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Reduce Tax

Discussion in 'BlackHat Lounge' started by PinguSpy, Nov 22, 2016.

  1. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    This is my friend story. Copy it from somewhere else.

    1. In his local country, the gov only audit the net profits through his local company bank account & his paypal account since he's doing online business.

    2. So, he only withdraw/keep 10-20% max the net profits to his paypal and in his local company bank account & personal account.

    3. Another 80% of the net money, he transfer it to example: payooner, skrill or other merchant. (And he declare it as his business expense). Dont ask me how he gonna do it.

    4. And he received the credit card visa/mastercard from those other merchant.

    5. Then, he doing shopping, buy things and stuff. Using other merchant credit card.

    So the question is, did the gov still can detect his money in other merchant account? Since he use the credit card (visa/mastercard) with his own name address etc? But, the gov only see through his paypal, local company bank account & his local personal account + local credit card (visa/mastercard)?

    He's not from U.S, EUROPE. He just from 3'rd asian country.


    Thanks.
     
  2. Viraff

    Viraff BANNED BANNED

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    Are you talking about the asian country as india?
     
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  3. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    He's from Malaysia.
     
  4. Viraff

    Viraff BANNED BANNED

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    Government cant detect his money from the other payment sources for sure. The credit card which he uses doesnt show the income of the money in other payment processors, and the payment processors wont submit that info in malaysia government unless they take his tax details.
     
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  5. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    I hope so.
    Because my friend, he paranoid due to visa/mastercard. Because its the same company for his local bank account credit card.
    Even he not really understand how the personal information in visa/mastercard been stored.
     
  6. Viraff

    Viraff BANNED BANNED

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    He can be relaxed, they wont do anything and they dont even know how much he stores.
     
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  7. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    Thanks anyway!
     
  8. redarrow

    redarrow Elite Member

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    In the uk wouldnt stand a chance to hide a penny.

    This is why 3rd world countrys stay 3rd world tax invasion.

    Why not be honest , so meny unfortunate ppl need that tax money.
     
  9. PinguSpy

    PinguSpy Jr. VIP Jr. VIP

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    I dont mind to pay tax.

    But in my country, the gov are thief. They steeling billion of money ever year. Once the country debt keep increasing, they start to produce another tax to cover their mess.

    They own POLICE, corruption agency and many more. Nobody can catch them. Just Google 1MDB scandals.
     
  10. Gogol

    Gogol Jr. VIP Jr. VIP

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    Well not sure about other countries but in India, they can detect everything ( your accounts are tied to your PAN). The thing is, they still do not care in most of the cases. This is why they tell you to "declare" your income. $10000 is nothing for a govt, but it might mean a luxury life for you. I prefer to stay safe and be happy about contributing for the welfare of the country I live in, but I could obviously avoid showing some of the funds.. if I wanted to (and if they decide to scan through my PAN, I will get f'ed).