Should offshore account schemes for tax evasion be banned?

  1. sarahmoose profile image77
    sarahmooseposted 5 years ago

    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?

  2. StrategyCoaching profile image85
    StrategyCoachingposted 5 years ago

    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.

  3. Mark C Middleton profile image62
    Mark C Middletonposted 5 years ago

    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).