Chapter 1342 Legal Tax Avoidance
I accidentally found several Jeep off-road vehicles from Montana. Han Xuan was very happy when I saw the license plate. Anderson, Jones, Old John and other acquaintances were all here, and I haven't seen them for more than half a year.
Tomorrow is the annual Victoria's Secret Show, and they should have won the Ranch Award this year. There was this rule before that the ten best cowboys can take their families to New York for free at the end of the year. The normal expenses are considered to be from Dad Han.
The person is not in the car, and he has probably already entered it. The company executives often go to the Snow Mountain Ranch for vacation. They may know them, so it is not difficult to arrange a few people to attend the annual meeting.
Entering a small hall inside Madison Garden Plaza, it can accommodate about 3,000 people. It is usually used to rent it for others to hold concerts, but now it is almost full.
Nearly half of the present were senior management, backbone middle-level, senior technicians, etc. of various companies of Xueshan Group. The company has a set of employee rating system, and all those who can participate are elites.
There are also about 900 shareholder representatives, including their families, among which there are many famous big names. They specially took time to come to listen to the year-end summary and New Year's plan of the Snow Mountain Group in order to adjust the investment amount.
Xinjiapo Temasek, Sequoia Capital, Japan Software Banking Group, etc., these can only be considered small companies. Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, Bear Stearns, Citigroup, Merrill Lynch and other major American investment banks also attended the event, and countless small institutions were countless.
Private investors who are capable of participating in this annual meeting are worth at least 50 million US dollars. Tonight, there are as many as 70 billionaires. Only they can have the financial resources to control a small part of the equity in the stock market and then receive an invitation letter to the annual meeting.
There are also many trade union leaders, major partners of various companies, and invited reporters from newspapers, etc., and there are about 600 of these people.
Those who don’t know would think it was a Fed meeting, an annual meeting of a company, which could attract so many giants’ attention. If you throw a heavyweight bomb into Madison Garden Square now, the US economy will regress in the short term.
The number of internal security personnel is at least 300. I often see security guards and police officers looking around with vigilance in their eyes.
Han Xuan's arrival did not attract much attention. He stood behind the second floor seat and watched Executive Anthony who was speaking on the stage. Today, this is Han Xuan's home court. Seeing such a lively scene, it is definitely fake that he said he was not satisfied...
"This year, our Xueshan Group has taken an important step in internationalization.
The main industries of subsidiaries including Hope Group and Han Automobile Group are rapidly growing and expanding, and have achieved enough results that make us proud."
Executive Anthony looked down at the speech, and looked particularly energetic today, and then said: "As of our statistics, the total pre-tax income has reached $11.94 billion.
Among them, 65.3% of the contribution comes from Hope Group. Compared with last year, profits rose by about 7%, and market share increased by about one percentage point.
Snow Mountain Pharmaceuticals accounted for 19.1%, and Hasbro 2.3%..."
Upstairs, Anya quietly asked Han Xuan: "You have made so much this year?"
“No, these data are fake, and the actual profit is even more.
A large part of the funds were left overseas to avoid taxes, and the tax rates required to be paid in the Republic of Maldives were terrifyingly low.
The Republic of Maldives gave me preferential tax policies, but this policy did not consider international tax coordination except for its benefits to the Maldives' economy.
Now my companies have registered subsidiaries in the Maldives, which are legal tax avoidance by taking advantage of the law. My grandfather does the same.
The real data is still with Anthony, and he will give it to me at night, so now these words are enough to listen to them. None of the data is true, but it just looks beautiful. This part of the profit is attractive enough, and more of it goes into my pocket.
Remember not to tell others these things, otherwise I will get into big trouble…”
Anya nodded seriously and agreed. She didn't understand this very well, but Americans all know that tax issues are all big problems.
Multinational companies have been in chaos in taxation. You can roughly guess how messy it is when Apple was punitively demanded by the EU to pay $13 billion in taxes, and the government of the Republic of Ireland refused to collect the money.
Tax avoidance is the default unspoken rule for all multinational companies. The black hands can be extended to important departments such as the White House, the Federal Taxation Bureau, the Department of Commerce, etc. The data released by these companies can only be used as reference values and cannot be trusted.
Small businesses have no loopholes, but they have a lot of funds. Almost none of them are clean in large enterprises that are suitable for operation.
According to data learned by Han Xuan, the total offshore assets of the top 100 companies in the United States now total about 1200 billion US dollars, and the total amount of taxes that are escaped each year is as high as more than 200 billion US dollars.
The most used tax avoidance method they use is called "tax inversion", which means transferring the parent company to overseas countries with low tax rates through overseas mergers and acquisitions.
This tax evasion method mainly relies on loopholes in the US tax laws, because under US law, companies do not have to pay taxes on their overseas profits unless they transfer their profits to the country. If classified as indefinite overseas investment, these profits can be stored overseas for many years.
Such tax-avoiding shell companies established in the past are mainly located in Panama, the Bahamas or the Cayman Islands. Now the Republic of Maldives has become a tax haven. In the past two years, merchants often talk about it. Most of the people who transfer their assets there are small and medium-sized enterprises, and large enterprises do not trust their credibility.
Han Xuan is also evading taxes. Since he was sure to master the political situation in Maldives, his company has been gradually transferred.
For example, Viagra, the sales place is mainly in developed countries with high tax revenue, but the drug patent rights have been transferred to a subsidiary of Xueshan Pharmaceuticals registered in the Maldives. It was originally supposed to pay about 35% of the tax, but now it only needs to pay about 24%. The taxes that can be avoided this year are as high as more than 200 million US dollars.
The old man helped a lot in it. Companies like Hope Group should not be agreed to be relocated, but both the state and the federal Department of Commerce agreed strangely.
Who believes that there is nothing wrong with it?
Maybe it’s only helpful if you get benefits. Anyway, taxes are used for ordinary people and infrastructure. It’s better to get some practical benefits yourself. People have selfish intentions. Officials in the world are the same. Officials in capitalist countries are called black.
People who dare to interfere in investigating such matters are enemies of all the wealthy people, and often don’t even know how they die...
As he listened, Han Xuan dozed off.
He has read this speech. He should have been standing on the stage and talking nonsense. All the numbers can stand the scrutiny and verification. The reason why the several major records offices are so famous is because they have a good set of hidden assets and do a good job of keeping confidentiality.
The only people who can get in touch with real accounts are financial officers and major shareholders, and the CEOs of other companies take turns to change, but most financial officers are as stable as Mount Tai. If the financial officer must leave, he will receive a sky-high ban fee.
Mr. Tristan, the chief financial officer of Snow Mountain Group, graduated from Cambridge University and once worked in the Washington, DC branch of Goldman Sachs. He now serves as the senior vice president of Snow Mountain Group. He is one of the few people who own shares in the head office, accounting for about three thousandths, an increase of one thousandth a year, and at most one hundredths. He has been in this position since the beginning of Han Xuan's business and is now a billionaire.
The status is more important than the company's storefront, executive Anthony, and he is surrounded by all kinds of people who supervise him. If Tristan had plans to rebel and leak information... Han Xuan would not do anything. His hands were clean, but he would definitely tell the old man and other shareholders.
The summary of the executive Anthony on the stage is almost over. Some companies are not listed and do not need to announce their business conditions to the public. Just talk about it roughly.
The Blueberry company, which will make mobile phones, MP3s and Bebook laptops, will then be introduced by the old executive Charlie, which will combine to form a giant similar to later Apple and will be launched in mid-next year.
Only then did the potential investors get serious about it. A company with an annual profit of at least $5 billion is enough to attract their interest. According to this development trend, Blueberry's prospects in the stock market are full of countless profits.
Internet software companies can only be used for speculation at present. Except for Microsoft, Oracle, and sun-Microsystems, other companies do not have much profit. However, Blueberry companies are different, they have a stable market and return rate...
When the old Charlie executive came to the stage, the old Charlie saw Han Xuan at a glance, and his white hair looked like a beacon in the night, so it was hard not to attract his attention.
He coughed, looked at the people sitting, and said, "Tell everyone good news.
Han Xuan, the major shareholder of the group, has made the final decision. Several of its subsidiaries will be integrated and listed. The IPO will be handed over to a company present. Welcome to contact me."
As soon as these words came out, several investment bank executives who opened such businesses couldn't sit still and looked extremely excited.
Taking over this project can bring hundreds of millions of profits. I originally thought it would be handed over to Huamei Bank. Previously, Gossip, PayPal and the upcoming SOS supermarket department all put a company under Huamei Bank in charge of the IPO.
Chapter completed!