Another article on Osborne hypocrisy...
UK did an India in 2008 to levy retro tax - The Times of India
UK did an India in 2008 to levy retro tax - The Times of India
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'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
Nick Pickles, director of Big Brother Watch. -
What I am puzzled about is that Monp had 3 months to apeal to Europe but it looks like no decision on that yet! Cannot understand this to be honest! Unless, of course, that 3 months' deadline was something that I got wrong.Originally posted by OnYourBikeGB View PostComment
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From what I understand, our case would have been thrown out by Europe if we hadn't exhausted the UK courts process first (which we obviously have now).Originally posted by marcuss View Post'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
Nick Pickles, director of Big Brother Watch.Comment
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MP correspondence
Further email sent tonight with updates. Everyone - keep them going, don't stop, keep pushing the facts.....
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Don't know if my comments will get published (or whether anybody will approve of them either come to that) but awaiting moderation is:-Originally posted by SantaClaus View Post
My personal view is that retrospective taxation is entirely wrong in all circumstances. Whilst it may be somewhat unpalatable that Vodafone avoid substantial amounts of taxation the simple fact is that the law at the time of their action allowed them to do this. A decision upheld by your supreme court. It is perfectly reasonable to modify the law going forwards, but not backwards.
The case in the UK, whilst involving rather less money is in some ways far worse. They actively stated they were bringing test cases, which they failed to do. They gained agreement for people to be bound by the results of said test case and once they had achieved this only then did they actually change the law with retrospective effect. This was nothing short of deliberate entrapment.
Although the results from any particular piece of legislation may not be what a government wishes it is imperative that one can act with certainty under the law at the time of action. Without this certainty the entire judicial system is rendered nothing more than a kangaroo court.Comment
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You couldn't make it up!
I was actually referring to this!Originally posted by SantaClaus View PostTypical politician, from around 4min 43 secs, he manages to completely avoid the question and pin it on India.
What a
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I thought Ken Livingstone was the slimiest weasel there was, but Osborne has excelled himselfOriginally posted by BarneyCool View PostI was actually referring to this!
What a
'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
Nick Pickles, director of Big Brother Watch.Comment
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Done. 64 posts by tonight though - we need more. Come on chap!Originally posted by SantaClaus View PostComment
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Osborne: I'm going after the wealthy tax dodgers
George Osborne was left 'shocked' after an analysis of the tax returns of multi-millionaires which he personally ordered found that they are exploiting loopholes to pay little or nothing at all.
By Robert Winnett and James Kirkup (Telegraph)
10:00PM BST 09 Apr 2012
A confidential study by HM Revenue and customs found they are using aggressive avoidance schemes to reduce their income tax rate to an average of 10 per cent - less than half the level paid by the average Briton. (What ever happened to confidentiality?) The Chancellor personally studied the “anonymised” copies of the tax returns submitted by some of the country’s wealthiest citizens which showed some people are able to avoid paying income tax entirely.
The analysis convinced Mr Osborne that millionaires must pay a minimum rate of tax equivalent to about a third of their earnings, which has been described as a “tycoon tax”.
Mr Osborne told The Daily Telegraph: “I was shocked to see that some of the very wealthiest people in the country have organised their tax affairs, and to be fair it’s within the tax laws, so that they were regularly paying virtually no income tax. And I don’t think that’s right. (But it is legal, missing the point again) “I’m talking about people right at the top. I’m talking about people with incomes of many millions of pounds a year. The general principle is that people should pay income tax and that includes people with the highest incomes.
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“I’m not allowed to be shown the names of the individuals but I’ve sat with the most senior people at the Inland Revenue, the people who run some of the high net worth units there. They have given me examples, anonymised examples, and so we are taking action.”
The report found that Britain’s 20 biggest tax avoiders have used three main loopholes to legally (there's that word again LEGALLY) reduce their their income tax bills by a total of £145 million in a year.
Two thirds of them wrote off business losses in one of their companies against their income tax bill, reducing it by as much as half .
Several of them offset the cost of business mortgages or borrowing on buy-to-let properties against their income tax bill, while others took advantage of relief on donations to charity.
The rest of the article is in the telegraph.Comment
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