To avoid property taxes on empty buildings, landlords lease them to shell companies that set up sham mollusk farms. When local authorities challenge the tax exemption, the shell company declares insolvency, making the tax debt uncollectible and leaving the landlord unaccountable for the liability.
Despite positioning itself as an international and diverse hub, Hong Kong's legislature rejected a same-sex partnership bill. This signals that aligning with Beijing's more conservative values now takes precedence over maintaining its reputation for openness, especially under the 'patriots' governing system.
The US decision to sell its most advanced fighter jets to Saudi Arabia marks a significant shift in regional military dynamics. This move worries Israel, which relies on its technological military edge to maintain its status as a regional power, signaling a potential realignment of power in the Middle East.
A warm reception for Saudi Crown Prince Mohammed bin Salman marked his return from international isolation following the 2018 murder of Jamal Khashoggi. Trump publicly downplaying the incident helped burnish MBS's reputation and re-establish him as a major leader on the world stage after a period of being a 'pariah'.
A seemingly quirky tax dodge, like a snail farm in a London office, has far-reaching consequences. Because a large portion of local business rates goes to the national treasury, revenue lost from one wealthy council directly reduces funds available for essential services, like social care, in other parts of the country.