EORH Posted July 22, 2012 Share Posted July 22, 2012 There is a press statement in this newspaper that this is the amount of money stacked away in private banks in the Caymans,Switzerland tax havens,is some of this money in other tax havens un-named,it seems the wealthy elite are putting this money out of countries like the UK, Saudia,Russia,Nigeria etc, and the amount could solve most of the problems of the Euro,and the poverty in Africa. People like Sir Philip Green and his wife are highlighted in this newspaper headline amongst others,and people who pay taxes are told there have to be austerity measures to solve the debt,and the banks need bailing out with more printed money,who is kidding who here? I wonder is the Isle of Man included in this movement of vast sums of untaxed money?,are we super clean,is the Channel Islands also involved?,what do the Manx Forums contributers think?. Link to comment Share on other sites More sharing options...
piebaps Posted July 22, 2012 Share Posted July 22, 2012 I think your article is pure fantasy. If the banks are secret and private etc etc, how does the reporter know how much money there is? The answer is that its pure speculation. Remember the annual Sunday Times rich list which said Trevor Baines was a millionaire! Link to comment Share on other sites More sharing options...
Evil Goblin Posted July 22, 2012 Share Posted July 22, 2012 Just a bit of a technical point, EORH. The money does not actually get pulled out of countries - all that changes is title to the money. All the Sterling in the Worldis in London, all the USD are in the US, etc. Link to comment Share on other sites More sharing options...
Evil Goblin Posted July 22, 2012 Share Posted July 22, 2012 Smurf,of course, has something to say about it: http://www.taxresearch.org.uk/Blog/2012/07/22/global-super-rich-has-at-least-21-trillion-hidden-in-secret-tax-havens/ Link to comment Share on other sites More sharing options...
EORH Posted July 22, 2012 Author Share Posted July 22, 2012 It's not my article,it's the newspapers,and as Evil Goblin lists in the blue underlined,roughly the same,the people collating the statements will have an idea on the volume,but it dosn't matter what the exact figure is it's going on,just why the UK and USA governments can't clamp down on it is a mystery if the money is still in those countries,I always thought it had to be actually deposited in the said banks,so if as you say E G,the cash is in London,exactly where is it,and why can't the government tax it?. Link to comment Share on other sites More sharing options...
Ringwraith Posted July 22, 2012 Share Posted July 22, 2012 Wonder how much of it is so called 'bail-out' money? Link to comment Share on other sites More sharing options...
manshimajin Posted July 22, 2012 Share Posted July 22, 2012 I wonder is the Isle of Man included in this movement of vast sums of untaxed money?,are we super clean,is the Channel Islands also involved?,what do the Manx Forums contributers think?. If I understand it correctly tax havens legislate to allow money to be secreted away from the prying eyes of governments that may think it reasonable for the wealthy to pay tax. I am not sure that the IOM fits into that category although recent publicity in The Times about the Channel Islands and schemes to minimise tax liabilities in the UK make me wonder if the same is done here. There seems to be fine lines between deliberately allowing money to be secreted away (which seems to be the Swiss model), creating 'legitimate' (my parenthisis) structures for tax minimisation and low tax legislatures. I suspect the IOMG will say if asked, that we have a well-recognised tax information exchange system. Do we also have a well patronised offshore tax minimisation industry? Link to comment Share on other sites More sharing options...
molly Posted July 22, 2012 Share Posted July 22, 2012 I think your article is pure fantasy. If the banks are secret and private etc etc, how does the reporter know how much money there is? The answer is that its pure speculation. Remember the annual Sunday Times rich list which said Trevor Baines was a millionaire! I have often thought about that. Mr Baines was supposed to have owned victory house and the other office buildings about town and now obviously he doesn't, so who does? and how? Link to comment Share on other sites More sharing options...
pongo Posted July 22, 2012 Share Posted July 22, 2012 I'm shocked, shocked to find out that gambling is going on in here ... Link to comment Share on other sites More sharing options...
Moghrey Mie Posted July 22, 2012 Share Posted July 22, 2012 I think your article is pure fantasy. If the banks are secret and private etc etc, how does the reporter know how much money there is? The answer is that its pure speculation. Remember the annual Sunday Times rich list which said Trevor Baines was a millionaire! Hardly fantasy. http://www.spearswms.com/article_assets/articledir_69/34887/The%20Price%20of%20Offshore%20Revisited%20-%2019-07-2012.pdf Link to comment Share on other sites More sharing options...
Lisenchuk Posted July 22, 2012 Share Posted July 22, 2012 Wonder how much of it is so called 'bail-out' money? At a guess I would say quite a lot of it. Link to comment Share on other sites More sharing options...
Lxxx Posted July 22, 2012 Share Posted July 22, 2012 Wonder how much of it is so called 'bail-out' money? At a guess I would say quite a lot of it. At a guess I would say that was the whole point of the charade. To squirrel away as much as they could, courtesy of the taxpayer, before it all goes kapish. Link to comment Share on other sites More sharing options...
Tugger Posted July 22, 2012 Share Posted July 22, 2012 I'm surprised the Tax Justice Network were so conservative in their complete guess analysis. I expected the number to be 11 trillion gazillion Link to comment Share on other sites More sharing options...
manshimajin Posted July 23, 2012 Share Posted July 23, 2012 I hear from the BBC this morning that the UKG is now planning more action on 'aggressive" tax minimisation including a requirement to name names of those taking advantage of it and disclosure of scheme details. Link to comment Share on other sites More sharing options...
Lxxx Posted July 23, 2012 Share Posted July 23, 2012 I hear from the BBC this morning that the UKG is now planning more action on 'aggressive" tax minimisation including a requirement to name names of those taking advantage of it and disclosure of scheme details. Cue lots of headline making celebrities busted to placate the masses while the ones who have business links into government continue to abuse the system via the back door. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.