Ferrari Mailing List: Re: OT - NFC - State Gov Confiscates Bank Accts ?

[Jason Polzer (jason]

Foreign cards tend to not work well in other countries.  Most stolen 
cards (after the limit is hit) get physically sent to other countries to 
be used for years on small unchecked purchases.  As a result many places 
that can swipe will not even accept a foreign card without a call-in.  
You'd have to pay a local card off with the funds which is traceable, or 
start scheming deeper...

Jason

Hans E. Hansen wrote:
> I've heard of people doing just that.  There are quite a few
> reputable Caribbean banks that will hold trust accounts accessable
> via a Visa card.  Grand Cayman and Bermuda (OK, not
> in the Caribbean....) come to mind.
>
> OTOH, I have absolutely no idea what the IRS might be
> able to do to you.  What likely would make this problematic
> are the various anti-terrorism laws that look dimly on
> money transfers from any source that they might find
> questionable.
>
> Hans.
>
> On 7/26/07, Dave Craig <dave.craig [at] sbcglobal.net> wrote:
>   
> > Ok, so here is a question on semi legal tax evasion.  This is all
> > hypothetical!
> >
> > Let's say that you are getting ready to receive a large chunk of money from
> > a foreign company.  And let's say that you have total influence as to where
> > and how that money is transferred.  Is there any benefit in having a big
> > chunk of that money go into a different country and sit there for a while,
> > say Switzerland.  Then the question becomes, could you get a Swiss credit
> > card that is paid out of that Swiss bank account (or just one really big
> > debit card) and then use that card for the majority of your purchases?
> > Thereby effectively eliminating the 35% or more income tax on that portion
> > of the money.
> >
> > Just curious.
> >
> > Dave
> >     
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