“Because this was Venice, the police came by boat.”
"
They departed, the gods, on the day of the strange tide."
In the classic Ayn Rand novel Atlas Shrugged, the rich go “on strike” – withdrawing their services and disappearing from society in protest against taxes and regulation. Weary of carrying an ungrateful world on their shoulders, business leaders and other top income earners finally shrug, and leave the world without them.
If you tax the rich, they won't leave: US data contradicts millionaires' threats
Congress
is still scrambling to find ways to pay for its tax cut, so perhaps it
should pay closer attention to last month’s news that George Soros had
transferred $18 billion of his fortune to a private charity that he
controls. There it will be sheltered from the Internal Revenue Service
forever. This may be the single biggest tax dodge in U.S. history, yet
no one on the right or left seems to have raised an eyebrow.
True
tax reform is predicated on the principle that all income should be
taxed at a low rate once, and only once. But much of the wealth that Mr.
Soros spent years moving into his Open Society Foundations will never
be taxed. A gift of billions of dollars of appreciated stock escapes
any capital gains tax, and the estate tax as well. So Mr. Soros can
donate appreciated stock that Open Society Foundations can liquidate
without the government ever taking a cut.
There’s
more. When a person donates untaxed, appreciated assets to a private
foundation, he may also deduct up to 20% of its market value on his
personal return, carrying forward this deduction for five years. This
double write-off may be the sweetest deal in the tax code.
We
gave May clear evidence of tax avoidance. Why won't she act?
(24 Nov 2017)
Thames Water drops the Cayman Islands:
New chairman ditches tax haven to clean up firm's tarnished image
(24 Nov 2017)
New Thames Water chairman to close
Cayman Islands arm (24 Nov 2017)
EU
Mulls Including Turkey on Blacklist of Tax Havens
(24 Nov 2017)
Ernst
& Young (EY) accountants accused of having 'tax mole' in Italy
finance ministry (24 Nov 2017)
Ernst
& Young (EY) says cooperating with authorities in Italy probe (24 Nov 2017)
A
hated tax but a fair one - Inheritance tax (24 Nov 2017)
HMRC
fines 115 finance directors for accounting lapses
(24 Nov 2017)
Budget 2017: Tax move will penalise savers, says
insurer (24 Nov 2017)
VAT
fraud crackdown increases liability of website marketplaces
(24 Nov 2017)
It's time for a land value tax (24 Nov 2017)
UK
Treasury replaces tax return fines with points-type system
(24 Nov 2017)
UK
Inheritance tax take to rocket (24 Nov 2017)
UK
Families to pay an extra £900m inheritance tax by 2022
(24 Nov 2017)
UK
Tax evasion rules will affect charities (24 Nov 2017)
Property industry
slams chancellor's tax plan amid fears it will deter investors
(24 Nov 2017)
Kafka
in Greece: a struggle against tax bureaucracy (24
Nov 2017)
'Google
tax' to crack down on avoidance by internet firms in UK
(23 Nov 2017)
Empty
homes council tax rise unlikely to deter rich owners, say
critics (23 Nov 2017)
Budget
2017: buy-to-let investors face higher taxes on capital gains
(23 Nov 2017)
What the foreign
direct investment data tell us about corporate tax avoidance
(23 Nov 2017)
UK
Tax evasion crackdown to raise £23bn a year (23
Nov 2017)
£300m
to tighten screw on tax evasion and avoidance (23
Nov 2017)
UK
Corporation Tax: amendments to the hybrid and other mismatches
(23 Nov 2017)
Budget
2017: Corporate tax announcements (23 Nov 2017)
Budget
2017: 'step up' scheme avoidance using intangible fixed assets curbed
(23 Nov 2017)
Corporation
Tax: intangible fixed assets - related party step-up schemes
(23 Nov 2017)
Budget
2017: Extended investigation time limit for offshore non compliance
(23 Nov 2017)
Accountants
too soft on reporting criminal activity (23 Nov 2017)
Russian Billionaire Charged in France
With Money Laundering (23 Nov 2017)
Italy
prosecutors probe Eni for tax evasion at refineries
(23 Nov 2017)
US
Prosecutors Suffer Dramatic Tax-Evasion Loss
(23 Nov 2017)
Amazon's
Australia rollout continues amid questions over tax haven
(23 Nov 2017)
UNICEF Report: Building the Future Children and
the
Sustainable Development Goals in Rich Countries (23 Nov 2017)
‘A Huge
Disappointment’: CLASS Panel Reacts to the Budget 2017 (22 Nov
2017)
Hammond's budget
picked Tory ideology over boosting Britain's economy
(22 Nov 2017)
Ireland closer to collecting Apple
taxes (22 Nov 2017)
House
Tax Bill Is Littered With Loopholes for Wall Street's Wealthiest
(22 Nov 2017)
Russia
Connection: Is Trump Having Sleepless Nights? (22 Nov 2017)
Corruption
Currents: Car Brands Serve as Bribery Code in FIFA Trial
(22 Nov 2017)
US jury clears ex-Swiss banker of
aiding tax dodgers (22 Nov 2017)
Russian
billionaire arrested in France for tax evasion (22
Nov 2017)
Head
of Organization Backed by Chinese Energy Conglomerate, and Former
Foreign Minister of Senegal, Charged With Bribing High-Level African
Officials (22 Nov 2017)
Office for Budget Responsibility:
Economic and fiscal
outlook - November 2017
(22 Nov 2017)
HM Treasury: AUTUMN BUDGET 2017 – Red Book
(22 Nov
2017)
Brexit gets £3bn top-up but
skulks unflagged in Hammond budget (22 Nov 2017)
Philip Hammond's nightmare housing
plan benefits rich kids and drives up the price of housing for the rest
of us (22 Nov 2017)
NHS Budget plan not enough, say bosses (22
Nov 2017)
UK
BUDGET REACTION: Family finances hit by biggest ever productivity
growth downgrade (22 Nov 2017)
Budget 2017: Minimum wage to rise but
miss long-term target (22 Nov 2017)
Budget 2017: Stamp duty relief will
drive up house prices, says OBR (22 Nov 2017)
Google tax: Philip Hammond announces
crackdown on tax avoidance by tech giants (22 Nov 2017)
Budget: Heads say extra maths cash is 'drop in ocean'
(22 Nov 2017)
Forget housing: the real budget story
is the sharp cut in growth forecasts (22 Nov 2017)
UK Predicts Worse Growth and More
Borrowing as Brexit Looms (22 Nov 2017)
British housebuilders hit by
land-banking review (22 Nov 2017)