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Opis
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(Open Prepress Interface) An extension to PostScript that provides color separations. It was developed by Aldus Corporation, which was later acquired by Adobe.
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Investopedia Financial Dictionary:
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Offshore Portfolio Investment Strategy - OPIS
A tax shelter product designed to create large, seemingly real losses to be used for tax sheltering. This tax shelter involves creating a shell company, which enters into a long chain of sophisticated and complex financial investments. These investments usually create fake accounting losses that are more than 100 times larger than the real financial loss. Ultimately, these large losses are then used to offset legitimate capital gains, allowing the tax shelter's creators to pay less tax.
Investopedia Says:
OPIS represents only one of the many unethical tax shelter products that were used in the late 1990s. As these abusive strategies became more and more popular, the IRS started to perform audits on those using this strategy in order to dissuade its use.
By the time the IRS took action, millions, if not billions, of tax dollars were being defrauded. For example, one OPIS user spent about $550,000 to create a fake accounting loss of $60 million. Although the use of OPIS was eventually stopped, other unethical tax sheltering strategies, such as bond linked issue premium structures (BLIPS), emerged to take its place.
Related Links:
Tax loopholes are shrinking, but there are still plenty of viable prospects. Get the big picture. Pros And Cons Of Offshore Investing
We give you seven guidelines to help you keep more of your money in your pocket. Tax Tips For The Individual Investor
Keeping thorough records and knowing the penalties make this experience easier than you'd expect. Surviving The IRS Audit
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For other uses, see Opis (disambiguation).
Opis (Akkadian Upî or Upija; Greek: Ὦπις) was an ancient Babylonian city on the Tigris, not far from modern Baghdad. The precise location of Opis has not been established, but from the Akkadian and Greek texts, it was located on the east bank of the Tigris, near the Diyala River.
History
Opis is mentioned for the first time at the beginning of second millennium BCE. In the 14th century BCE, it became the capital of an administrative region in Babylonia.
The Babylonians dug the "royal canal" between the Euphrates and the Tigris, which ended near Opis. Nebuchadnezzar built a wall between the two rivers to protect his country from a Median invasion, which also ended near Opis.
In October 539 BCE, Nabonidus defended Opis against the Persian Empire commanded by Cyrus the Great. The Babylonians were defeated and the native population revolted against its government. Without further fighting, Cyrus captured Babylon. Opis was included on the Persian Royal Road, which connected Elam's capital Susa with the Assyrian heartland and—later—the Lydian capital Sardis.
- Macedonian Conquest
In September 331 BCE, Macedonian Alexander the Great defeated Darius III of Persia at the Battle of Gaugamela, and probably took possession of Opis about the same time as Babylon. A few years later, Alexander was forced by a mutiny at the Hyphasis (now Beas) River to return from the long campaign in India, and European soldiers revolted again at Opis (autumn 324 BCE). In an attempt to craft a lasting harmony between his Macedonian and Persian subjects, he took an oath of unity before 9,000 Persian and Greek soldiers at Opis, he married Statira (the daughter of Darius) and held a mass marriage of his senior officers to Persian and other noblewomen at Susa just prior to coming to Opis.
- Hellenic Rule
Seleucus I Nicator, one of Alexander's Diadochi, founded the Seleucid Empire and built his capital Seleucia on the Tigris on the western bank of the river opposite Opis.
In the 2nd century, the Parthian Empire conquered the Seleucid Empire, including these sister cities. However, the Roman historian Tacitus informs us that in the 1st century CE, Greek and native inhabitants still had institutions of their own.
In the 2nd century CE, the Parthians moved their regional capital from Seleucia to the eastern bank, and renamed Opis to Ctesiphon.
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