The news headlines frequently make mention of the ultra-rich paying little to no taxes. Names like Bezos, Buffet, and Musk are painted in a negative light because of their low tax burdens.
Although companies have been moving online for years, the pandemic certainly quickened the pace at which it is happening, and this is opening discussions for tax changes that are not favorable to many people and businesses.
If you’ve ever heard of an offshore company, then you might be curious about what this means. Unfortunately, offshore companies have the false reputation of being tied to money laundering and tax evasion, as does all offshore banking.
2020 has been a year of unexpected events triggering rapid transformation across a myriad of industries, and perhaps none has been hit quite as hard as the banking sector.