Need a non-trading related advice.

[AlexDFN]

Hello everyone!

I am a legal U.S. resident successfully running few businesses including online and offline.

Yesterday I was contacted by one of my close friends who has established huge business in Italy selling medical equipment to Russians. To avoid Italian taxation he is looking to transfer money to the United States then get it back to his offshore account.

The question is how to avoid trouble on my end if I receive the money and send it over to an offshore account? We are both ready to sign any kind of contracts but would that make our deal legal in terms of U.S. laws ...

Need your advice guys and even ready to pay for it !

 

[tomorton]

A contract to carry out an unlawful act cannot be enforced through the law.

 

[scose-no-doubt]

You want to sign a contract stating your willingness to engage in cross jurisdictional tax evasion?

Why does he need to send the money into the US first? Surely if he wants to swerve Italian tax he could just send is money offshore in the first instance and then turn ghost on Berlusconi?

Edit: Had a bit of time to think and while I'm no lawyer I reckon that no matter how you dress it up there will always be a case for money laundering. You'd have to get a good lawyer who understands international and cross jurisdictional transactions and disclosure requirements & international money laundering i.e. your liability in US vs action taken by Italy.
Between me and you, I hypothesize that the fingers crossed method is probably the most common.

 

[Pazienza]

Hello everyone!

I am a legal U.S. resident successfully running few businesses including online and offline.

Yesterday I was contacted by one of my close friends who has established huge business in Italy selling medical equipment to Russians. To avoid Italian taxation he is looking to transfer money to the United States then get it back to his offshore account.

The question is how to avoid trouble on my end if I receive the money and send it over to an offshore account? We are both ready to sign any kind of contracts but would that make our deal legal in terms of U.S. laws ...

Need your advice guys and even ready to pay for it !

Your friend is in Italy and he wants to know how to avoid Italian taxes? Assuming this question is not a wind up / prelude to a scam, here's what he needs to do:

1. Have a brief chat with pretty much anybody who isn't either a foreigner or a special prosecutor - they will be able to point you in the right direction.

2. Pay some fairly small bribes.

3. Enjoy a largely tax-free income.

 

[marbig]

Hello everyone!

To avoid Italian taxation he is looking to transfer money to the United States then get it back to his offshore account.

The question is how to avoid trouble on my end if I receive the money and send it over to an offshore account? !

HE is transferring money from Italy to USA

YOU (an American citizen) are transferring funds from the USA to an offshore account for payment to shadowy Russians.

Which one is the idiot that will get caught almost instantly for money laundering by the US authorities ? Dumb-ass.

 

[marbig]

You want to sign a contract stating your willingness to engage in cross jurisdictional tax evasion?

.

Yes he does. Some people are just hopeless

 

[marbig]

Need your advice guys and even ready to pay for it !

And you got your advice for FREE.