"But leaving the EU doesn't help - that was my point. The EU has done more to try and regulate tax havens than the British government ever has. If people voted as a protest against the elite, they have achieved nothing. I personally know two people who voted Leave for that reason - one is an wannabe anarchist and the other a hedge-fund manager. I don't identify with either."
From a post by daphne.
www.taxresearch.org.uk/Blog/2016/07/02/the-us-has-agreed-on-country-by-country-reporting-rules-for-multinational-corporations/
www.taxresearch.org.uk/Blog/2016/06/29/we-got-so-close-to-country-by-country-reporting-in-the-uk-yesterday/
"Much more likely, all the UK’s tax havens who are at present largely protected from EU sanction by our membership will be subject to them, and most EU countries will be only too happen to place restrictions on these places for two reasons. One is the harm they cause. The other is that everyone knows that they are the soft underbelly of the City of London: this is where the attack on the City will be mounted. Brexit and leaving the single market could be very bad news indeed for the Crown Dependencies and Overseas Territories.
What is more, the UK will also be vulnerable because, quite surprisingly, it does not have double tax agreements with almost half of the EU’s member states. Tax deduction at source before money ever reaches London may be much more common than people realise as a result. I am grateful to Vanessa Houlder for pointing this out.
What surprised me was how popular the line against tax havens was. If they had friends at the event they were not putting their heads above the parapet. No one put forward the argument that tax havens were going to have a new field day, although what was agreed was that they still are. Howard Bilton’s claim that they are well regulated places and that Mossack Fonseca was the bad apple in the barrel was met with the scepticism both claims deserved."
From a third article. The UK as a tax haven? Perish the thought. Who in government would want that?
🦞 The Lockdown Gang still chatting 🦞
What did you you think you would have by your current age that you don't?



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