Quote:
Originally Posted by Humpy Leftnut
Does the onus fall on the owners of a company to follow the rules, or does it have to do with the exchange of money? If a US entity received money from an International company but didn't own any of that company, they wouldn't be liable for the actions of that company right? I don't see how... But maybe?
|
The owners (specifically the officers - tho that may vary depending on what international company - ie where there are nominees) are responsible for complying with corp laws where that corp is formed. Don't know what stage it may hit, but would ask who are the beneficial owners?
Quote:
Originally Posted by Humpy Leftnut
Just thinking if US people just put their companies into trust in another country and just received revenues from them as consulting contracting and expense fees, how could they be held liable for the actions of the international company, with no ownership involvement?
|
Who is the trustee?
He/she or they "own" the trust - again, depending.
Can't say for US law - sounds like time for advice from a taxation lawyer and also advice from an "adult entertainment" lawyer.
Sure.. nothing wrong with a contract with an "international corp" and getting paid (and declaring this as income) - but the background may not be "clean".
Only thoughts are - if this is seen a contrived device to step outside the laws of whatever country, that may add to the problems. Depending where that "international corp" is located, there may be (most likely) MLAT's in place.