bendish Posted April 7, 2016 Share Posted April 7, 2016 Probably not and that's the main problem. Unless you're a Chinese gov official and it goes against party policy or if it gets around sanctions... Link to comment Share on other sites More sharing options...
perunamuusi Posted April 7, 2016 Share Posted April 7, 2016 it's not necessarily illegal to move huge chunks of money into legitimate offshore businesses that serve no purpose other than to avoid paying compulsary taxes in the countries in which the business primarily operates. The sole purpose is to avoid paying tax - hundreds of billions of pounds worth of tax. While not necessarily illegal, many might view this secretive financial practice to be highly unethical. Or absolutely morally wrong especially when compared with the billions of pounds of cuts to public spending and the political culture of shifting the blame for economic crises to the poor, disabled and immigrants. Link to comment Share on other sites More sharing options...
Guest WNS000 Posted April 7, 2016 Share Posted April 7, 2016 How come it isn't more regulated by laws in various countries? Why is it "only unethical"? Link to comment Share on other sites More sharing options...
joshuatxuk Posted April 7, 2016 Share Posted April 7, 2016 i roll all my joints with panama papers (apologies if joke has been made already) Link to comment Share on other sites More sharing options...
Guest Chesney Posted April 7, 2016 Share Posted April 7, 2016 I'm sure i'd be in court in a few months if I rang up HMRC and said "i'm not paying any tax, sorry" It's sad as a small legit business does not get the chance to grow or make any money. Link to comment Share on other sites More sharing options...
Guest Chesney Posted April 7, 2016 Share Posted April 7, 2016 Maybe the only way something will be done about the system if everyone refuses to pay their tax. How does this kind of movement start rolling? ha Link to comment Share on other sites More sharing options...
chim Posted April 7, 2016 Share Posted April 7, 2016 it's not necessarily illegal to move huge chunks of money into legitimate offshore businesses that serve no purpose other than to avoid paying compulsary taxes in the countries in which the business primarily operates. The sole purpose is to avoid paying tax - hundreds of billions of pounds worth of tax. While not necessarily illegal, many might view this secretive financial practice to be highly unethical. Or absolutely morally wrong especially when compared with the billions of pounds of cuts to public spending and the political culture of shifting the blame for economic crises to the poor, disabled and immigrants. The sole purpose is not to avoid taxes in each and every instance. Some companies or individuals may have that ulterior motive but it may simply be a case of an entity needing secrecy regarding financial structures, sometimes it's just convenient for multinational assets that otherwise may be subject to double taxation. Lots of grey areas. Link to comment Share on other sites More sharing options...
juiceciuj Posted April 7, 2016 Share Posted April 7, 2016 How come it isn't more regulated by laws in various countries? Why is it "only unethical"? the people that write the laws (or pay the people who write the laws) have made it so. it's absolutely intentional best government money can buy Link to comment Share on other sites More sharing options...
bendish Posted April 7, 2016 Share Posted April 7, 2016 How come it isn't more regulated by laws in various countries? Why is it "only unethical"? That my friend is the question. Sad world this is. Link to comment Share on other sites More sharing options...
goDel Posted April 7, 2016 Share Posted April 7, 2016 How come it isn't more regulated by laws in various countries? Why is it "only unethical"? That my friend is the question. Sad world this is. For a long time, people simply didn't know unless they were profiting themselves. It only became known widespread around the time of the collapse of '08. Since then, international governments have been talking about better and more unified taxation-rules. But international cooperation is a very slow process. Lots of different interests and potentially huge economic impacts for those smaller countries who provide these kinds of safe tax-havens. And changing law just takes time. But stuff certainly is changing. Example: http://www.reuters.com/article/us-allergan-m-a-pfizer-idUSKCN0X21NV Link to comment Share on other sites More sharing options...
LimpyLoo Posted April 7, 2016 Share Posted April 7, 2016 "Educated criminals work within the law" (And write the laws in the first place) Link to comment Share on other sites More sharing options...
Joyrex Posted April 7, 2016 Share Posted April 7, 2016 Being a total idiot on business law and economics in general, does being named in the documents necessarily mean that a person was into something illegal? I have read somewhere that not everything in the papers was illegal. Could somebody explain in a very simple manner? From what I've heard so far, estimates are that 60% of the shell corporations named are involved in illegal activities. Link to comment Share on other sites More sharing options...
chim Posted April 7, 2016 Share Posted April 7, 2016 Now Cameron admits his dad's company was involved in this stuff, his company didn't pay british tax for 30 years. He terminated the offshore company prior to becoming PM. Wasn't he denouncing this crap as "immoral" the other day? Link to comment Share on other sites More sharing options...
azatoth Posted April 7, 2016 Share Posted April 7, 2016 Sure is fun to see them squirm. Make them squirm more! Link to comment Share on other sites More sharing options...
Silent Member Posted April 7, 2016 Share Posted April 7, 2016 Somebody call me when they roll out the guillotines, because it's about time Link to comment Share on other sites More sharing options...
Alcofribas Posted April 7, 2016 Share Posted April 7, 2016 so just to be clear, this is a documentary about van halen's vacation? Link to comment Share on other sites More sharing options...
dr lopez Posted April 8, 2016 Share Posted April 8, 2016 Link to comment Share on other sites More sharing options...
LimpyLoo Posted April 8, 2016 Share Posted April 8, 2016 Well-hung ghost blowjob Link to comment Share on other sites More sharing options...
baph Posted April 8, 2016 Share Posted April 8, 2016 lol Link to comment Share on other sites More sharing options...
goDel Posted April 8, 2016 Share Posted April 8, 2016 Well-hung ghost blowjob I think I can remember how you've earned your best new member 2012 title. /ambiguities intended Link to comment Share on other sites More sharing options...
tec Posted April 8, 2016 Share Posted April 8, 2016 It'll blow over and little will change. Link to comment Share on other sites More sharing options...
azatoth Posted April 8, 2016 Share Posted April 8, 2016 It'll blow over and little will change. Is this a reference to well-hung ghost blowjob or he Panama papers? If the latter then I agree. Link to comment Share on other sites More sharing options...
doublename Posted April 8, 2016 Share Posted April 8, 2016 It amounts to little more the than a bit of egg on the culprit's face. Link to comment Share on other sites More sharing options...
caze Posted April 8, 2016 Share Posted April 8, 2016 Now Cameron admits his dad's company was involved in this stuff, his company didn't pay british tax for 30 years. Why should a company registered in a foreign country, with no operations at all in the UK, pay tax in the UK? Obviously any UK resident people who are employed (or otherwise make money, via dividends or whatever) by said company should be paying UK income tax (and I don't think that's the case here), but aside from that I fail to see the controversy here. Also, what does Cameron's dad's business have to do with Cameron? Link to comment Share on other sites More sharing options...
azatoth Posted April 8, 2016 Share Posted April 8, 2016 Cameron inherited £300k tax free due to his fathers shady business Link to comment Share on other sites More sharing options...
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