Entertainment World: The Wild God of Gourmet

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As the old saying goes, antiques in prosperous times, gold in troubled times.

There are more than 60 countries in the world conducting art auction business, but only the three giants of the auction industry: the United States, China and the United Kingdom, the market size accounts for 875% of the global art market, resulting in a total global transaction of 16 billion US dollars $14 billion of that.

The largest market is the United States, which accounts for 38% of the global transactions with only 12% of the transaction batches.

As for the auction industry, the emphasis is on the ultimate collection, and high-end buyers, in fact, the competition is still the accumulation of the industry. New York is the center of American culture, art, music and publishing. Many museums, research institutions and art centers, the three major American radio and television networks and some influential newspapers, news agencies, art galleries, libraries, and scientific research headquarters are all located here.

There are a wide range of art investment and financing channels here, not only in the two giants, but also banks in the United States, banking institutions such as JPMorgan Chase and even major commercial firms. The New York market can occupy the top spot in the global art market for a long time, which is inseparable from its status as a global financial center.

Sotheby's insisted on holding the auction here in New York precisely because art auctions in the United States can often fetch sky-high prices.

This is also the reason why Chen Ergou agreed to come to the United States knowing that the taxes in the United States are high.

The auction has ended, but there are still some procedures to go - the transfer of the subject matter of the auction and the taxes and fees that should be paid!

After paying Sotheby's 8% commission, paying auctioneers, legal and appraisal experts, there is still 4.6 billion US dollars left! The money seems huge, but not all of it belongs to Chen Ergou.

"Tax ~"

There are tax incentives for art auctions in New York, but they are still not cheap. Chen Ergou needs to go through various tax procedures if he wants to take the 4.6 billion US dollars away, and the situation is quite complicated. Even a native American can't necessarily figure out how much tax he has to pay.

He asked someone, and according to the requirements of the "territorial principle" of taxation: the taxation power of any country cannot invade the territory of other countries, that is, it cannot levy taxes on income or business activities that occur in other countries. However, there is an unquestionable right to tax the business activities and various income obtained by legal persons or individuals in other countries within the territory of their own country.

In other words, for this amount, he needs to pay taxes in the United States.

If you bring it back to China, it belongs to the income obtained from abroad, and you should also declare and pay taxes. However, the tax already paid abroad can be offset against the domestic declaration amount. That is to say,

The tax burden abroad is high, so you don’t have to pay tax when you return to China. If the foreign tax burden is low, you have to pay the difference.

Fortunately, there is still more than half a year before tax day, during this half year.

In this case, the best option is to invest directly in the United States. There are many preferential policies that can be adopted for investment tax credits. He needs to spend as much money as possible, and the more he spends, the less pressure he will have to file taxes.

For specific operations, a professional tax team is needed to help make suggestions.

At yesterday's hotel banquet, Chen Ergou had already dismissed various banking institutions, taxation agencies, and even people from the CAA brokerage company came to him.

Chen Ergou also considered this problem early.

The "Reservoir Dogs Investment Fund" he asked Buckley Tang to help set up was to deal with the current situation. Now that the funds are in place, it's time to start.

"The company is registered in the Cayman Islands. This is the legal counsel I specially screened for you according to your request, Donnie Jann." Buckley introduced a middle-aged man.

This gentleman looks very simple and honest, his round face has two dimples when he smiles, and he has a beer belly. The person is only middle-aged, his hair is already a little gray, and there are obvious traces of "Mediterranean".

He was wearing a large black suit with many wrinkles, but the shirt inside was a brand new shirt. With a shy smile on his face, he looked at Chen Ergou expectantly.

Downey is now worrying about gains and losses, so he is naturally no stranger to the person in front of him.

To put it bluntly, I am afraid that within today, this young Chinese man in front of him should be the person with the most headlines in the world. Thinking about the news reports he saw this morning, he still couldn't help being envious.

Regarding yesterday's auction, although not so many reporters came, the media news was very well-informed, and all the reports knew the scene like the back of their hands, fully reflecting the ups and downs of the auction process during the auction.

Including "New York Times", "Los Angeles Times", "Washington Post", "The Sun", "The Times", "Nippon Reading News", "Agence France-Presse", "Xinhua News Agency"...and other big media , all scrambling to report——

"The mysterious pirate treasure that has been hyped for more than half a month was auctioned at the Hilton Hotel in New York yesterday. Including gemstones previously discovered in the Congo Basin at Barbosa and environmental treasures in the Caribbean Sea, the total auction price was as high as 500 million U.S. dollars !"

"Especially during the finale treasure auction, Spain, France, London, New York art financial consortium, Middle East investors, etc. participated in the bidding, and once raised the price to a height of 300 million, creating Sotheby's The highest price record for a single product in the auction history. It was written into the Guinness Book of World Records."

"The Dubai Emirates Investment Group, the final buyer, won the final victory. Maktoum Ahmad, the person in charge, announced that this treasure of Barbosa will be specially built in a large nautical museum section in the Dubai Emirates Museum. Tourists from all over the world can appreciate the island style in the age of great voyage.”

"A new billionaire was born, and hero-chen, an adventurer from China, became famous overnight. He promised to use part of this huge wealth to invest in charity, environmental protection, education, etc."

...

All kinds of descriptions are just a small part of the newspaper.

Fortunately, Chen Ergou was not bloated, and even declined Wang Congcong's invitation to go to a nightclub to have a good time, and started working early the next morning.

Barkley-Tang also couldn't understand why Chen Ergou made such a request for employment: "You don't need to be too smart, it's better to be those who are sincere, honest, principled but depressed. You don't need to be proficient in business ability, but You must be able to faithfully carry out the orders of your employer."

These are the original words of Chen Ergou. Buckley has invested all his life, and he has never seen such employment requirements. "Sincere, honest, and principled" is fine, but if he wants to hire a subordinate who is only obedient and cannot give any investment advice, he can find it anywhere. Why do he need the most expensive lawyer?

Chen Ergou checked Downey's information. There is a daughter in the family who suffers from congenital heart disease. The current marital status is divorced, his wife ran away with the fitness trainer, and he is working independently to take care of his daughter. But because he was unwilling to cooperate with the law firm in a joint agreement, he was excluded by his peers.

"Thanks Barkley."

When Chen Ergou arrived, he turned to Donny Jane and said, "Mr. Jane, I am willing to hire you. You have a trial period of half a year. During this period, if I feel that the cooperation with each other is not pleasant, I have the right to terminate the contract at any time." , the right to explain is mine. Do you accept it?"

"Thank you, boss, I need this job."

At least the attitude is good, Chen Ergou said: "Your first task is to make a reasonable tax avoidance plan for me."

"No problem~"

As for the investment plan, Chen Ergou has a plan in mind. He even invited Barkley and Wang Congcong and asked them if they wanted to join forces and make a fortune together. The former declined, but the latter didn't care at all. Wang Congcong has his own set of philosophies about when it is the turn of others to lead the investment in Wanda. And the roots are all domestic. Although many investments are not so amazing, at least they have not lost money.

"Don't regret it when the time comes~" Chen Ergou pretended to be threatening.

Despised by Wang Congcong, "It's a joke, I have never regretted it in my life."

Chen Ergou didn't take it seriously, and explained some things to Xia Meng and Downey, asking them to collect some relevant investment information that he liked, and at the same time, buy an entertainment animation software company.

And with the material of this auction, his personal treasure hunting documentary can finally complete the final production, just waiting for the publicity release.

Chen Ergou has nothing to do and can finally return to China.