1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Tax havens agree to crack open the vault

Discussion in 'Business & Tax Advice' started by CyberDilemma, Mar 13, 2009.

  1. CyberDilemma

    CyberDilemma Regular Member

    Joined:
    Apr 22, 2008
    Messages:
    322
    Likes Received:
    139
    BERNE/VIENNA (Reuters) ? Switzerland, Austria and Luxembourg offered to relax strict bank secrecy in some tax evasion cases on Friday in a response to a global crackdown on tax havens that is rattling the offshore banking industry.

    The three countries made the concessions ahead of a meeting starting on Friday of finance ministers from the G20 group of developed and emerging countries due to discuss tax havens, and after similar moves by Andorra and Liechtenstein on Thursday.

    Full article:

    Code:
     http://news.yahoo.com/s/nm/20090313/bs_nm/us_banking_secrecy
    At least it appears to be on a per-case basis.
     
  2. justthinking

    justthinking BANNED BANNED

    Joined:
    Aug 13, 2008
    Messages:
    475
    Likes Received:
    463
    Yeah, on a per-case basis. If a government asks to see your records, they hand them over. lol
     
  3. aмillionaírе

    aмillionaírе Jr. VIP Jr. VIP Premium Member

    Joined:
    Apr 20, 2008
    Messages:
    532
    Likes Received:
    358
    I'm disappointed.
    Posted via Mobile Device
     
  4. kalekom

    kalekom Junior Member

    Joined:
    Jul 25, 2008
    Messages:
    172
    Likes Received:
    356
    Occupation:
    CEO - SEO
    Location:
    here
    Home Page:
    I dont know about US but in EU you can actually establish structure to lower your taxes legally, no need to hide anything.
     
  5. eventus

    eventus Newbie

    Joined:
    Jan 3, 2009
    Messages:
    30
    Likes Received:
    32
    Oh this is going to be bad for alot of people. Even if you take all your money out the bank will still have records. There's going to be alot of "used to be" rich people in jail. *(thinks to myself) how can I capitalize on this?*
     
  6. toyo

    toyo BANNED BANNED

    Joined:
    Dec 20, 2008
    Messages:
    1,012
    Likes Received:
    498
    there are ways to hide the cash. Find countries with heavy bureaucratic systems-when like finding your docs with be like finding a needle in a haystack..
     
  7. calm

    calm Registered Member

    Joined:
    Dec 22, 2008
    Messages:
    98
    Likes Received:
    18
    Corporations/LLC are treated differently than individual people.
    I'm not in favor of hiding money I think it's to much trouble better to structure your business properly and pay what taxes you must.
     
  8. Arthas

    Arthas BANNED BANNED

    Joined:
    Jan 5, 2009
    Messages:
    637
    Likes Received:
    322
    im with you on that one.
     
  9. Kontra

    Kontra Newbie

    Joined:
    Feb 26, 2009
    Messages:
    44
    Likes Received:
    11
    Location:
    US
    UBS is in real trouble....something like 32,000 tax evaders. Ouch
     
  10. dondeal

    dondeal Registered Member

    Joined:
    Mar 7, 2009
    Messages:
    52
    Likes Received:
    26
    UBS is being stubborn their determined not to give them up.
     
  11. thomm12

    thomm12 Newbie

    Joined:
    Dec 30, 2007
    Messages:
    2
    Likes Received:
    0
    Oh no! I guess they will have to get my jail cell ready...:p
     
  12. berrycorp

    berrycorp Guest

    shit shit shit....
     
  13. Freddie

    Freddie Registered Member

    Joined:
    May 16, 2008
    Messages:
    62
    Likes Received:
    13
    Sadly, the question however is for how much longer?

    This whole issue with the "crackdown" on tax havens, the OECD etc is that it simply is about the fact that OECD members feel their ability to extort their own people is undermined/impaired by tax havens and secrecy and therefore they resort to bullying and extorting those jurisdictions that "hinder" them.

    It is really that simple.

    When you put pressure on water it will flow to a place where the pressure is lower.

    Same thing with money and people.

    What you have here is a case where those countries who believe it is their god given right to extort the people within their borders (and in some cases outside their borders) see that the money is leaking and as opposed to facing up to the REAL cause of the problem, i.e. the pressure at THEIR end being too high, they go off an blame the places where the pressure is lower because they can't stand the thought of people and money escaping their claws.

    So they go off and they form a gang (OECD, G20 etc) to facilitate doing abroad what they are so used to doing at home: coerce and extort.

    Folks this whole system has gone WAY out of control. Those governments are spending other people's money like never before and their desire to get more tax revenue to spend yet more and to expand themselves and their power is stronger than the desire of a crack addict looking for the next fix.

    So what they do is simply ignore the sovereignty of smaller nations and extort them into "compliance".

    In the mean time there is a HUGE orchestrated media campaign to tell everyone how bad tax evasion is and how we must crack down on tax havens.

    Easy way to divert attention away from the real problem
     
    • Thanks Thanks x 1
    Last edited: Apr 4, 2009
  14. eurgbp

    eurgbp Regular Member

    Joined:
    Jan 14, 2009
    Messages:
    212
    Likes Received:
    23
    Home Page:
    well what did you expect - these countries are in the middle of EU, sooner or later they'd give up and rat...
     
  15. NeoAkira

    NeoAkira Newbie

    Joined:
    Apr 26, 2009
    Messages:
    6
    Likes Received:
    159
    Panama will stay strong because they have something the Rest of the World needs. Especially the Chinese and Russians. The Channel is Panamas Joker.

    True Words. It is exactly like you write. They give the Banks who initiated this economic Struggle Billions to Rescue them and now they need more Money. And what is better in a modern Slavery to get this Money back from The Slaves.

    Nice Visualization and True.

    Those Countries are not democratic or free anymore they pretend to be. This is modern Slavery what is going on in those Countries. And when their Slaves try to be free they punish them with Jail. Germany has more Tax Laws then other Countries have Laws at all. And if you pay more than 50% Taxes (all Taxes summed up) than it is from my feeling modern Slavery.

    Yep. They are in a death spiral where the only escape is any sort of war. This is the Problem with our Capitalistic System at all. The only Country that managed it to take their Wars out of its Country is America. But now i go a little oftopic.

    Yep, but there are still some Gallic Countries who stand up against the Roman Empire4(see Asterix) ;). It all happened before and it will happen again.

    This is also True. There is a big Media Campaign rolling to scare the People and to say let you Money at home. We will find it. But this is all Bullsh*t.

    Don' believe this Campaigns. There are still enough possibilities to go Offshore. Just look for a good Law-Firm (Offshore) and they can help you.


    Here is also a nice Article about the OECD and Tax Hevens:
    lpoffshore [dot] com/eng/oecd.html

    (sorry, but still not enough Posts to submit links) I'm not related to this Website
     
    • Thanks Thanks x 1
    Last edited: Apr 28, 2009