Rupert Murdoch's Tax Two-Step

Australian journalist Neil Chenoweth has revealed that Rupert Murdoch "sidestepped stamp duty of $A53 million [U.S.$41.3m] and capital gains tax of up to $A1.2 billion [U.S.$936m] by moving control of his ultimate family company, Kayarem, to the Caribbean and listing it on the Bermuda Stock Exchange (BSE) a week before News Corporation was reincorporated in the United States last November.

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