Account within account
From "Merck in $2.3 billion tax settlement with IRS", it seems that this huge fine may have a provision, according to the news, from 1993 to 2001. I do have the interest to know whether there is any profit from such act, but it may not be possible to have any details.
To avoid tax is nothing new, perhaps from the very first day of taxation. Of course, it depends on the size of corporation for different result. With taxation, it is usually handled in a flexible manner so long as tax would be paid.
The technique matters most and it is a game for the big ones. Most SMEs will have hardship to face the tax for a number of years because there is no provision or an account within the account.
For some, by following such practice without the required technique or conditions, all gains from years may be lost. In the worse case, there will be penalty if not imprisonment too.
To avoid tax is nothing new, perhaps from the very first day of taxation. Of course, it depends on the size of corporation for different result. With taxation, it is usually handled in a flexible manner so long as tax would be paid.
The technique matters most and it is a game for the big ones. Most SMEs will have hardship to face the tax for a number of years because there is no provision or an account within the account.
For some, by following such practice without the required technique or conditions, all gains from years may be lost. In the worse case, there will be penalty if not imprisonment too.
posted by F. H. Tong | 7:05 AM
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