The Crime of Assisting in Evasion of Foreign Tax

Hundreds of volumes of our laws are written to ensure that the government may successfully collect taxes. A large amount of people are employed in collecting those taxes. Whole industries have been created about the collection of taxes and about the avoidance of taxes.

Under new laws that came into force on 30 September 2017 two new criminal offences have been created, dealing respectively with facilitating the evasion of UK tax or the evasion of foreign tax. These offences can be committed by those working in these tax industries. Continue reading

Impressive Generosity

Today in the United Kingdom the new tax year starts. In about 148 working days from today not only will the United Kingdom have a new government, but the average UK citizen will have spent all his working time that he or she needs to spend in order to pay his (or her) tax to the government. This is according to the Adam Smith Institute. Their figures mean the average Briton working for five twelfths of the time for other people and only seven twelfths of the time for himself or herself. This is quite impressive generosity on the part of the average Briton.

A Trick a Deception and a Fiction – Tax Avoidance

The politicians have called it “the Google Tax” ; they now intend to tax multinationals that operate in the United Kingdom who at present manage to avoid paying UK taxes by using interesting means. This Google tax is long overdue. I am not a lover of multinationals; they seem to scare governments and cower them. However, the most interesting thing about this issue is not that the multinationals avoid tax – every sane person and business would seek to keep its tax bill to the minimum – but the means by which they avoid paying tax,  Continue reading

A Tax Upon You!

When you buy petrol to fill up your car you find that although the oil price has halved on world markets in the past eight months, and fallen by a nearly  a third in the past twenty four months the price at the pumps barely reflects what goes on in the oil market world wide. One reason is the greed of petrol companies but a more significant reason is the tax levied on petrol. For every litre you buy you pat 58 pence in duty and on top of that you pay value added atx on both the price of the petrol and the duty. One sixth of what you pay is value added tax and 58 pence of every litre you buy is duty, so overall in the United Kingdom people who use cars and vans and lorries have to make a very significant contribution to the nation’s tax.  Continue reading

Bank Accounts and Tax

Anyone who has tried in recent years to open a bank account has found that it takes about a month; ten years ago you could open a bank account in a week. Twenty years ago the process took half an hour. Today in the developed nations people need bank accounts far more than they did twenty years ago. The vast majority of payments are not made in cash but by bank transfer or credit card transactions. The reasons for this simple operation taking so long is modern days is given as the need to prevent money laundering. The reason given is not the whole truth. Continue reading

Your Friendly Neighbourhood Tax Evader

According to the BBC the massive bank, HSBC, has helped hundreds of its customers evade tax by colluding in maintaining secret bank accounts in many countries in the world. This should not come as a surprise because HSBC has wealth larger than the vast majorities of the countries in the world and in terms of power, money is usually more powerfully than armies and police forces, as numerous monarchs and world leaders have found to their cost throughout history. Continue reading

Nations that Manipulate Tax Rules

The Grand Duchy of Luxembourg has rightly been accused of manipulating its tax rates to enable large multinationals like Amazon to avoid paying corporation tax on the profits that they make on business in the jurisdictions where they make the profits. The main architect of this is the gentleman who now heads the European Parliament, Mr Juncker, which shows that if you have enough front you can get away with almost anything. Continue reading