The casino’s total fiscal revenue last year was more than 1.4 billion, of which the gaming industry contributed nearly 10 billion.
The Su family father and son also made some contributions, but the majority of the tax paid was not given to the casino.
Su Yehao's companies are mainly registered in tax havens such as the Cayman Islands and Bermuda, or in Hong Kong cities or the mainland.
In addition, almost all of the books are at a loss, and we enjoy tax benefits in the north, so the amount of tax paid is not too much.
On the contrary, the business in the United States is a bit stressful.
Litigation costs, hiring a financial company, hidden expenses, etc. all add up, and the burden suddenly goes up. There are no preferential policies for high-tech companies, and the actual tax rate is a bit high.
It’s no wonder that later generations often hear that companies like Apple always like to hide their overseas income in tax hollows. As long as they don’t bring it back to the United States, they don’t need to pay taxes for the time being. Almost all multinational companies are trying to find ways to take advantage of loopholes, and the same goes for the rich.
Like family charitable trust funds, many are established to avoid inheritance taxes and only need to donate about 5% of the total assets every year. In fact, the money is left to the right, and ultimately it is managed by yourself.
So there is a phenomenon like the Rockefeller Family Foundation, which has been donating to other countries for decades, but the money in the charity fund has been donated more and more.
Therefore, unless you are looking at someone who spends all their real money, otherwise you don't need to believe a word of descriptions such as being a philanthropist and giving back to the society. They just don't want to pay taxes with half of their family property.
Let’s talk about per capita income.
The gambling city is far from wealthy, and it is estimated that it will take a few more years of accumulation before there is a chance for a qualitative change.
Things like the Sihai Casino Hotel, Sands Casino Hotel, and Grand Lisboa Casino Hotel are all under construction. They are not yet helpful in attracting tourists. The number of local enterprises is very small. It is strange how wealthy they can be financially. They are nothing like the Hong Kong City.
Method comparison.
Probably because of tight money, casinos are indeed seriously considering the tax reform draft.
If we attract some rich people and multinational companies with nothing, even if the taxes are slightly lower, it will be much better than nothing.
At that time, not only can we collect some money back, but it can also create employment, stimulate consumption, and enhance the influence of the casino. It will do many things. Anyway, many places are rushing to do it, and they can’t give up face and money.
Casinos have fewer people and less expenses. They don’t need too high tax rates, and the fiscal revenue can make local residents live a pleasant life.
The reason why Su Yehao actively pushed forward was mainly for his own consideration.
He hopes that his "home base" will become more comfortable, and at the same time help his own real estate projects such as King Crab Island attract potential buyers and provide mainland wealthy people with a new "immigration" option.
Although it seems like a redundant move, when the real super rich emerge in the mainland, they may be able to retain trillions of yuan in wealth over time. They are mainly competing for money from Singapore, and may also attract some multinational companies from Japan, South Korea, and Southeast Asia.
The global headquarters was relocated.
This group of high-net-worth individuals has astonishing spending power, and there is also an opportunity for them to hand over their assets to 5S asset management.
Just do it casually and kill several birds with one stone.
Such a good thing deserves Su Yehao to put a little thought into it, and besides, he doesn't need to worry about it. He can just use his words and leave it to his subordinates to take care of it.
It is different from Hong Kong cities where interests are too complicated.
The casino here is much simpler and purer. With Su Yehao's current influence, when he made the decision to promote tax reform, he had actually succeeded 70% to 80%.
After he and his father landed ashore, they made an appointment with some people to play golf at the Sihai International Golf Course, during which they promised to bring more family businesses back when the time came. The total tax amount within ten years would be no less than 10 billion Hong Kong dollars.
In this way, the possibility of success increases again by about 10%.
As long as we find some other large companies that are willing to relocate their headquarters and help with the platform, the platform is basically stable. We just need to continue to move around and discuss how to pass it during the meeting.
Of course.
You still need to talk to Beifang beforehand, say hello and explain the situation, and that's probably fine.
Anyway, the tax depression is not limited to gambling cities. Rather than flowing into the fields of outsiders, it is better to keep it in the hands of your own son. This account is simple and clear. I believe the north will only be happy to see the results.
As the old saying goes, it's better to clear things up than to block them.
There is no abandonment tax in the Mainland. If an entrepreneur is clean and wants to leave, there is no way to stop him.
When the casino really lowers the tax rate to a low level, it will have the opportunity to let the meat continue to rot in its own pot, which is better than taking it to tax havens such as Singapore and Switzerland.
After playing golf, I was sweating all over.
Su Yehao took a bath, changed clothes, and had a back massage with his father in the club. He said at this moment:
"The real super-rich will not be stupid enough to run to the United States. Places with inheritance taxes will only trap them. Whether the tax is high or not is more important to this group of people than the living environment. Anyway, they move to a certain place.
I don’t want to delay moving to another country to live in a place. Now I’m more worried that Hong Kong City will send someone to contact me. If Hong Kong City’s rich people come to the casino one after another, wouldn’t I be stirring up a hornet’s nest?”
"That's why I asked you to try not to stand out and trick a few people into standing up for you, isn't that enough?"
Father Su often sat still and his back and legs ached. He asked the massage girl to use more strength and continued:
"The tax in Hong Kong City is not high, no matter how low it is, it won't be much lower. Now that we have started to push forward, there is no point in discussing these. Don't forget, your father and I are still here. You can leave the rest of the things alone. I will follow up.
I’m here to stand up for you. You just expressed your attitude in person, and I think the news will spread soon, so I’ll take over just in time.”
Looking at his father, Su Yehao said happily: "That's okay, you are not as popular as me. When the time comes, let the team responsible for this work talk to you, and leave all the publicity work to you, father."
Father Su was slightly unhappy, groaned, and said:
"No matter how good you are, so what, he's still not my son? I find that you just think too much and don't do things neatly enough. But this is also a good thing. It's better than not using your head. In the future, other countries will have opinions.
Anyway, the gambling city is so poor that it relies on the gaming industry to make ends meet. Do they still dare to take action? Since they don’t send money to the casino, how can they have the nerve to stop us from being self-reliant? Why don’t we just put the money in our pockets?
The most important thing here..."
After thinking about it for a while, Su Yehao felt that his words were crude and not rude.
In the previous life, when a group of tax havens represented by Singapore attracted batches of mainland wealthy people, they showed no signs of mercy. They focused on this and that, blocking massive assets from the door.
Now it's just a matter of following the example, there is no need to pay attention to what others say.
If you have the ability to shut down all the tax havens and tax havens in the world and force a minimum tax rate, why else can others do it and the casinos can't make some money?
When I think of this.
Su Yehao no longer hesitated, and planned to find a time to go to Sijiu City in person to talk about this matter in person.
It happened that CITIC was the one who led the way, and someone from the Poly Group invited him to dinner. He probably sold a lot of kicks to Camels a few days ago. The money was left in the account, and he wanted 5S Asset Management to help take care of it for a while...