Quote:
Originally Posted by The Yen Man
So what's the difference really between this and say hiring a tax consultant to minimize your taxes? Their job is to look for things like this so you pay as less taxes as possible. Again, I stress that as long as it's legal, it should be fair game IMO.
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I think part of the issue with these shell corporations is that there are also plenty of false transactions.
For example, if you buy something from this shell corporation and then proceed to write off that income as a business expense in Canada, they send you a fake invoice, yet didn't actually really pay for any services and the money is still in your hands in an overseas bank account...
That's where some of the outrage is coming from.
It would be like I submitted a bunch of fake medical expenses to Revenue Canada for a tax break, which is illegal.