I have a company where, one after the British royal family member of a large single. This is the name of the Royal members of the famous philanthropist, she has several charitable funds in Africa, designed to help African countries to build schools, hospitals, expanding her charity. Our company need to do is to help the philanthropist through swap transactions to be exempted from the government high taxes. After the company received the task, accountants, lawyers and analysts have all been mobilized to help the royal family to design, calculation, analysis and research, for her ten-year plan a tailor-made contract – return on equity swap contracts.
The contract is too beautiful, in the Wall Street called unprecedented. In this swap transaction, the royal family in a decade to “legitimate” tax evasion and fifty million U.S. dollars, and we will pocket ten million dollars. Because the return on equity swaps are not securities, and not subject to any regulation, do not disclose to anyone, including the Inland Revenue Department. Strictly speaking, the deal is indeed legal. Surprisingly, this philanthropist huge tax savings, but also will put her charity fund. This makes me confused, since the preparation to donate, why should tax evasion it?
Do not like “to be” tax
By Warren Buffett, Bill Gates set up charitable funds case, I finally understood, in fact, European and American rich people to donate one of the main wealth, and we the general public, is not like “was” to pay tax . Buffett himself has said he paid every year to the government’s personal income tax (Income tax) is even less than his secretary.