Tax Dodgers and Money-Laundering

[vinty]

I'd be in favour of it but it's highly unlikely to work. Apple spend millions to avoid paying billions. Some people spend their lives trying to avoid paying any tax, their called accountants. There's dirty money and money laundering everywhere.

Ireland is being taken to court by the EU because they refused to collect £13 billion in back taxes from the Apple corporation, instead of collecting the back taxes the Irish government are going to court to have the EU's prosecution thrown out.
The Apple corporation are just one of many who use EU countries to launder their profits, Totally corrupt.

 

[vinty]

That's not the part that encourages EU bias though, is it.....

remember Neil Kinnock?

When an Austrian Member of Parliament filmed EU MPs rolling up to the Parliament building in limos, engines running, nipping in and signing the attendance register and then leaving within minutes having claimed £175 for a day’s expenses, he reported it to OLAF which is the EU’s agency for fighting fraud and corruption… Trouble is, OLAF is headed by Neil Kinnock – and one of the EU MPs filmed claiming fraudulent expenses was Glenys Kinnock – instead of being busted behind bars, they were given Life Peerages and sit on a family fortune of – allegedly – £10 MILLION – and most of that is tax payers’ money!

Remember Peter Mandelson? is he a teensie bit pro EU?

I wonder why:
https://www.theguardian.com/politics/2008/oct/12/mandelson-labour
In addition, when Mandelson reaches 65, he can look forward to a guaranteed EU pension - based on his four-year stint in Brussels - starting at £31,000 a year and rising in line with the cost of living. Pensions experts said last night that to buy an income of that size would require a fund of around £750,000.

Not bad for 5 years of work in the EU

These are the people that John D admires,

 

[SirGalahad]

Ireland is being taken to court by the EU because they refused to collect £13 billion in back taxes from the Apple corporation, instead of collecting the back taxes the Irish government are going to court to have the EU's prosecution thrown out.
The Apple corporation are just one of many who use EU countries to launder their profits, Totally corrupt.

Which by definition you make a great point. MNC play off countries to gain tax advantages and rebates so the only way around this is to have collective agreements enforced by the EU.

 

[noseall]

collective agreements enforced by the EU.

Sounds like a good idea?

 

[JohnD]

This will mean nothing to woody, who likes to pretend that tax-dodging is no problem.

Tax evasion is not a drain on finances.

This is bad news for billionaire gangsters and other criminals. Sorry woody.

 

[^woody^]

This will mean nothing to woody, who likes to pretend that tax-dodging is no problem.

This is bad news for billionaire gangsters and other criminals. Sorry woody.

There you go again, misinterpreting and misconstruing posts out of their context just to fit in with your narrative .

That quote was from a different thread with a different subject (which I presume you have just used to bring me here). Nobody, nor I said that "tax dodging" was not a problem. It may be I don't know, it was not the disccussion.

So for clarity, the other thread related to benefit payments being a direct drain on national finances - the more benefits paid the less money the government has to spend on other things. On the contrary, tax avoidance is not a drain as it is revenue not planned for and not budgeted for, so it is not an actual loss in the same way that benefit payments are.

You still have not explained how tax avoidance is a loss in the same way as benefits are, BTW. I'll still await your explanation to support your assertions, but I think we both know it will never come, can never come, because you are wrong and you can't support your own statement.

I have nothing to add to this thread. If you want to discess the benefit topic, post in that thread.

Good day to you.

 

[SirGalahad]

There you go again, misinterpreting and misconstruing posts out of their context just to fit in with your narrative .

That quote was from a different thread with a different subject (which I presume you have just used to bring me here). Nobody, nor I said that "tax dodging" was not a problem. It may be I don't know, it was not the disccussion.

So for clarity, the other thread related to benefit payments being a direct drain on national finances - the more benefits paid the less money the government has to spend on other things. On the contrary, tax avoidance is not a drain as it is revenue not planned for and not budgeted for, so it is not an actual loss in the same way that benefit payments are.

You still have not explained how tax avoidance is a loss in the same way as benefits are, BTW. I'll still await your explanation to support your assertions, but I think we both know it will never come, can never come, because you are wrong and you can't support your own statement.

I have nothing to add to this thread. If you want to discess the benefit topic, post in that thread.

Good day to you.

You should clarify first. Tax avoidance is legal. Tax evasion is not.

Which are you referring to because though you written avoidance did you mean evasion?

 

[JohnD]

the more benefits paid the less money the government has to spend on other things.

And the less tax is paid, the less money the government has to spend on anything.

I find it difficult to believe that you really don't know that.

Perhaps your sympathies lie with tax-dodgers for some reason.

 

[motorbiking]

Imagine someone comes a long with a new form of currency - lets call it a crypto currency and the world can launder its dirty cash without involving any regulated financial institutions. Then lets imagine that the currency becomes worth a lot, because of the vast amounts of dirty money circulating and people invest heavily in it to make money, without any clue about what it really is..

yeah I know a bit far fetched. - oh hang on

 

[SirGalahad]

Imagine someone comes a long with a new form of currency - lets call it a crypto currency and the world can launder its dirty cash without involving any regulated financial institutions. Then lets imagine that the currency becomes worth a lot, because of the vast amounts of dirty money circulating and people invest heavily in it to make money, without any clue about what it really is..

yeah I know a bit far fetched. - oh hang on

So you have this cryptocurrency. How do you buy it with FIAT money? If your fiat money is in hard cash then you have to launder it into the banking system before you use it to buy digital currencies. With KYM and AML requirements the best way is to use a compromised bank - HSBC comes to mind. So the only reason you would want your money in crypto is it cant be frozen but the moment you try to convert it to fiat money the alarn bells will go off.

Until more people accept payment in your crypto currecy it will remain marginalised.

 

[motorbiking]

With hard cash you can use an anonymous or straw man pre-pay debit, or you can even try a Crypto ATM. But the most common way is to channel it through a digital exchange with numerous fake/bot accounts. You can then rapidly move the money to anonymous wallets and trade it cheaply between clean traders. There is actually quite a trade in verified accounts on the darker web. Once you have your primary coin, you move it to an alt-coin where the ledger isn't as secure. Lots of articles explain how its being done.

 

[SirGalahad]

With hard cash you can use an anonymous or straw man pre-pay debit, or you can even try a Crypto ATM. But the most common way is to channel it through a digital exchange with numerous fake/bot accounts. You can then rapidly move the money to anonymous wallets and trade it cheaply between clean traders. There is actually quite a trade in verified accounts on the darker web. Once you have your primary coil, you move it to an alt-coin where the ledger isn't as secure.

When we are talking about cartel size volumes of cash you need a HSBC. I bet HSBC fears crypto as they could potentially loses hundreds of millions in fees from laundering cash lol.

These digital exchanges still need you to link in with a bank account or at least with one of the main coins - so you still need to have that link to the banking world. Sure once your money is in crypto it can move with relative ease and anonymity. Remember the ledgers are publicly searchable. It's pseduo anonymity unless you use on of the totally anonymous crypto like ADA.