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Paradise Papers: Dear Tim Cook

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Re: Paradise Papers: Dear Tim Cook

#341

Post by cr1895 »

CamTin wrote: post #305
mrmekon wrote: post #289

Earlier quoted context omitted.

I guess it depends on your definition of "ordinary people", but if you're going abroad for long-term work in any "middle class" industry, you're eventually going to have extremely complicated taxes. Retirement savings, stock options, real estate, and any sort of investment account makes your U.S. tax return go from "a 1040" to a towering mountain of special forms. A lot of them also lose you the right to e-file, for…

WBK ( https://www.bzwbk.pl/ ) seemed more than willing to open me a bank account quite recently. There were a few more forms due to my being a US citizen, but it seemed like actually fewer than my wife (a Polish citizen with a US Green Card) needed to do the same thing. Maybe things are stricter in the West than in Poland?

It depends on the bank. Essentially it boils down to whether the "foreign" bank is willing to go through the compliance and data-sharing that is impressed upon them by working with Americans. Some do, many understandably can't be bothered.

Re: Paradise Papers: Dear Tim Cook

#342

Post by makapuf »

thanatropism wrote: post #81
jlebrech wrote: post #35

Earlier quoted context omitted.

if something isn't right but is legal, it should be made illegal. you cannot prosecute abuse prior to the change.

Middle-school bullying is legal. Should we criminalize middle-school bullying?

Why not ?

Re: Paradise Papers: Dear Tim Cook

#343

Post by loxs »

styx31 wrote: post #80

What annoys me the most is that, as a small company, I can't evade from my country tax system. I pay the taxes. All of them, at full rate. But there are these big companies which can afford to create offshore companies/holding just to evade some tax system, and lower their tax rate. So, what? The tax rate of a country is now "artificial", because it will never be applied to all revenues from all companies, because th…

One day people will realize it. All taxation is theft.

Re: Paradise Papers: Dear Tim Cook

#345

Post by larrysalibra »

hop wrote: post #178

In Mexico, people don’t finish their houses and leave rebar coming out the roof to pay less tax. In Vietnam, the houses are really thin because property taxes are based on width. For an American company selling things overseas, they’re going to setup in Ireland or wherever else because the laws make it advantageous. All these decisions are functions of the laws written, so if they want to complain and write open lett…

Wow! I always wondered why properties in Vietnam were so thin! Makes sense - give people incentives to build "thin" buildings and they'll build thin buildings!

Re: Paradise Papers: Dear Tim Cook

#347

Post by improbable22 »

DomreiRoam wrote: post #314
tyingq wrote: post #240

Earlier quoted context omitted.

They aren't, for the most part, doing anything illegal though. They are using the existing laws to their best advantage. The fix for this can't be trying to appeal to their morals. It would have to be something else that just limits the legal choices. Edit: If you disagree, are you saying that shaming them into not doing this solely on some moral compass is the right fix? Does that scale?

I think they are often engaged in illegal activities but it is difficult to prove it. A company and its subsidiaries are different entities and when you do an IP transfer between them where a huge set of patent and trademark is exchanged for 1 euros and then used back for millions, one of the company has been wronged. Try to do the same shenanigan with a LTD and yourself and you will very fast see what the IRS (or eq…

Maybe the problem is in trying at all to tax something you can't pin down, like this IP transfer between (say) Apple Germany and Apple US. I mean what should its value be? Clearly Apple Germany is nothing at all like an independent company importing phones from China to sell. Much of what they sell is the software, the image, the brand... these things don't have open-market prices. So who gets to decide what their price is? Apple's accountant? Some bureaucrat?

The much simpler solution is not to bother taxing these things you can't see. Why don't we set the corporate profit tax to zero, and then this whole argument goes away.

Tax is collected every time they sell a computer in Germany. Tax is collected every time they employ someone. Tax is collected every time someone sells shares and profits. These seem like good things to tax, as they involve actual people and take place unambiguously in particular countries. If you'd like to collect more tax, then by all means adjust the rates.

Re: Paradise Papers: Dear Tim Cook

#349

Post by batushka »

tyingq wrote: post #240
loceng wrote: post #188

Earlier quoted context omitted.

These companies evading taxes are responsible for increased hardship and suffering of a society as well, leeching off of the nations they exist in, and being able to outcompete the honest organizations and people in them. The damages are far greater than the tax avoided. "They are doing it too" isn't a valid excuse either.

They aren't, for the most part, doing anything illegal though. They are using the existing laws to their best advantage. The fix for this can't be trying to appeal to their morals. It would have to be something else that just limits the legal choices. Edit: If you disagree, are you saying that shaming them into not doing this solely on some moral compass is the right fix? Does that scale?

The more laws available - the easier it is to find a loophole or create a scheme for evasion. Look at tons of tax lawyers and firms thriving on difficult and ever growing laws. Full tax rate is only for loosers who can't hire tax evasion lawyers.

The only way froward is to cut regulation - to be understandable and as equally applied as possible.

Re: Paradise Papers: Dear Tim Cook

#350

Post by heinrichhartman »

snappyTertle wrote: post #83

I don't get why people think paying more taxes is "moral". There are a lot of things the government spends on that I don't agree with...and I'm sure I'm not alone on this.

Are there parts of Gov spending that you agree on? How about: - Public Safety? - Roads? - Education? Do you want to keep those? Who should pay for this if no-one pays taxes?
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