posted on Jan, 31 2014 @ 01:38 PM
Correct me if I'm wrong, but I thought offshore accounts only able you to avoid the tax on your bank account or interest gained through the bank(?)
So anybody who has a offshore account is merely looking for investment opportunities and doesn't want to be taxed on the money that's already been
The majority of people who have offshore bank accounts are middle class people and of course the super rich. But if these people live in the country
they work, then they are been taxed already, offshore account doesnt allow them to avoid tax on their salaries/bonus' - Putting the money into the
offshore account is only stopping the extra taxation on the interest gained(?) Again, please correct me if I'm wrong.
If I was a wealthy individual, then I'd also put my taxed money into an account where they can't get their dirty hands on it (again)
I think the problem we have is these huge profits companies are making. I'm all for people earning a few hundred grand a year or self made
millionaires - That's all fine & dandy. But when you have corporations earning 20/30/40 billion a year and avoiding tax...That there is the real
I kind of see this offshore account commotion as a bit of a distraction. You'd be surprised to find out who actually uses offshore bank accounts.
Allot of people have the misconception that offshore bank accounts are in some palm tree lined, coconut filled beach haven somewhere is the
Mediterranean. But offshore bank accounts are merely banks outside where one is living, so for me living in England, I could use one relatively close
to me which is the Isle of Man. The offshore bank just offers better interest rates & no taxation - Which to me is something that would appeal to me
given the current economical climate.
We need to stop letting huge corporations get away with not paying tax, stop spending money on # we don't need & on funding disturbances in some
foreign land. That way we can bring down the tax & people would actually start to trust their own #ing banks & government.