Video
N.Y.C. expected to lose more than $300 million from the wealthy fleeing city for low-tax havens
It's Tax Day and there's a secret strategy among some high income earnings to avoid paying business and income taxes in cities like New York, and it's all because they're now working from home.
URL LINK: https://youtu.be/9nqDTqZC0UY
QUESTIONS:1) How financially adverse is the mass exodus of wealthy New Yorkers from the Big Apple? 2) What technology does Monaeo utilize in tracking tax payments as per location? How much is the expected loss from hedgefund and private equities?3) List the popular tax haven destinations amongst them.4) Differentiate the payment requirements between commuters' personal income tax and partnerships. Do you find the loophole acceptable or unfair?5) How does the work-from-home setup affect the tax duties in your country? VOCABULARY/EXPRESSION:hedgefund - a flexible investment company for a small number of large investors (usually the minimum investment is $1 million)
