Paradise papers

lightspeed · 06-11-2017 01:01AM #1

Well it looks there are some more leaks on them panama papers.

Rte news amongst other news sources reporting that Queen Elizabeth has £10 mil stashed in offshore accounts. All them unionist folk must be filled with such a sense of pride.

https://www.rte.ie/news/world/2017/1105/917669-paradise-papers/

https://www.irishtimes.com/business/paradise-papers-how-the-rich-and-powerful-hide-their-money-and-avoid-tax-1.3280699?mode=amp

"The files contain information on the affairs of AIB’s offshore operation, some of Ireland’s wealthiest businessmen and most prominent businesses, celebrities from the arts world, and even an Irish priest who played a role in offshore holding companies linked to valuable assets. The data also contains new information on the role played by Ireland in structures that allow some of the world’s most profitable corporations significantly reduce their tax bills:

Im not sure if the irish independent has a piece on the above. Id love to hear Denis O"Brien''s opinion

Cheerful Spring · 06-11-2017 01:05AM

lightspeed wrote: »

Well it looks there are some more leaks on them panama papers.

Rte news amongst other news sources reporting that Queen Elizabeth has £10 mil stashed in offshore accounts. All them unionist folk must be filled with such a sense of pride.

https://www.rte.ie/news/world/2017/1105/917669-paradise-papers/

https://www.irishtimes.com/business/paradise-papers-how-the-rich-and-powerful-hide-their-money-and-avoid-tax-1.3280699?mode=amp

"The files contain information on the affairs of AIB’s offshore operation, some of Ireland’s wealthiest businessmen and most prominent businesses, celebrities from the arts world, and even an Irish priest who played a role in offshore holding companies linked to valuable assets. The data also contains new information on the role played by Ireland in structures that allow some of the world’s most profitable corporations significantly reduce their tax bills:

Im not sure if the irish independent has a piece on the above. Id love to hear Denis O"Brien''s opinion

All rich people have offshore accounts not surprising they like avoiding paying taxes.

lightspeed · 06-11-2017 01:18AM

Cheerful Spring wrote: »

All rich people have offshore accounts not surprising they like avoiding paying taxes.

Maybe they all have the same accountant?:pac:

If tax evasion carried a mandatory lengthy custodial sentence maybe wealthy people would be more reluctant to avoid paying taxes.

We shouldnt have a system were wealthy people just pay some penalties along with taxes they should have originally paid.

Serious tax evasion should carry a minimum prison sentence of something akin to armed robbery or other criminal offences.

blinding · 06-11-2017 01:19AM

Aw Sh$t . Now I am going to be up all nigh moving my BMillions about

Kat1170 · 06-11-2017 01:20AM

Bono's name crops up more than once according to Sky News.

Panrich · 06-11-2017 01:24AM

Cheerful Spring wrote: »

All rich people have offshore accounts not surprising they like avoiding paying taxes.

Ah yes. Let’s not talk about it.

Been reading a bit of this and the entitled seem to have no qualms in avoiding their responsibilities.

lightspeed · 06-11-2017 01:39AM

Kat1170 wrote: »

Bono's name crops up more than once according to Sky News.

http://www.finfacts.ie/irishfinancenews/article_1026589.shtml

Above article going back in 2013 talks how they use the same company im netherlands that helps the mega rich companies and people in Africa amongst others to transfer funds and avoid paying taxes in Africa. The article correctly points out the hypocrisy of the likes of Bono acting like an African messiah when comes to Live Aid etc.

Below from joe.ie talks about current leak. Something about registering a company in Malta to buy shopping centre in Lithuania to pay tax at just 5%. Not sure if anything illegal about that

I cant help but wonder why would he need to trying to penny pinch and make such investments. Like surely he and his family have enough for life. Why the necessary greed?

Does he and others with such wealth jump with joy thinking great now with the tax ive saved i can afford to buy that new car/boat/house i could already easily afford?

https://www.google.ie/amp/s/www.joe.ie/amp/news/bono-paradise-papers-605602

smurgen · 06-11-2017 01:39AM

First thread on it i posted in dissapeared?ðŸ€”

MightyMandarin · 06-11-2017 02:57AM

Kat1170 wrote: »

Bono's name crops up more than once according to Sky News.

He invested millions in a lithuanian shopping centre via his maltese investment fund. Mr 'feed the poor' caught again dodging tax with his little offshore accounts. Prick.

YFlyer · 06-11-2017 03:07AM

Any word of Rothchilds?

s7ryf3925pivug · 06-11-2017 05:05AM

It's a separate leak to the Panama Papers; of almost as large a collection of data. There was another thread about it, but it appears to have been deleted for some reason.

The leak shows the Russian state funded an $850k investment in Jared Kushner's startup, as well as over a quarter of a billion combined investment in Facebook and Twitter.

blinding · 06-11-2017 06:15AM

Perhaps before U2 concerts Bono could give Tax avoidance guidance seminars . His and U2 tax affairs are probably the most interesting side to them .

Richard Hillman · 06-11-2017 06:17AM

QE2 doesnt have any "offshore" accounts. She is the monarch of Cayman and Bermuda. They are her islands to put her money into.

blinding · 06-11-2017 06:35AM

Richard Hillman wrote: »

QE2 doesnt have any "offshore" accounts. She is the monarch of Cayman and Bermuda. They are her islands to put her money into.

Perhaps Bono will get us to buy a few Islands for him . I wouldn’t want him falling below the status of a / the Queen .

Is that not Saint Sir Bono .

Bono should give a tax avoidance seminar before and after every concert . U2’s tax avoidance arrangements are by far the most interesting part of their Schtick .

Perhaps the revenue commissioners : “ Still Haven’t Found All That They Are Looking For ! "

Canis Lupus · 06-11-2017 07:48AM

The thing is though how many of these people are complicit in tax evasion and how many just get an accountant (possibly on the advice of other rich people/friends) and ask them to do whatever it is they do so they pay the least amount of tax?

Jawgap · 06-11-2017 08:04AM

lightspeed wrote: »

Maybe they all have the same accountant?:pac:

If tax evasion carried a mandatory lengthy custodial sentence maybe wealthy people would be more reluctant to avoid paying taxes.

We shouldnt have a system were wealthy people just pay some penalties along with taxes they should have originally paid.

Serious tax evasion should carry a minimum prison sentence of something akin to armed robbery or other criminal offences.

Avoidance (legal) is not evasion (illegal). There's nothing wrong with efficient tax planning, if governments want to clamp,down on it, change the rules and make earnings taxable where they are effectively earned instead of where they are notionally earned.

Saying that, it doesn't look good that Queenie's money generated a return by being invested, ultimately, in a company that screwed over poor people.

I'm not sure why Bono is in the headlines? For investing in a shopping centre?

smurgen · 06-11-2017 08:52AM

Jawgap wrote: »

lightspeed wrote: »

Maybe they all have the same accountant?:pac:

If tax evasion carried a mandatory lengthy custodial sentence maybe wealthy people would be more reluctant to avoid paying taxes.

We shouldnt have a system were wealthy people just pay some penalties along with taxes they should have originally paid.

Serious tax evasion should carry a minimum prison sentence of something akin to armed robbery or other criminal offences.

Avoidance (legal) is not evasion (illegal). There's nothing wrong with efficient tax planning, if governments want to clamp,down on it, change the rules and make earnings taxable where they are effectively earned instead of where they are notionally earned.

Saying that, it doesn't look good that Queenie's money generated a return by being invested, ultimately, in a company that screwed over poor people.

I'm not sure why Bono is in ùthe headlines? For investing in a shopping centre?

Here there for being a hypocrite.lecturing the worlds government on their spending while simultaneously contributing as little as possible.

Ri_Nollaig · 06-11-2017 10:05AM

smurgen wrote: »

Here there for being a hypocrite.lecturing the worlds government on their spending while simultaneously contributing as little as possible.

This,
I personally see nothing wrong with anyone wanting to pay as little as possible tax, everyone would do the same if they could. Tax avoidance might be morally wrong but its not illegal assuming this is not tax evasion ofcourse.

But you can't have it both ways, telling governments to cancel 3rd world debt while trying your best to pay them as little tax as possible.

Wanderer78 · 06-11-2017 10:09AM

Ri_Nollaig wrote:

But you can't have it both ways, telling governments to cancel 3rd world debt while trying your best to pay them as little tax as possible.

a lot of 3rd world debt is a bit of a scam in fairness, in fact so is most world debt.

Roger_007 · 06-11-2017 10:28AM

Everyone pays as little tax as they can legally get away with. Personally I claim everything I can to reduce my tax bill. I am doing nothing illegal. People with far more money than me do exactly the same thing. It is just a question of scale.
If some people are doing something illegal, that is different. It's up to the law enforcement agencies to deal with that.
I can't help thinking that most people who condemn the practices of the wealthy off-shore investors would do exactly the same if they were in the same position.

Wanderer78 · 06-11-2017 11:23AM

Roger_007 wrote: »

Everyone pays as little tax as they can legally get away with. Personally I claim everything I can to reduce my tax bill. I am doing nothing illegal. People with far more money than me do exactly the same thing. It is just a question of scale.
If some people are doing something illegal, that is different. It's up to the law enforcement agencies to deal with that.
I can't help thinking that most people who condemn the practices of the wealthy off-shore investors would do exactly the same if they were in the same position.

some goods points, but i suspect i ll never be in a position to test this, nor have i any interest in becoming wealthy. but of course id like to think i have a conscience.

Zebra3 · 06-11-2017 11:40AM

Richard Hillman wrote: »

QE2 doesnt have any "offshore" accounts. She is the monarch of Cayman and Bermuda. They are her islands to put her money into.

“Her islands”? Had no idea she owned them.

Wanderer78 · 06-11-2017 11:42AM

Zebra3 wrote: »

“Her islands”? Had no idea she owned them.

is she evading the property tax on that to?

bappelbe · 06-11-2017 11:47AM

Richard Hillman wrote: »

QE2 doesnt have any "offshore" accounts. She is the monarch of Cayman and Bermuda. They are her islands to put her money into.

she also doesn't pay taxes anyway - so there would be no tax liability to evade!
https://en.wikipedia.org/wiki/Finances_of_the_British_royal_family#Taxation

lazybones32 · 06-11-2017 11:56AM

Nothing illegal or immoral in tax avoidance. If i were a millionaire, i'd avail of every opportunity to prevent any Govt. from taking my money. Anyone reading this would do the same...

two wheels good · 06-11-2017 11:58AM

Paradise Papers is the correct title - not Panama Papers. Two different media reports.

Moderator please could you update the thread title. It might generate more interest and discussion.

Wanderer78 · 06-11-2017 11:58AM

lazybones32 wrote: »

Nothing illegal or immoral in tax avoidance. If i were a millionaire, i'd avail of every opportunity to prevent any Govt. from taking my money. Anyone reading this would do the same...

hard to tell, but i suspect i wouldnt. id completely disagree with your statement, tax avoidance is immoral.

blinding · 06-11-2017 12:03PM

Why doesn’t Bono Preach Tax avoidance / possible evasion to ordinary people .

This may be helpful to ordinary people .

Wheeliebin30 · 06-11-2017 12:12PM

Actually nothing illegal here.

Surprised a poll on the journal has 80% of people saying they would do the same.

The journal out of all places!

We like to get high and mighty in this Country about the wealthy, taxes etc.

Yet everyone would do the exact same thing.

c_man · 06-11-2017 12:18PM

So they used legal means to lower their tax? I don't think I know anyone who does different.

Jawgap · 06-11-2017 12:21PM

Wanderer78 wrote: »

hard to tell, but i suspect i wouldnt. id completely disagree with your statement, tax avoidance is immoral.

Are you a PAYE taxpayer and do you avail of any allowances?

Paradise papers

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