Panama Papers

Pudney said:
No, and I'm not going to because the poor journalism will infuriate me. Give me the summary of what Blairmore has done wrong.
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Don't suppose you watched Channel 4's coverage in the news?

They had a few people round and the Greek Finance Minister couldn't help point the finger at London. :D
 
Gzero said:
Once you get past the report, and onto the discussion part, you can skip that or soldier on for the sound bites and 'who invited this nutjob on' looks.
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It's just vague statements with no facts behind it. It's nonsense and clearly shows they don't really know what they're talking about.
 
Go on hmrc do something useful for once or are you just Muppets who only have the ability to target small businesses.

Even then they do a **** poor job. Countries going down due to stuff like this getting ignored, it's all good as long as the rich can get away with paying tax.
 
https://panamapapers.icij.org/

Plenty of information available there, with an informative video on why this tax dodging is bad for people, let alone economies.

Just lol at the likes of Pudney sticking their fingers in their ears "lalalalal I can't hear you lalalalala"
 
RavenXXX2 said:
Speak for yourself, I'm no ****.
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I guess the question is, of those who are rich and morally corrupt, did the money bring about their corruption, or did their corruption help make them rich? :p

Personally I too hate the "we'd do the same in their position" comments. The sheer number of people for whom money is more important than integrity is (or used to be) somewhat shocking.
 
Thompson_NCL said:
Our economy is built upon this sort of financial dealing. I wouldn't be too eager to crack down on it, unless you want our economy to collapse.
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Our economy is also the product of extremely short-sighted business practices by the vast majority of companies.

Take out-sourcing for example. Is there any conclusive proof that out-sourcing has benefited our economy? Or just increased corporate profit and shareholder dividends.

If greed rules supreme, don't expect any kind of "trickle down" benefit to the rest of us. If greed rules supreme, everybody suffers for the enrichment of the very few. Hasn't history already proven that leaving the wealthy and corrupt to their own devices is a bad thing for society in general?
 
Thompson_NCL said:
Our economy is built upon this sort of financial dealing. I wouldn't be too eager to crack down on it, unless you want our economy to collapse.
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All I'm seeing is individuals stashing wealth away. Or is your point that the wealth is the result of 'bribes' and of countries greasing the right palms?
 
I think the only issue right now is that this company has so far been ignored sanction wise with regards to sanctioned organisations/nations.

That will change sharpish and that is likely why the leak occurred in the first place.
 
Dj_Jestar said:
Just lol at the likes of Pudney sticking their fingers in their ears "lalalalal I can't hear you lalalalala"
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Unfortunately I understand this area and I can see the many flaws in peoples moral outrage. I've never been one to judge others before the facts are known and if that means I don't fall in to mob mentality then so be it. I'd rather look at this rationally than join in with the crowd and get outraged on something I have no details on and just have to make up reasons to get outraged.

Of course, if you have actual facts on how Cameron's Dad avoided UK tax on his UK activities then I'll happily listen. But at the moment nothing has been shown.
 
OldCoals said:
http://www.bbc.co.uk/news/world-35961422
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You own a knife. They must mean you're going to stab someone with it! Your logic is flawed.

Stretch said:
If you had a referendum at any point, asking whether it's acceptable for people to use offshore tax havens to avoid paying tax, the result would be a resounding no.

It might not be illegal, or a closely kept secret, but the "people" are never offered the chance to stop it. It's never on the ballot paper. Why?

Clearly these schemes are not in the national interest, and many of them exists in jurisdictions under the direct control of the UK government.

The politician keep quite about it, and whilst it's not in the forefront of peoples daily lives, it gets conveniently "forgotten" about.

These leaks are newsworthy, because it raises the profile of something which shouldn't exists, and would not exist if it weren't for the rich having effectively bought government off around the world.

The only difference between tax avoidance on this scale, and tax evasion, is tax evasion is the result of governments doing their job properly. There is no point in evading tax any more.
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Tax avoidance schemes must be registered with HMRC. They then review the scheme and can require it to be closed down retrospectively. If it is not disclosed or any income which must be legally disclosed is not disclosed, then that is tax evasion. Tax avoidance is just like you or me using salary sacrifice schemes, small business owners paying themselves minimum wage and taking dividends for the rest, etc.

Having the attitude of "off shore funds should be banned!" introduces questions like, how do you define an off shore fund? For example, did you know that Japan now deem the UK to be a low tax jurisdiction like Switzerland because our Corporate Tax rate is now so low?
 
Let's be honest with ourselves... If you were rich enough to do this sort of thing. Would you go ahead and do it?

I'm pretty sure I would. It's my money and I'll do what I want with it.
 
DAIR said:
Let's be honest with ourselves... If you were rich enough to do this sort of thing. Would you go ahead and do it?

I'm pretty sure I would. It's my money and I'll do what I want with it.
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That's pretty disgusting.

"Let the poor pay their taxes, I'm too rich for that."
 
Pudney said:
Unfortunately I understand this area and I can see the many flaws in peoples moral outrage. I've never been one to judge others before the facts are known and if that means I don't fall in to mob mentality then so be it. I'd rather look at this rationally than join in with the crowd and get outraged on something I have no details on and just have to make up reasons to get outraged.

Of course, if you have actual facts on how Cameron's Dad avoided UK tax on his UK activities then I'll happily listen. But at the moment nothing has been shown.
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He avoided (at best) evaded tax by using an offshore company!
 
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