Chapter 1342 Legal Tax Avoidance
Unexpectedly found several Jeep off-road vehicles from Montana, Han Xuan was very happy when he saw the license plate, Anderson, Jones, Old John and other acquaintances' cars were here, and they hadn't seen them for more than half a year.
Tomorrow is the annual Victoria's Secret catwalk, they should have won this year's ranch award, there used to be this rule, the ten best cowboys every year, can bring their families to New York for free travel at the end of the year, and the normal cost is Daddy Han's.
The people are not in the car, they have probably entered it, and the company's executives often go to the snowy mountain ranch for vacation, and it is likely that they know them, and it is not difficult to arrange a few people to attend the annual meeting.
Enter a small hall inside Madison Garden Plaza, which can accommodate about 3,000 people, and is usually rented out for concerts, but now it is almost full.
Nearly half of the attendees are senior management and backbone middle-level and senior technicians of various companies of Snow Mountain Group, and the company has a set of employee rating system, and all those who can participate are elites.
In addition, there are about 900 shareholder representatives, including their families, many of whom are well-known and bigwigs, who took the time to come here to listen to the year-end summary and New Year's plan of the Snow Mountain Group, so as to adjust the investment quota.
Xinjiapo Temasek, Sequoia Capital, Japan Software Banking Group, etc., these can only be regarded as small companies, Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, Bear Stearns, Citigroup, Merrill Lynch and other major investment banks in the United States were also present, and countless small institutions are countless.
The private investors who have the strength to participate in this annual meeting are worth at least 50 million US dollars, and the number of billionaires worth hundreds of millions of dollars tonight is as many as 70 or so.
There are also quite a few leaders of various trade unions, major partners of various companies, and journalists from invited newspapers, about 600 of them.
I don't know that I thought it was a Federal Reserve meeting, an annual meeting of a company, and it was unimaginable that it could attract the attention of so many giants, and if a heavyweight bomb was dropped on Madison Garden Square now, the US economy would regress in the short term.
The number of internal security personnel has reached at least 300, and it is not uncommon to see security guards and police officers looking around with vigilance in their eyes.
Han Xuan's arrival didn't attract too much attention, he stood behind the seat on the second floor, looking at the executive officer Anthony who was speaking on the stage, today is Han Xuan's home field, seeing such a lively scene, it is absolutely fake to say that he is unexpected......
"This year, we at Snow Mountain Group have taken an important step towards internationalization.
The main industries of its subsidiaries, including Hope Group and Han's Automobile Group, are growing and expanding rapidly, and have achieved enough results that we are proud of. ”
Executive Officer Anthony looked down at the speech, and the whole person looked extremely energetic today, and then said: "As of yesterday, according to our statistics, the total pre-tax income has reached 11.94 billion US dollars.
Among them, 65.3% of the contribution came from Hope Group, compared with last year, the profit increased by about 7%, and the market share increased by about one percentage point.
Snow Mountain Pharmaceuticals accounted for 19.1% and Hasbro accounted for 2.3% ......"
Upstairs, Anya quietly asked Han Xuan, "How much have you earned this year?" ”
"No, these figures are all fake, and the actual profit is even more.
A large part of the funds are left overseas to avoid taxes, and the tax rate that needs to be paid in the Republic of Maldives is terrifyingly low.
The Republic of Maldives has given me preferential tax policies, but this policy does not take into account the issue of international tax synergy, except for the benefits of the Maldives' economy.
Now my companies have registered subsidiaries in the Maldives, which is a legal tax avoidance by taking advantage of the law, and my grandfather did the same.
The real data is still with Anthony, and he will give it to me in the evening, so now these words can be listened to and played, none of the data is true, it just looks beautiful, this part of the profit is attractive enough, and more goes into my pocket.
Don't tell anyone about this, or I'll get into big trouble......"
Anya nodded seriously, she didn't quite understand this, but Americans know that tax issues are big issues.
Multinational corporations have been in turmoil in terms of taxation, and if you look at the later generations when Apple was punitively required by the EU to pay $13 billion in taxes, and the government of the Republic of Ireland refused to collect the money, you can roughly guess how chaotic it is.
Tax avoidance is the default unspoken rule of all multinational companies, and the black hand can be extended to the White House, the Federal Internal Revenue Service, the Department of Commerce and other important departments, and the data released by these companies can only be used as a reference value, not credible.
There are no loopholes for small businesses, but there are almost no clean large enterprises with a lot of capital and suitable for operation.
According to the data learned by Han Xuan, the total offshore assets of the top 100 companies in the United States today are about 1.2 trillion US dollars, and the total amount of taxes evaded every year is as high as more than 200 billion US dollars.
The tax avoidance method they use the most is known as "tax inversion", which is the transfer of the parent company to a low-tax overseas country through overseas mergers and acquisitions.
This type of tax evasion relies heavily on loopholes in the U.S. tax code, because under U.S. law, companies don't have to pay taxes on their overseas profits unless they transfer them domestically, which can be stored overseas for many years if they are classified as indefinite overseas investments.
In the past, such tax shelter shell companies were mainly located in Panama, the Bahamas or the Cayman Islands, and now the Republic of Maldives has also become a tax haven, and in the past two years, businessmen have often talked about it, and most of the assets transferred there are small and medium-sized enterprises, and large enterprises do not trust its credibility.
Han Xuan is also avoiding taxes, and since he has been sure to control the political situation in the Maldives, his company has been moving one after another.
For example, Viagra is mainly sold in developed countries with high taxes, but the drug patent rights have been transferred to a Snow Mountain Pharmaceutical subsidiary registered in the Maldives, which should have paid about 35% of the tax, but now only needs to pay about 24%, and the tax that can be avoided this year is as high as more than 200 million US dollars.
The old man helped a lot in this, and a company like Hope Group clearly shouldn't be allowed to relocate, but both the state and the federal Department of Commerce strangely agreed.
said that there is no greasy inside, who believes it?
Probably to get benefits to help, anyway, the tax is used for ordinary people and infrastructure, it is better to get some practical benefits yourself, everyone has selfish intentions, officials in the world are the same, officials in capitalist countries, black is called black.
Those who dare to intervene in the investigation of such things are making enemies of all the rich and often don't even know how they died......
Listening to this, Han Xuan dozed off.
He had already read the speech, and it should have been him standing on the stage talking nonsense, all the figures could stand up to scrutiny, and the reason why the office was so famous was because it was very good at hiding assets and did a good job of secrecy.
The only people who have access to the real accounts are the financial officer and the major shareholders, and the CEOs of other companies rotate, but most of the financial officers are stable, and if the financial officer has to leave, he will get a sky-high hush money.
Mr. Tristan, the chief financial officer of Snow Mountain Group, graduated from Cambridge University, once worked in Goldman Sachs, Washington, D.C., and now serves as senior vice president of Snow Mountain Group, is one of the few people who own shares in the head office, accounting for about three thousandths, increasing by one thousandth every year, up to one percent, he has been in this position since the early days of Han Xuan's business, and is now also a billionaire.
Status is more important than the company's façade, Executive Anthony, surrounded by all kinds of people who supervise him, if Tristan has plans to betray and leak secrets...... Han Xuan will not do anything, his hands are clean, but he will definitely tell the old man and other shareholders.
The summary of the executive officer Anthony on the stage is almost over, some companies are not listed, and there is no need to announce the operation to the public, just talk about it.
This will be followed by executive Charlie Sr., who will focus on BlueBerry Corporation, which makes mobile phones, MP3s and Bebook laptops, which will be combined into a giant similar to the Apple of later generations, which will be available in the middle of next year.
That's when the potential investors got serious, and a company with an annual profit of at least $5 billion was enough to arouse their interest, and according to this trend, the prospects of Blueberry in the stock market were full of countless profits.
Internet software companies, at present, can only be used for speculation, except for Microsoft, Oracle, sun-Microsystems, other companies do not have much profit, and Blueberry is different, it has a stable market and rate of return......
When the old Charlie executive came to power, the old Charlie saw Han Xuan at a glance, and his white hair was like a light at night, and it was difficult not to attract his attention.
He coughed, looked at the people seated, and said, "Good news for everyone."
Han Xuan, the major shareholder of the group, has made the final decision, several of its subsidiaries will be integrated and listed, and the IPO will be handed over to a company here, welcome to contact me. ”
As soon as these words came out, the executives of several investment banks that opened such businesses couldn't sit still and looked extremely excited.
Winning the project, which would bring hundreds of millions of profits, was originally thought to be handed over to East West Bank, where Gossip, PayPal and the soon-to-be-listed SOS supermarket division all let a company owned by East West Bank be in charge of the IPO.
Old Charlie heard the commotion from the audience and understood that the piece of meat that the little boss threw out to feed the wolf was big enough.......