को ये बात उचित नहीं लगी।