For reputational sake, we really need to PLUG any LOOPHOLE about any overseas aliens setting up any kind of "Trust" here, be it a company or a personal trust sort of. It's all about respect first and foremost.
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For reputational sake, we really need to PLUG any LOOPHOLE about any overseas aliens setting up any kind of "Trust" here, be it a company or a personal trust sort of. It's all about respect first and foremost.
Hmm - I guess I agree based on ethical considerations that it would be preferable to avoid to profit from the proceeds of crime and tax avoidance.
However - there is fine line to hypocrisy. As a country (and initiated by Labour) are we happy to be in business with mass murderers (the Chinese regime kills more people per year than all other crooks in government together), we are happy to make deals with regimes ignoring the most basic human rights (Saudi Arabia and China, of course). We are happy and proud to be in business with basically any corrupt and murderous regime (no matter whether this is Belarus, some Banana republic or some African despot).
I suppose - this must be o.k., given that governments of all colours proudly supported all of above. Given all that - is doing business with some people who might try to reduce their tax bills or hide some money from whoever really the worst thing which could damage our reputation?
As well - look at Switzerland, they basically live from hiding other peoples money (some of it probably legit, some of it certainly not) ... did this ever hurt their reputation?
And regarding saving taxes .... I guess the Irish have (rightly or wrongly) a reputation for eating potatoes and drinking whiskey ... but do they have a bad reputation for helping companies to save taxes?
I really think that there are more pressing matters to safeguard our reputation ...
It very different BP. These trusts could be hiding or laundering the very proceeds from this type of activity.
Also you could almost add every country in the world to that list.
US has probably killed more innocent people since WW11 than any other country.
The illegal Iraq war, detainment without charging people.
Illegal drone strikes that we hardly ever hear about.
Even Australia has started this very dubious practice with some Kiwis having been caught up in it.
Can anyone remember when the world wasn't regarded as being in some kind of mess or peril?
In my own time there's been the 2nd WW, the Korean war, the cold war, numerous economic and/or financial crises, an untold number of undeclared wars, atrocities, minor and major massacres. I'm just thankful to have been born and lived most of my life in Godzone!
:mellow:
A quick youtube tune from the UK. Does this look familiar?
https://www.youtube.com/watch?featur...&v=vbLGG5UGEKw
FP, what definition did you apply to "Tax Haven" to come up with that response? A fairly loose one, I think. That's a lie, basically.
Just because we don't pop up on the list like BVI or Cayman Islands, doesn't mean we aren't doing our bit for foreign tax dodgers and money launderers.
http://www.nzherald.co.nz/business/n...ectid=11618057
And this site - they say that NZ isn't a tax haven, and then go on to describe how it all works very effectively as a tax haven, 'without the stigma'.
http://www.trust-nz.com/en-nz-as-offshore.html