Report: “Leads Funds To Bermuda Tax Dodge”
Last year, about $450 million belonging to top executives at billionaire hedge fund manager John Paulson’s New York firm took a quick round trip to Bermuda, Bloomberg reports.
“In April, the executives sent the money to a reinsurance company that they’d set up on the island 650 miles off the North Carolina coast. By June, the Bermuda company, which has no employees and sells far less reinsurance than the industry norm, had sent all the cash back to New York, to be invested in Paulson & Co. funds.
“By recycling the funds through Bermuda-based Pacre Ltd., the Paulson executives are positioned to legally exploit a little-known tax loophole, reduce their personal income taxes and delay paying the bill for years,” Bloomberg said.
Read the full article here on Bloomberg.
Who is “Bermuda-based Pacre Ltd., the Paulson executives are positioned to legally exploit a little-known tax loophole, reduce their personal income taxes and delay paying the bill for years,”
Who runs that company and is that was IB is about? Just asking cause I don’t know.
So let me get this straight we are supporting companies hiding monies not to pay taxes in their countries? Isn’t that how the 40 thieves ancestors became rich – bringing pirate spoils and building a life long rich line of families with Pirates Frith, Gibbons, Smith etc?
You know nothing about them ,just hearsay.
We know a lot about them – not IB – that house of cards will fall in short order – I mean the Friths, Gibbons, Coopers, Triminghams the Smith’s (the “Smith’s” who OWNED – I like that phrase – my ancestors) Yes we know a lot.
Sweep your past under the rug and pretend it did not provide you with all that you have. Your I’ll begotten gains shall we say… You think your White ancestors worked any harder than mine!!
Lets truly level this playing feild and see who comes out on top. The only advantage the “anglo” race has is its fake PETRO-DOLLAR hegomony – China and Russia are working double time to end that. Enjoy your wine while it lasts.
On another note the IRS will do nothing to change these loopholes – it is simply posturing by the Obama admin. Lobbyists have this locked up and congressman funded (through the backdoor LOL!) will never pass a law that essentially kills their chance for re-election.
The beat goes on…
“So let me get this straight we are supporting companies hiding monies not to pay taxes in their countries?” No, companies don’t set up here for the tax advantage. They come because of the beautiful beaches, the sterling education system, the fairness of the courts and the affordable cost of goods and services.
Of course they come here for the tax advantage.