Tax Avoidance

[AtW]

British government accused of being soft on tax avoidance

Ministers fail to stop EU taking steps to name and shame British overseas territories in tax haven blacklist

The British government has been accused of being weak on tax avoidance after failing to block the EU from taking the first step in naming and shaming its overseas territories in a tax haven blacklist.

Ministers in recent weeks fought to prevent Brussels from sending of letters informing 12 countries that they would be listed unless they promised to change their tax rules. The final EU blacklist is due to be published on 5 December.

The correspondence was eventually sent to the British overseas territories, but only following a ruling by members states’ experts sitting on a European council code of conduct group, which trumped the initial British protests.

https://www.theguardian.com/info/201...daily-email-uk

In response to the development, the leader of the Liberal Democrats, Vince Cable, accused Downing Street of impoverishing the Treasury to protect tax havens used by the super-rich to hide their cash.

Cable said Theresa May and David Cameron, under whom he served as business secretary, had been consistently weak in clamping down on the overseas territories.

He said: “There is little doubt that systematic tax avoidance is causing significant damage to the British revenue position in the budget. Why on earth is the British government blocking sensible, practical attempts by the European Union to stop predatory behaviour by some of its member states?”

https://www.theguardian.com/business...nce?CMP=twt_gu

[scooterscot]

Why is the EU always trying to punish us?

That's it, I'm cancelling my internet license - BBC / Guardian and their lefty agenda

[BrilloPad]

Avoidance is fine.

The law needs to be changed to turn it into evasion.

And there is no will for that.....

[meridian]

Avoidance is fine.

The law needs to be changed to turn it into evasion.

And there is no will for that.....

Actually, there is a will for that:

https://ec.europa.eu/taxation_custom...e-directive_en

It comes into effect across the EU in 2019...

[greenlake]

[Hobosapien]

Actually, there is a will for that:

https://ec.europa.eu/taxation_custom...e-directive_en

It comes into effect across the EU in 2019...

Nice timing. Do I need a better tinfoil hat or are we being played at many levels by our self serving government?

For an economy built on consumer spending it seems a lot is riding on the ability of the UK to attract 'outside investment' in the form of shady money. How else can all those Londoners afford to live in London now a tulipty terraced house is 'worth' millions, far out of reach of them buying, sucking up most of their income in rent.

Lower the cost of living and people would have more money to support the consumer economy. Yet the government has been doing all it can to avoid that. I wonder why.

[BrilloPad]

Nice timing. Do I need a better tinfoil hat or are we being played at many levels by our self serving government?

For an economy built on consumer spending it seems a lot is riding on the ability of the UK to attract 'outside investment' in the form of shady money. How else can all those Londoners afford to live in London now a tulipty terraced house is 'worth' millions, far out of reach of them buying, sucking up most of their income in rent.

Lower the cost of living and people would have more money to support the consumer economy. Yet the government has been doing all it can to evade that. I wonder why.

FTFY

Roll on the revolution.