Random Legal Information

Definition of Round tripping: In lay man terms round tripping in respect of monetary terms, is the process whereby funds exit the country and subsequently re-enter at a later date. It is generally done in order to avoid taxation, duty or any kind of government surcharge upon them especially if they are earned through questionable means. Round tripping is undertaken by companies by agreeing to sell unused assets, which are at a later date purchased back at a similar rate and shown as investments. It provides no real economic benefit, it merely enhances the financial statements of a company to seem more lucrative. The Wall Street Slang for Round Tripping is “Lazy Susan” . Blacks Law Dictionary, defines round tripping as, “The strategy where a business will sell an asset and then want it back at a time in the future” [1] Law Lexicon defines Round Tripping as [2] , “On a futures market, the practice of buying and then selling the same investment, or vice versa. The ter