Sponging Billionaires - Time we paid more tax

[SirGalahad]

https://www.theguardian.com/news/20...reveals-secrets-of-world-elites-hidden-wealth

As far as its been detailed what these companies and businesses are doing is legal.

The usual brigade will defend these large companies which implicitly means they want to be taxed more. There are companies making billions in tax and paying £0.

So stand up, those that defend these companies tax practices and want even lower taxation what you want is to be taxed more. So don't complain when you are.

 

[Bosswhite]

https://www.theguardian.com/news/20...reveals-secrets-of-world-elites-hidden-wealth

As far as its been detailed what these companies and businesses are doing is legal.

The usual brigade will defend these large companies which implicitly means they want to be taxed more. There are companies making billions in tax and paying £0.

So stand up, those that defend these companies tax practices and want even lower taxation what you want is to be taxed more. So don't complain when you are.

That is Treason !!!

Tax Avoidance is now accredited " By Royal Appointment"

The Queen has been caught loading her "pennies" to a Bermuda Off Shore Corporation

 

[Notch7]

Companies and rich individuals should all pay a fair amount of tax.

apart from the fact they can afford to pay, there is the issue that large corporations like Starbucks are gaining unfair financial adavantage, so small cafe owners struggle to compete.

I dont know enough about tax havens but I guess registering a company in a different country, like Malta makes if difficult to prevent low or zero corporation tax.

In one way we cant blame the companies if what they are doing is legal, since everybody wants to minimise tax (although clearly some operate on the edge of legal), I suppose we need to blame the system.

The bit about the Queen is a bit of a red herring -I dont suppose she had any involvement.

 

[Mottie]

It’s not the companies fault, it’s the system that allows it. Unfortunately it’s normally those that set the system that benefit from it!

Honestly though, if the options available to you were to continue paying tax as you have been paying or legally paying just a fraction of that amount, who would choose to pay the higher amount?

 

[SirGalahad]

It’s not the companies fault, it’s the system that allows it. Unfortunately it’s normally those that set the system that benefit from it!

Thats the point. These rich and influential people and companies set the system that they benefit from. The politicians are all in hock to it. So to defend it as being legal means that the system needs to be changed.

No I wouldnt expect anyone to pay more than what they are due but I don't get to set my own tax laws.

 

[SirGalahad]

unfair financial adavantage

Absolutely. But it expands to companies using this offshore dark money to bribe officials for mining rights in poorer counties which then leads rising local resentment.

difficult to prevent low or zero corporation tax.

Yes, but it takes two to tango, we have a tax system and transparency laws which allow that to happen.

I suppose we need to blame the system.

Yes. A system created by those who benefit from it.

The bit about the Queen is a bit of a red herring -I dont suppose she had any involvement.

Unless she made it explicit not to invest in anything offshore and was misled or badly advised.

 

[Bosswhite]

Companies and rich individuals should all pay a fair amount of tax.

apart from the fact they can afford to pay, there is the issue that large corporations like Starbucks are gaining unfair financial adavantage, so small cafe owners struggle to compete.

I dont know enough about tax havens but I guess registering a company in a different country, like Malta makes if difficult to prevent low or zero corporation tax.

In one way we cant blame the companies if what they are doing is legal, since everybody wants to minimise tax (although clearly some operate on the edge of legal), I suppose we need to blame the system.

The bit about the Queen is a bit of a red herring -I dont suppose she had any involvement.

£10 Million of the Queens private money is invested " Off Shore" are you saying she has no control over what happens to her " Pocket Money"

http://www.bbc.co.uk/news/uk-41876942

 

[SirGalahad]

£10 Million of the Queens private money is invested " Off Shore" are you saying she has no control over what happens to her " Pocket Money"

http://www.bbc.co.uk/news/uk-41876942

If she was on benefits and accidentally didn't declare earnings she would be sanctioned and possibly fined. As a rich person and a royal she is accorded the benefit of doubt that a poorer person would not be.

 

[SirGalahad]

https://www.theguardian.com/news/vi...es-in-toilets-to-avoid-questions-on-tax-video

Hes hiding in the mens toilets.

 

[Bodgitnscarper]

£10 Million of the Queens private money is invested " Off Shore" are you saying she has no control over what happens to her " Pocket Money"

http://www.bbc.co.uk/news/uk-41876942

If she was on benefits and accidentally didn't declare earnings she would be sanctioned and possibly fined. As a rich person and a royal she is accorded the benefit of doubt that a poorer person would not be.

“So the BBC #paradisepapers reporting is shocked that the Queen invests in a fund in a tax haven. Guess where the BBC pension fund invests?”

 

[Bodgitnscarper]

Interesting comments here....


https://mobile.twitter.com/DanNeidle/status/927258030563123200

 

[JohnD]

“So the BBC #paradisepapers reporting is shocked that the Queen invests in a fund in a tax haven. Guess where the BBC pension fund invests?”

your wording is unclear.

Are you saying that the BBC has expressed shock? When and where did you see that?

in the link you quote I see the words

"There is nothing illegal in the investments and no suggestion that the Queen is avoiding tax, but questions may be asked about whether the monarch should be investing offshore."

but not the words "shock" "shocked" or "shocking."

 

[JohnD]

does anyone agree that the people who put money into a tax haven to avoid paying tax should acknowledge the damage it does to society?

 

[SirGalahad]

“So the BBC #paradisepapers reporting is shocked that the Queen invests in a fund in a tax haven. Guess where the BBC pension fund invests?”

Has the BBC been implicated?

Looking at the list provided -

Bridgewater Pure Alpha Fund II, Ltd.

BRIDGEWATER PURE ALPHA FUNDS LTD.

Bridgewater Pure Alpha Trading Company II, Ltd.

BRIDGEWATER PURE ALPHA TRADING COMPANY LTD.

Bridgewater Real Asset Fund, Ltd.

Now if the BBC invests with Bridgewater Associates LP based in Connecticut is there investments routed via any of these vehicles?

I am not here defending the BBC but when you start your usual whataboutism it means you really have no argument other than deflection.

 

[SirGalahad]

https://www.bbc.co.uk/iplayer/episode/b09fgcvh/panorama-britains-offshore-secrets-exposed

So Apple paid less than 4% tax on its foreign earned income, and there are some on here who want them to pay even less.

The HMRC inspector put it best when he said you are subsidising the lifestyle of those engaged in these activities.