Fine Art: the world’s most secret tax scam

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funeralxempire
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03 Mar 2022, 12:21 pm


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shlaifu
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03 Mar 2022, 9:57 pm

yeah. not so secret, really.
I mean, a few major airports in the world have storage facilities with small museums attached, so rich people can view the art they are tradibg before it goes back to storage, with a new owner - but never actually leaving airport grpunds, i.e., never getting imported into any country. It's just there, in storage, waiting to be used as a token to launder money. Technically, it wouldn't matter if all the containers in these facilities were empty.

Christopher Nolan's Tenet had the art storage facility at Oslo airport as location for part of the plot. First time I saw one of them in anything and being acknowledged outside the art world at all.


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funeralxempire
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04 Mar 2022, 10:55 am

It's telling how no one wants to crack down on how our oligarchs launder their money.


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There's no such thing as a free market.
If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing. —Malcolm X
Just a reminder: under international law, an occupying power has no right of self-defense, and those who are occupied have the right and duty to liberate themselves by any means possible.


shlaifu
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04 Mar 2022, 10:41 pm

as Gouvernor, Biden made Delaware a paradise for shell corporations. I think the art market is one way to launder money and dodge taxes, but it's quite a niche thing, compared to, well, shell corporations, or setting up your company in a country where you don't have to pay taxes in the first place. - there's a good reason all the tech companies are officially based in Ireland.

no, our goverents aren't going after tax dodgers and money launderers. Our governments are there to keep the status quo stable.


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Misslizard
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06 Mar 2022, 6:02 pm

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funeralxempire
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06 Mar 2022, 6:18 pm

shlaifu wrote:
as Gouvernor, Biden made Delaware a paradise for shell corporations. I think the art market is one way to launder money and dodge taxes, but it's quite a niche thing, compared to, well, shell corporations, or setting up your company in a country where you don't have to pay taxes in the first place. - there's a good reason all the tech companies are officially based in Ireland.

no, our goverents aren't going after tax dodgers and money launderers. Our governments are there to keep the status quo stable.


Was Biden around in the 1800s when Delaware first became known for that? :scratch:

https://www.investopedia.com/terms/d/de ... ration.asp


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There's no such thing as a free market.
If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing. —Malcolm X
Just a reminder: under international law, an occupying power has no right of self-defense, and those who are occupied have the right and duty to liberate themselves by any means possible.