Should offshore account schemes for tax evasion be banned?
With the admission of Jimmy Carr that he has used legal tax evasion schemes, and the subsequent criticism from David Cameron, does the government now need to be more strict about these offshore account schemes? And do you believe that the likes of Cameron should be more open about their financial investments?
You know, being on both sides of the "tax" fence (being an individual tax payer AND a business owner), I feel that we should be transparent and should not allow tax evasion. That being said, I also believe that we should fix our tax system, because all the business like my own, are getting ripped new holes that just shouldn't exist. Which only furthers my resolve that tax evasion shouldn't be allowed, as that doesn't make it any easier for positive businesses. Still though, a lot of our B&O taxes are not going to the people, to our infrastructure, to the kids or to anything truthfully beneficial to us, our country or our world - most of it, is going to WARS, government non-sense and political pay checks.
So yes, tax evasion should be completely banned - though it cannot be done without also fixing the taxation system.
For clarification, in general, tax evasion IS illegal, tax avoidance is what you are referring to, which is not illegal. Unfortunately, as long as you have complex tax laws you will always have experts at developing ways to avoid income tax. I believe that a simpler consumption (federal sales tax) tax would work better for Individuals. That way all would contribute to paying taxes and sales tax is much harder to avoid or evade. This would be combined with a continued tax structure for all businesses (but simpler).
by KyleBear 7 years ago
Tax evasion is a numbers game. Let's take the hypothetical example of a braying young aristocrat who has an unearned income of £100,000 per year, this money being accrued through an offshore trust fund that his over-privileged mummy and daddy set up for him when he was born.Now, let's say this...
by AnnCee 7 years ago
#1 Once Japan's corporate tax rate goes down in April, the United States will have the the highest corporate tax rate in the developed world.#2 In the United States, the corporate tax rate is 35 percent. In Ireland, it is only 12.5 percent. Needless to say, hundreds of American...
by Leslie McCowen 7 years ago
http://blog.buzzflash.com/node/12711Can we PLEASE stop pretending now that they care one whit for America?And can you PLEASE stop telling us what great Americans the Koch-Su*kers are!It's about as clear as the cellulite on Rove and Rush's butt.
by matchpost 4 months ago
I got banned from Hubpages because of violations. I agree with the mistake, I did. But now I want to join HubPages back. I am sure that I will not repeat the same mistake again. What is the possible way to get back to HubPages and start making money again?
by CaribeM 8 years ago
The recent events in the Gulf after the explosion of the Deepwater Horizon, reminds us again that offshore oil drilling is too dangerous for marine ecosystems and coastal communities and economies, I think it should not be allowed. Much less in such a corporative culture where there is no ethics,...
by Kind Regards 8 years ago
What are the specific tax advantages to having an offshore bank account?
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