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    What about tax havens then ?

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    papa_umau
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    What about tax havens then ?

    Post by papa_umau on Mon 25 Jan 2016, 12:45 pm

    After we have heard that many of the massive companies out there have avoided paying tax because of their tax status in Britain do you think that it is past time that our government should finally and at last close the holes in the taxation rules that make it so easy for these giants to get out of paying their dues.

    Here's what Boris Johnson thinks about this from Sky News.




    Well, do you agree with him and do you think that the problem is not with these tax-avoiders but with the taxation rules ?

    If you do, what do you think should be done about it.


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    zathrus
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    Re: What about tax havens then ?

    Post by zathrus on Wed 27 Jan 2016, 11:20 am

    On this occasion I do have to agree with Boris as it is the government that makes the rules that these companies can flout.

    If the loop-holes were not there the taxation rules would not be so easily breached.

    I believe that so long as no laws are broken it is fair that anybody can avoid paying taxes.
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    papa_umau
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    Re: What about tax havens then ?

    Post by papa_umau on Thu 28 Jan 2016, 1:12 pm

    The two terms are "tax evasion", ( illegal ), and "tax avoidance", ( legal ), but what needs to happen is that the "avoidance" rules need tightening up and the "evasion" rules need to be enforced better.


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    zathrus
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    Re: What about tax havens then ?

    Post by zathrus on Fri 29 Jan 2016, 2:53 pm

    I would certainly agree with that Paps, but do you know of any government or political party that could guarantee that could happen ?

    Many governments have tried and failed to close all of those loop-holes and I do not think that even a left-wing government might get it right either.
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    Angie baby
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    Re: What about tax havens then ?

    Post by Angie baby on Sun 31 Jan 2016, 12:48 pm

    I think that is why the tax laws in Britain are so complicated.

    They are complicated because only the best and most expensive of the accountants are able to understand them and get the best out of them.

    Of course this avenue of approach to taxation is not available to the ordinary man or woman.
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    papa_umau
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    Re: What about tax havens then ?

    Post by papa_umau on Wed 10 Feb 2016, 11:16 am

    I think that is the exact problem here, as it is only the big companies trading across the world that can get the use of tax havens.

    The rest of us, and a few smaller businesses are stuck with PAYE taxation. ( More about this tax system HERE .)

    Even our closest neighbours like Ireland, The Isle of man, and Guernsy have been used as tax havens for many years.

    Some good news is that Ireland are set to finally close the notorious "Double Irish" tax loophole.

    More about this loophole from the Fortune website HERE

    If the taxation systems were to be made much simpler the friends of the Tories, in big business, would not be able to escape paying what they are due and a lot of highly-paid accountants would be put out of the game.


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    Hell's Granny
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    Re: What about tax havens then ?

    Post by Hell's Granny on Sat 13 Feb 2016, 4:51 pm

    Watch 'The Town that took on The Tax Man'. It's on IPlayer for about another 14 days and shows a Welsh town setting up as a Multi National Corporation. It is very interesting.
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    papa_umau
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    Re: What about tax havens then ?

    Post by papa_umau on Sun 14 Feb 2016, 1:50 pm

    Saw it.... That town started to behave just like a big corporation and because of this fact it became able to do what the big corporations can do about taxation.

    Individually, we are just swallowed up by the taxation laws.

    It would be very hard to apply that technique in every small town in Britain.


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