It's funny you can take something that every major multinational company does and slap "Tesla" on it and then write a whole news story.
> The practice, while controversial, is a common maneuver through which multinational corporations use loopholes in tax law to save money by moving profit from one jurisdiction to another with more favorable tax rules. “It’s not the way the international tax system should work,”
Yes but that is how it works and it can be changed at any moment in the US Congress. There seems to be bipartisan support for it working this way, in fact.
tracker1•25m ago
That was kind of my take... not only that, but you can be against a practice, but still use it while it's there... There's a certain amount of fiscal/fiduciary responsibility the heads of companies have that could get them into trouble if they didn't take advantage of any loopholes they're aware of.
That said, like you mention... It would be easy enough for Congress to change the law and even add incentives or fees for trying to shift financial profits or exfiltrating currency/value altogether.
palmotea•2m ago
> It's funny you can take something that every major multinational company does and slap "Tesla" on it and then write a whole news story.
What's your alternative? Never write about these practices after the first instance gets an article?
IMHO, it's newsworthy that a particular company does this, and the exploitation of tax loopholes is an evergreen topic until those loopholes disappear or cease being controversial.
> There seems to be bipartisan support for it working this way, in fact.
Is there actual affirmative bipartisan support for this, or a lack of sufficient support or ability to push a change through our dysfunctional congress? With the filibuster and Republican attitudes about taxes, I'm sure any change would have to clear a super-majority.
declan_roberts•1h ago
> The practice, while controversial, is a common maneuver through which multinational corporations use loopholes in tax law to save money by moving profit from one jurisdiction to another with more favorable tax rules. “It’s not the way the international tax system should work,”
Yes but that is how it works and it can be changed at any moment in the US Congress. There seems to be bipartisan support for it working this way, in fact.
tracker1•25m ago
That said, like you mention... It would be easy enough for Congress to change the law and even add incentives or fees for trying to shift financial profits or exfiltrating currency/value altogether.
palmotea•2m ago
What's your alternative? Never write about these practices after the first instance gets an article?
IMHO, it's newsworthy that a particular company does this, and the exploitation of tax loopholes is an evergreen topic until those loopholes disappear or cease being controversial.
> There seems to be bipartisan support for it working this way, in fact.
Is there actual affirmative bipartisan support for this, or a lack of sufficient support or ability to push a change through our dysfunctional congress? With the filibuster and Republican attitudes about taxes, I'm sure any change would have to clear a super-majority.