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Originally Posted by Paul Markham
Well here's proof the porn industry has shrunk. Don't tell us a change in the way the business works replaces the huge profits recorded porn use to make.
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looooool - the proof - hahahaha - yes the proof that you are a complete fool.
you have no fucking clue how an international company works as you never had this problem to pay taxes with your small income.
mindgeek is just one part of a group of holding that are based in many different countries.
in any kind of holding there is nothing more unwanted than profits.
out of that, luxembourg is not that taxheaven anymore because of the EU regulations - there are much better ways to pay less tax.
here is another article that explains you how this game is working:
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Porn empire reports half billion dollars in revenue – but ends year with loss
Luxembourg-based MindGeek, which runs some of world's biggest porn websites, reports revenues of $460 million in 2015
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this 460 million is NOT the revenue of the group. this is what wents to Luxembourg AFTER the operation costs of the local companies and holdings.
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MindGeek Sarl has 62 subsidiaries located in the British Virgin Islands, Canada, Curacao, Cyprus, Germany, Ireland, Luxembourg, Mauritius, Netherlands, the UK and the US.
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but ohhh - the make a lost - how comes ?
it comes because the mindgeek owners gave the capital as a loan. it is not company capital.
and the interest paid on this loan are costs.
and costs prevent to make profit.
no profit - no tax !!!
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MindGeek reported a loss of $47.9 million for the year, partly pushed into the red by high finance costs of $126.8 million, which amounted to around 20% of its total liabilities.
The company, credited with revolutionising the porn industry by making content widely available for free online, had borrowings in 2015 amounting to $406 million.
It expected to pay interest on its debt of 14% but was paying an effective rate of 20.9% due to additional fees.
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if you're already talking about going peeing with the big dogs then you should at least be able to lift your leg as high as they do.
you have such a zero idea that you should only keep your mouth shut when people are talking who have a clue how the game works