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    'Action needed' to curb tax havens

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    papa_umau
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    'Action needed' to curb tax havens

    Post by papa_umau on Mon 06 Nov 2017, 11:17 am

    The government must stop "dragging its feet" and curb the use of offshore tax havens, opposition politicians say.

    Their criticism comes after a leak of financial papers from Bermuda revealing the secret investments of the rich and famous, including the Queen.

    Sir Vince Cable said British overseas tax havens were a "bizarre anomaly", and Shadow Chancellor John McDonnell said people "would be outraged".

    Theresa May said work was already being done to raise revenues from tax havens.

    But at the CBI conference on Monday, the prime minister did not commit to a public inquiry into tax revenue lost through offshore tax havens.

    Get the full story from The BBC HERE




    While many governments have talked about taxing the rich in a more balanced way, here we see just as many  as before hiding their wealth in tax havens, INCLUDING THE QUEEN.

    The thing is that if most of this wealth is hidden in tax havens around the world, how can the inland revenue know how much money these people have that should be taxed.

    Yes, it is time that tax havens were sorted out as this festering sore has to the the greatest rip-off that has ever been perpetrated against the British people.


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    zathrus
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    Re: 'Action needed' to curb tax havens

    Post by zathrus on Thu 09 Nov 2017, 11:12 am

    Sorry Paps, but that is the understatement of the year.

    I have often thought that past governments, including Labour, have deliberately avoided closing the loopholes that allow the super-rich to get away with paying the tax they are due.

    The accountants, and government tax experts all know where these loopholes are, but for some reason they do not have the desire to close them.
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    papa_umau
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    Re: 'Action needed' to curb tax havens

    Post by papa_umau on Fri 10 Nov 2017, 11:48 am

    Actually Zathrus, there have been a lot of these "loopholes" closed in past years, but the clever tax accountants that are paid big money by the avoiders and the evaders are deft at finding new weaknesses in the tax laws.

    We need to be as good as they are so that our governments can get to the newest loopholes faster than the evaders can.

    Either that or all of the tax regulations need to be simplified and easy to see so that nobody is able to hoodwink the government so easily and so often.


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    Angie baby
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    Re: 'Action needed' to curb tax havens

    Post by Angie baby on Sat 11 Nov 2017, 11:46 am

    That, to me, would be the best thing to do: Simplify the tax rules so that we can all easily understand them and so that there are no loop-holes to close.
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    papa_umau
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    Re: 'Action needed' to curb tax havens

    Post by papa_umau on Sun 12 Nov 2017, 11:26 am

    Zathrus, that may certainly be the "understatement of the year" as you see it, but we take them for granted far too easily.

    We should be lobbying the government to tighten up the tax regulations so that no "loop-holes" are left to abuse.


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