Casino's total fiscal revenue last year exceeded 14 billion, with the gaming industry contributing nearly 10 billion.

The Su family, father and son, also made some contributions, but the majority of their tax payments weren't handed over to Casino.

Su Yehao's companies are mainly registered in tax havens like the Cayman Islands and Bermuda, or in Hong Kong or the mainland.

Furthermore, with almost all of them operating at a loss on paper, and enjoying tax incentives up north, their tax contributions aren't particularly high.

On the contrary, their business in the United States faces considerable pressure.

Litigation costs, the hiring of financial firms, hidden expenses—all this adds up, significantly increasing the burden. There aren't any preferential policies for high-tech companies, either, resulting in a relatively high effective tax rate.

No wonder it's often said that companies like Apple like to hide their overseas income in tax havens. As long as they don't bring it back to the United States, they don't have to pay taxes for the time being. Almost all multinational corporations are trying to find loopholes, and the wealthy are no different.

Family charitable trusts, for example, are often established to avoid estate taxes. They only need to donate about 5% of their total assets each year, and the money is essentially transferred from one pocket to another, ultimately remaining under their control.

This is how we see phenomena like the Rockefeller family fund, which has been donating for decades, yet the money in the charitable fund only continues to grow.

Therefore, unless someone throws out real money, don't believe a word about being a philanthropist or giving back to society. They simply don't want to give half their assets to taxes.

In terms of per capita income.

Casino isn't exactly wealthy. It will probably take a few more years of accumulation for qualitative change to occur.

The Sihai Casino Hotel, Sands Casino Hotel, and Grand Lisboa Casino Hotel are all under construction, so they aren't yet helping to attract tourists. The number of local enterprises is also extremely small, so it would be strange if the local economy were rich. It can't compare with Hong Kong.

Presumably because of these tight finances, Casino is indeed seriously considering a tax reform proposal.

If they could attract some wealthy individuals and multinational corporations with a "fishing without bait" strategy, even if the tax revenue is slightly lower, it would be better than nothing.

This would not only generate some revenue but also stimulate employment, boost consumption, and enhance Casino's influence—a win-win situation. Many places are scrambling to do this; you can't get money if you're unwilling to put yourself out there.

Casino has a small population and low expenses, so it doesn't need a very high tax rate for its residents to live comfortably.

Su Yehao's active promotion is mainly for his own benefit.

He hopes to make his "base camp" more comfortable and to attract potential buyers to his own real estate projects, such as Emperor Crab Island, providing mainland tycoons with a new "immigration" option.

It might seem like overkill, but when true super-rich individuals emerge in the mainland, it might be possible to intercept trillions of RMB worth of wealth over time. This primarily involves competing with Singapore for money. It might also attract multinational corporations from Japan, South Korea, and Southeast Asia to relocate their global headquarters.

This segment of high-net-worth individuals has enormous spending power. Additionally, there's an opportunity to have them entrust their assets to 5s Asset Management.

Killing several birds with one stone.

Such a good thing is worth Su Yehao putting in a little effort. Moreover, he doesn't need to worry about it himself; he can just delegate it to his subordinates to handle.

Unlike Hong Kong, where interests are overly complicated.

Casino is much simpler and purer. With Su Yehao's current influence, when he decides to promote tax reform, it's already 70% or 80% successful.

After he and his father came ashore, they invited some people to play golf at the Sihai International Golf Course. During this time, he promised to relocate more family businesses back, with a total tax payment of no less than 10 billion Hong Kong dollars within ten years.

As a result, the probability of success increased by another 10% or so.

As long as some large companies willing to relocate their headquarters are found to help support the effort, it's basically a done deal, waiting only for continued networking and discussions on how to pass it during meetings.

Of course.

It's also necessary to inform the authorities up north in advance and explain the situation. This shouldn't be a problem.

After all, Casino isn't the only tax haven. Instead of letting the wealth flow into the hands of outsiders, it's better to keep it in the hands of one's own son. This is a simple and clear calculation, and I believe the authorities up north will be happy to see it happen.

As the old saying goes, it's better to dredge than to block.

The mainland doesn't have an exit tax. If an entrepreneur has a clean record and really wants to leave, there's no way to stop them.

When Casino really lowers its tax rate to a low level, there's a chance to keep the meat rotting in its own pot, which is better than taking it to tax havens like Singapore and Switzerland.

After playing golf, Su Yehao was covered in sweat.

After taking a bath and changing clothes, he and his father had a foot massage in the club. He said:

"The real super-rich wouldn't be foolish enough to run to the United States. Estate taxes will only trap them. Whether taxes are high or not is more important to these people than the living environment. Anyway, moving to a certain place doesn't prevent them from traveling to different countries. I'm more worried that Hong Kong will send someone to contact me. If Hong Kong tycoons flock to Casino, wouldn't I be stirring up a hornet's nest?"

"That's why I told you to avoid taking the lead as much as possible. Just trick a few people into coming forward on your behalf, and that's it."

Su's father often sits still and suffers from sore backs and legs, so he told the masseuse to use a little more force and continued:

"Hong Kong's taxes aren't high, and they can't go much lower. Since you've already started promoting it, there's no point in discussing this anymore. Don't forget, your dad is still here. Don't worry about the rest. I'll come forward on your behalf later. You just personally expressed your attitude, and the news will probably spread quickly. It's perfect for me to take over."

Looking at his father, Su Yehao said happily, "That's fine too. You're not as high-profile as I am. Just have the team responsible for this area talk to you. Let Dad handle all the public appearances."

Su's father was slightly displeased, grunted, and said:

"No matter how well you do, what does it matter? You're still my son. I've noticed that you think too much and aren't decisive enough in your actions, but that's a good thing. It's better than not thinking at all. What if other countries have opinions in the future? Anyway, Casino is dirt poor and relies on the gaming industry to make a living. Are they going to take action? Since they're not sending money to Casino, how can they have the nerve to stop us from being self-reliant? Screw them, the most important thing is to put the money in our pockets..."

After thinking about it slightly, Su Yehao felt that the words were rough but reasonable.

When a group of tax havens, represented by Singapore, attracted batches of mainland tycoons in his previous life, they weren't soft-hearted or considerate, blocking massive assets from their doorstep.

Now it's just following suit, so there's no need to pay attention to what others say.

If you have the ability, shut down all the tax havens and tax ports in the world and forcibly set a minimum tax rate, otherwise, why can others do it, but Casino can't make some money?

Thinking about this.

Su Yehao stopped dwelling on it and prepared to take a trip to Beijing soon to discuss the matter in person.

Coincidentally, with CITIC acting as an intermediary, someone from Poly Group had invited him to dinner, probably because they had sold a lot of fireworks to Camel a few days ago. The money was just sitting in the account, so they wanted 5s Asset Management to manage it for a while...