@_DavidQuentin Why less? Is it obvious that all the t. prices 4 intl aspects of the biz (e.g. core tech, contracts) wld result in less risk?
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@MForstater no, relates to both - there is no vertical drop! (no real world tax advice would deliberately create tax risk without an upside)
@_DavidQuentin Deciding to operate single billing hub creates the drop (PE risk) moving to lux creates advantage (but doesnt effect risk)
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@MForstater tax will have permeated the structuring; not realistic to suppose prior decision to operate extra-jurisdictional transctn entity -
@_DavidQuentin sur, but biz reasons too for 1 EU transaction hub rather than 28! not sure such a clear graph can be drawn 4 complex intl biz
End of conversation
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