Secret Files Expose Offshore's Global Impact

This is shocking news to say the least, but somewhat expected as we all know that lots of money talks very loud.
I found this link this morning whilst reading up on this news.

I found it very very interesting, you can go through the steps on just how to stash your cash.

It is basically a step by step interactive site and you can try different methods via different countries.
After fooling with it for an hour or so I came to the conclusion that it would be next to impossible to plug all the holes because of the multitudes of choices you can make.

Link below

www.cbc.ca...

Give it a shot, I saved 90k on moving 10 million to the cayman Islands.....play money that is :-)

Regards, Iwinder

reply to post by pjfry


starred you and also flagged the thread.

Doesn't bother me at all, after all most of them earned it and created it or stole it fairly. Knowing that governments are made up of mostly greedy worthless bastards who will pilfer, waste, steal and trade it all for personal power including a lifetime of favors including their own personal wealth and that of their clan.

Even simple tasks such as fixing or building highways involves so much thieving that it could probability be done for 10% the actual cost if everyone involved were honest moral men. Since nearly nobody is honest or moral it all becomes a game of who can hide what they earn or who can come up with more ways to take it from them while pretending it is right and moral. All a bunch of BS if you ask me.

Originally posted by verylowfrequency

Even simple tasks such as fixing or building highways involves so much thieving that it could probability be done for 10% the actual cost if everyone involved were honest moral men.

Like the Big Dig up here in Boston. From Wikipedia: "The project was originally scheduled to be completed in 1998 at an estimated cost of $2.8 billion (in 1982 dollars, US$6.0 billion adjusted for inflation as of 2006). However, the project was completed only in December 2007, at a cost of over $14.6 billion ($8.08 billion in 1982 dollars, meaning a cost overrun of about 190%) as of 2006." (footnoting removed)

What galls me is that there are plenty of wealthy people in politics, and many of them claim the rest of us could be just as well off. The problem with that concept is that most of us haven't inherited a large amount that our forebears made, and we're honest.

I have no essential resentment toward the rich. There will always be poor, and there will always be rich. What I do resent are the actions of individuals and corporations that deliberately (and sometimes illegally or near-illegally) conceal their income to avoid paying the same fair share of their taxes that we honest people do.

This is worth to watch, it will make a whole lot clear.

This is a documentary about the tax structure of the multinationals. A Very well researched docu. Made by a Dutch public broadcast organisation.

Originally posted by ForwardDrift
I don't quite understand why stable nations just don't standardize their tax rules and regulations so that tax sheltering becomes difficult, if not obsolete. Any nation directly benefiting from tax sheltering has to realize the folly in thinking that the short-term financial benefit of allowing tax sheltering won't out way the long-term negative impact that tax sheltering has over the broader market. It seems like its just another way to distort the true cost of anything, which usually ends with horrible market-correcting consequences for everyone involved (including the shelter). But then again, I don't have a Ph.D in Economics nor Finance, so what do I really know? But, it just seems intuitively stupid to me to be the shelter-er for any person, knowing that it will impact you one way or another.

I think there is a feel-good factor with business owners when they get some exemption that gives a tax rebate. Either they feel they've struck a hard deal by haggling back some money or have felt they have regained control over their finances.

It's when a large company is close to bankruptcy that they file for tax exemptions. When the number of jobs and families runs into thousands, MP's have no option but to try and help. So they pass tax exemptions and loopholes; tax credits for owning company cars, buying office hardware or lunches. Business expenses could always be written off against tax since the government got the money indirectly from income tax and VAT of the purchase. So even if you started with a clean slate of a flat rate tax system, it would only be a matter of time before amendments, exceptions, special cases were being reapplied.

reply to post by EartOccupant


Thank You for posting this video!! Just finished viewing and forwarded onto my lists..

I think that ALL Governments will have to start getting a little tougher on Corporations and or individuals doing business in our countries. To think that Corporations are now lending money to Governments with interest when they dodged the tax man from the get go..

What a flippin scam

I think there is a feel-good factor with business owners when they get some exemption that gives a tax rebate. Either they feel they've struck a hard deal by haggling back some money or have felt they have regained control over their finances.

No doubt, true.

It's when a large company is close to bankruptcy that they file for tax exemptions. When the number of jobs and families runs into thousands, MP's have no option but to try and help. So they pass tax exemptions and loopholes; tax credits for owning company cars, buying office hardware or lunches. Business expenses could always be written off against tax since the government got the money indirectly from income tax and VAT of the purchase. So even if you started with a clean slate of a flat rate tax system, it would only be a matter of time before amendments, exceptions, special cases were being reapplied.

Oh, MP's have a choice--its just that no country wants to be the one holding the political and economic crap-sack when a major company goes down, which is understandable. Well, it seems like a trade-off. Standardize tax exemptions across international borders and deal with potentially horrible political/economic effects at home or don't and deal with them across a broader market. I'm sure it isn't that black-and-white, but that just seems the general trade-off to me. Ah, the dynamics of human commerce.

Originally posted by muse7
Steal a loaf of bread and you get 15 years
Steal a couple of billions and you get tax breaks

Disgusting

Theres anothe quote by john lithgow in the movie cliff hanger......Best movie quote ever..

"kill a few people and youre a murderer, kill a few million and your a conqueror, go figure"