Paradise Papers

[smegballs]

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[Val]

Not sure about moral. Potato-potatou.

But sure as hell is not fair. Cause most people don't have that nice opportunity to safe on taxes.

Means in order to be fair lets ban all offshore tax havens. Not to mention all criminal moneys from drugs, illegal arms dealing,slavery and prostitution are going there.

Probably the main reason why tax criminals financed Brexit:

[M.C]

[-]

[Rogerborg]

[The Shaggy D.A.]

[Itchy]

[oldpink]

lots of every day "Normal" people can save on their taxes if you follow the rules and claim for everything you can
most people just pay without looking to see if they can claim rebates

though in one way or another every time you spend money you are paying a tax
whether its VAT or Import Duty added to your purchases
Council tax, Bedroom Tax, road tax

two things you can try to avoid but it will always catch up
Death + Taxes
____________________
I have become comfortably numb

Theory & hazard 24-may 2016, CBT 8th June 2016, MOD 1 2nd Aug 2016 Mod 2 2nd-Nov 2016 - Current bike CBR 600 RR

[JonB]

[M.C]

[oldpink]

Yeah £60 a year

if your self employed you can claim of all sorts of things
Fuel tax travel expenses etc
buy a company vehicle (CBR 600RR)
if you have a dog its a watchdog protecting your business security claim vets bills and food etc
CCTV camera's to protect your assets business property and help your Ins on said company vehicle
Make sure your tax code is correct and your claiming every break your entitled to
no different than Apple or Starbucks

I've worked for company's that were set in the Seychelles
they bought me a Ninja 636 on a company loan in to keep me with them
the business was all internet based and had no actual office as such just a PO box address and a bank account No
these days its a bit more strict though
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I have become comfortably numb

Theory & hazard 24-may 2016, CBT 8th June 2016, MOD 1 2nd Aug 2016 Mod 2 2nd-Nov 2016 - Current bike CBR 600 RR

[M.C]

[arry]

[Sun Wukong]

Another perspective…

"Over the weekend, we witnessed the release of the “Paradise Papers.” This was another gigantic leak of financial records (similar to last year’s “Panama Papers”) which shows how clients of a Bermuda law firm have legally used foreign corporate and trust structures for privacy and tax mitigation.

Among the names unearthed so far are Madonna, U2’s Bono, actress Keira Knightley, Formula 1 star Lewis Hamilton, Queen Elizabeth II, and US Commerce Secretary Wilbur Ross.

And the public is outraged.

The basis of this outrage is that rich and powerful people are ‘hiding’ trillions of dollars in offshore tax havens like Switzerland and the Cayman Islands.

Journalists estimate the size of this offshore treasure trove to be between $10 trillion and $32 trillion.

Yet there’s absolutely no rational basis to support these assertions whatsoever.

Consider that the ENTIRE banking system in Switzerland holds just $1.5 trillion in customer deposits.

In the Cayman Islands, non-resident customers hold less than $100 billion in deposits.

Jersey, one of the Channel Islands, has only $60 billion from non-resident depositors.

Bermuda, at the center of the most recent data leak, has an entire banking system worth just $19.2 billion.

And despite all the whining about Ireland as an offshore tax haven (despite a corporate rate of 12.5%), the country’s entire banking system has less than $200 billion.

Point is-- even if you assume that literally ONE HUNDRED PERCENT of the deposits in these countries are tied to tax evasion (which is obviously ridiculous), it doesn’t come anywhere close to the estimates the media keep reciting.

But no one ever questions the premise.

Everyone seems to believe in this myth that there’s tens of trillions of dollars hidden away evading taxes, even though all the data shows that this assertion is baseless.

Another basis of the public’s outrage is a belief that the clients of this Bermuda law firm were able to reduce their tax bills in ways that are only available to the ‘rich and powerful’.

Again, this is complete nonsense.

First off, EVERYONE has ways they reduce their tax bills.

People do this all the time… whether it’s shopping at a duty-free store or out-of-state to avoid sales tax, or perhaps holding an investment just a little bit longer before selling (in order to pay long-term capital gains, instead of the higher rate for short-term gains).

And these are all perfectly legal.

But for some reason when a rich guy does perfectly legal things to reduce his/her tax bill, the public is outraged.

Second, you don’t have to be rich or powerful or famous to set up a structure overseas.

Establishing a foreign company often costs less than $1,000-- hardly a billionaire’s price tag.

Most importantly, the public is outraged even though everything these rich folks are doing is completely legal.

The articles I’ve been reading about the Paradise Papers begrudgingly state that it’s completely legal to establish a foreign company to pay less tax.

And it is. Rational people take whatever reasonable, legal steps they can to reduce what they owe.

But people don’t like it. They feel that it’s ‘unfair’ for wealthy people to be able to slash their tax bills.

Yet according to individual income tax statistics published by the Internal Revenue Service, the top 3% of taxpayers in the United States pay more tax than everyone else in the country combined.

That’s already a pretty disproportionate ratio. Yet these angry socialists want top taxpayers to pay even more.

They seem to feel entitled to other people’s property and to put their hands in other people’s pockets.

It makes me wonder-- how much more would be enough? When does it stop?

If the public has a say over what someone else can legally do with his/her private property, perhaps we’re all entitled to sleep in Wilbur Ross’s house, or to take Bono’s Lamborghini out for a drive.

Again, the amazing thing here is that taking steps to reduce your taxes is completely legal.

What’s NOT legal is stealing private financial records from a law firm… which is exactly what a bunch of journalists did in order to publish the Paradise Papers.

But that criminality is not part of the discussion. And no public figure will dare call them out over it.

The only acceptable thing to say anymore is rich people = bad. Everyone else = good.

This is class warfare, plain and simple. People are out for blood once again. And it’s only the beginning"

Sovereign Man
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Top cat
"Hard times lead to hard people. Hard people lead to good times. Good times lead to weak people. Weak people lead to hard times." Smegballs
"Oh and STE balloons would be one of the nicer things we would receive at the office, the amount of dog turd in jiffy bags is not funny." Jsmith86

[Itchy]

[ScaredyCat]

[Rogerborg]

Something to bear in mind is that wombyn get pension sense-of-entitlement credits while claiming baby farmer benefit. So Mrs B has to keep claiming it even though I get it clawed back out of my pocket come tax time.

That's just the tip of the messed up swings-and-roundabouts system that seems designed largely to keep accountants and state employees in a "job".

Lulz, I presented "Bernie Sander's'" flat rate, zero loopholes business tax plans to the office SJW, and he fully endorsed them as fair and just until I revealed that's the Trump plan. His face soured all the milk in the kitchen (not a taxable benefit).
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[Kawasaki Jimbo]

[chris-red]

Most of the stuff in Panorama I doubt was legal, at the best it is questionable.


The main method seemed to be...

Person does a job.
Gets paid to a company registered abroad with little/no tax.
Company 'Loans' the person money. (Tax Free)
Loan is not paid back.


That can't be legal.
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Well, you know what they say. If you want to save the world, you have to push a few old ladies down the stairs.
Skudd:- Perhaps she just thinks you are a window licker and is being nice just in case she becomes another Jill Dando.
WANTED:- Fujinon (Fuji) M42 (Screw on) lenses, let me know if you have anything.

[Rogerborg]

[Itchy]

[Itchy]

[Rogerborg]

[Pjay]

I'm all for legal tax avoidance.
People even married to pay less tax. The Scum.
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struan80 - I'll go first - satisfied tick 1

[M.C]