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TAX DISCUSSION

Heavyduty053

By Heavyduty053,
in Tax Discussion

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Heavyduty053 Newbie

Heavyduty053

Posted
Posted

            One more time I want to bring this info before the DV group. Something is up and all biggee countries are preparing. All representatives, President's, Ministers of the G8 summit discussed many things but the one that they all agreed on and sign agreements on was Money being hidden off shore and avoiding taxes due each country, They have agree to turn over names, share information to one another. Tax Havens is going to become a thing of the past.

 

             So if you have been incouraged to look offshore for a place to stash you money when this happens you better beware. You could a chunk of it in penalities, fines. Belize, Switzerlon, Camens they will all comply once the pressure is upon them. Be fore warned that if you play your hand against Obama and the present govt we have now you will suffer. This Rv is going to produce many millionaire's and don't think for one minute that they don't know what you do when its cashed in. The IRS will relieve you of your money and laugh while they are doing it. Whatever you do, do it legally and get them off your back. Best of luck to all in what you decide.

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Nadita Newbie

Nadita

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Posted

Okay,

 

For a long time, I thought snowglobe was a woman lol.. heavy just disclosed it to me, so good to know before I give any jokes that only women will understand lol.. gosh this username sometimes can be deceiving :)

 

I guess G8 is one step ahead of us.  They have to have the meetings to discuss how to catch the little fish with silver in the mouth.  IRS is something that I will avoid like getting pregnant lol.  It's not worth agony from them, let alone the money and time and stress.. they can make your life upside town, sideways. 

 

Just think of the RV as winning powerball :)

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pattyangel Newbie

pattyangel

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This may shed some light on the this topic. 
 
Published 2013-06-19 07:53:14

 

ENNISKILLEN, United Kingdom, June 18: The world’s leading industrialised nations struck a deal on Tuesday to crack down on the “scourge” of tax evasion and share more cross-border financial information.

Gathered in Northern Ireland for a summit, G8 leaders vowed concrete steps to target not only illegal tax evasion but also tax avoidance by multinationals such as Google, Amazon and Starbucks that costs taxpayers billions in lost revenues.

“Tax authorities across the world should automatically share information to fight the scourge of tax evasion,” the G8 said in a statement after a two-day summit.

“Countries should change rules that let companies shift their profits across borders to avoid taxes, and multinationals should report to tax authorities what tax they pay where,” it said.

The declaration, which came after talks on financial policy on Tuesday, also called for greater transparency on corporate ownership.

“Companies should know who really owns them and tax collectors and law enforcers should be able to obtain this information easily,” the statement said.

Host Prime Minister David Cameron made tax, trade and transparency — the so-called “Three Ts” — a key focus of the two-day G8 summit, which has otherwise been dominated by the conflict in Syria.

After on Monday announcing the launch of negotiations next month for a crucial EU-US free trade pact, the focus turned on Tuesday to the other two “Ts”.

According to a draft of the final summit communiqué obtained by AFP, the leaders agreed measures to share information internationally and to each publish national “Action Plans” on corporate ownerships and trusts used to avoid taxes.

“We commit to establish automatic exchange of information between tax authorities as the new global standard,” the draft reads, promising to develop a “multilateral model which will make it easier for governments to find and punish tax evaders.”

It promises to “rapidly” create a system for “multinationals to report to tax authorities where they make their profits and pay their taxes across the world.”

Much of the concern over tax avoidance has focused on big companies which operate legally within the tax system to minimise what they pay: a strategy knows as tax optimisation.

The draft says G8 nations will work on these issues with the OECD, which provided ammunition for an offensive against tax evasion in a report outlining how to bring about automatic sharing of financial information.

The report — commissioned at the G8's request —suggests that countries adopt broad, standardised legislation so that bilateral information-sharing agreements can be quickly and easily negotiated.

It warned that without solutions that cross continents, tax evaders will simply move to countries beyond regulators' reach.

Global Issue Needs Global Solutions “Offshore tax evasion is a global issue requiring global solutions,” noted the report, “otherwise the issue is simply relocated, rather than resolved.”It also urged countries to look at more than just bank accounts so that people do not simply shift their funds into other assets or vehicles such as trusts.

On Saturday, Cameron strengthened his hand by securing a commitment from Britain's overseas territories, including financial centres such as Bermuda and Jersey, to promote transparency and the exchange of information between tax jurisdictions.

Last year the United States and five European countries decided to move in the same direction by drafting a model agreement based on a 2010 US law.

It obliges all banks automatically to provide US authorities with all information they hold concerning all assets owned by US taxpayers, instead of upon request as was previously the practice.

The White House published its action plan at the summit, committing it to push for “comprehensive legislation” on identifying company ownership information.

In a setback for transparency efforts however, Swiss lawmakers on Tuesday refused to bow to pressure to approve a deal with the United States exposing US tax dodgers with assets in Swiss banks.

Lawmakers refused for the second time to hold an emergency debate on the “Lex USA” deal, which Washington has demanded must come into force by July 1.

The deal is seen as crucial if Swiss banks are to escape the threat of a raft of lawsuits in the United States, as well as being barred from the profitable American market.

The G8 brings together the world's leading industrialised countries — Britain, Canada, France, Germany, Italy, Japan, and the United States — and Russia.—AFP

 
 
 
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Nadita Newbie

Nadita

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Posted

ummm i am a chick...lol

 

you guys crack me up......is it my manly voice throwing you off???

 

 

See if we were all naked this would not be an issue!!

Snow,

 

I am sorry.. I checked your profile and you are pink lol.. Heavy threw me off by saying "bro" lol

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Heavyduty053 Newbie

Heavyduty053

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Sorry Nadita I didn't know whether Nadita was man or woman.....just a by word of mine....didn't mean to mess with your mind.....but we do need a little humor now and then...also the naked part got me   lol

Edited by Heavyduty053
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catmax Apprentice

catmax

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Posted (edited)

Did someone say naked?

 

sphynx-cat-picture-31.jpg

 

sorry I couldn't resist. Thank goodness for Adam setting up VIP and OSI here. There are a lot of very smart people that can help us do it right and do it legal. That's the plan even if the rules change so will the way we "WIN"

Edited by catmax
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