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It reminds me of tax law in many countries. You can follow the letter of the law, but if the vibes are off, you can still be found to be in breach of a vague ca
by steve_taylor 2mo ago
It reminds me of tax law in many countries. You can follow the letter of the law, but if the vibes are off, you can still be found to be in breach of a vague catch-all provision (e.g. economic substance doctorine in the US, GAAR in Canada/UK, Part IVA in Australia, etc).
- hahahaa 2mo agoUK has systematic tax avoidance IIRC i.e. keep starting and closing businesses to save tax is frowned upon. Australia can treat your capital gains as income if your gains quack like trades. (Maybe now less important since the recent CGT changes).
- ls612 2mo agoTo misquote Bismarck, only fools, drunks, and Americans actually believe the rule of law is real.