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Wales
by Joske Vermeule, September 1
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Forums39
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Jun 14th, 2026
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Joined: Sep 2011
Posts: 14,749 Likes: 158
Member of the Inner Circle
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OP
Member of the Inner Circle
Joined: Sep 2011
Posts: 14,749 Likes: 158 |
Seems a bit daft to me when very wealthy people like Berlusconi go to extreme measures to avoid tax when they already have far more money they can possibly spend in their lifetime. I agree totally but I think it gets to be an illness. They just can't help themselves. At a certain point it is more about power than about the actual money.
Peter ![[Linked Image]](http://bradley.it/public_images/drive.jpg)
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Joined: Sep 2011
Posts: 14,749 Likes: 158
Member of the Inner Circle
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OP
Member of the Inner Circle
Joined: Sep 2011
Posts: 14,749 Likes: 158 |
In a little postscipt the Italian government has just decided that IVA will be raised to 25.5% by 2018.
Apart from the inflationary effect I can foresee an increase in avoidance and a growing black market.
Peter
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Joined: Jan 2012
Posts: 4,333
Gone to Porsche Part of the Furniture
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Gone to Porsche Part of the Furniture
Joined: Jan 2012
Posts: 4,333 |
In a little postscipt the Italian government has just decided that IVA will be raised to 25.5% by 2018. . The black market must always be a concern for any Government, however IVA/VAT still works out to be the farest Tax to all individuals, Simply you pay Tax on what you can afford.
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Joined: Aug 2013
Posts: 5,210
Charter Member
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Charter Member
Joined: Aug 2013
Posts: 5,210 |
In a little postscipt the Italian government has just decided that IVA will be raised to 25.5% by 2018.
Apart from the inflationary effect I can foresee an increase in avoidance and a growing black market. Not much difference from the old protection rackets when they went around with machine guns. Now they're politicians with taxes...
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Joined: Jan 2009
Posts: 5,945 Likes: 28
Charter Member
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Charter Member
Joined: Jan 2009
Posts: 5,945 Likes: 28 |
It is time that tax avoidance is treated as theft, not a "procedural misdemeanor' which is often the result with the guilty party allowed to buy their way out by paying the back tax plus a penalty.
Tax avoidance is simply organising your affairs to pay the minimum tax and not the maximum. Your personal allowance is avoiding paying tax on every £ or income. Your ISAs are the same - a piece of tax avoidance. So is your pension scheme. I use all the allowances that I legally can to ensure that the income that I pay 40% on is kept to a minimum. I dont think that should be treated as theft
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Joined: Aug 2013
Posts: 15,794 Likes: 15
Formerly known as Aldermog Member of the Inner Circle
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Formerly known as Aldermog Member of the Inner Circle
Joined: Aug 2013
Posts: 15,794 Likes: 15 |
It is time that tax avoidance is treated as theft, not a "procedural misdemeanor' which is often the result with the guilty party allowed to buy their way out by paying the back tax plus a penalty.
Tax avoidance is simply organising your affairs to pay the minimum tax and not the maximum. Your personal allowance is avoiding paying tax on every £ or income. Your ISAs are the same - a piece of tax avoidance. So is your pension scheme. I use all the allowances that I legally can to ensure that the income that I pay 40% on is kept to a minimum. I dont think that should be treated as theft Perhaps I should have said evasion, not avoidance. You are right, there are many perfectly legal ways to minimise the amount of tax paid. We all must use these opportunities to the fullest amount allowed. There are also a number of methods which whilst not strictly illegal may not be acceptable to HMRC's interpretation of the law. Some of these schemes end up being declared illegal. Then there are processes which are illegal. Inevitably the result, when caught, is expensive. I think it should also result in a criminal record and possibly time behind bars. Particularly for Company Directors who tacitly agree to such schemes to improve shareholder returns.
Peter,
66, 2016 Porsche Boxster S
No longer driving Tarka, the 2014 Plus 8...
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