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Now this is tax avoidance - Greek style

Community Veteran
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Registered: 15-06-2007

Now this is tax avoidance - Greek style

http://www.eureferendum.com/blogview.aspx?blogno=82989
Quote
But there is another side to these hard-luck stories. Die Welt is reporting that "allegedly poor Greeks" have been depositing huge sums of money in foreign accounts. The most glaring case, according to a report in Athens newspaper Ta Nea is of a man who told the Inland Revenue he had zero income yet managed to deposit €25 million abroad.
This newspaper has published a copy of the list of alleged offenders, held by the Bank of Greece, authenticated by the Ministry of Finance. In 2010 alone, 731 Greeks have transferred nearly one billion euros to other countries, including the UK, Switzerland and Cyprus. Yet, according to their tax return, 403 of them were poverty-stricken.
7 REPLIES
Community Veteran
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Re: Now this is tax avoidance - Greek style

Greece could wipe out much of it's debt overnight by getting every citizen who was wealthy (owned fancy houses, yachts,money in foreign accounts) to explain where that money had come from and if they failed to do so the money would be confiscated and used to pay the debt.
There will be a lot of ordinary Greeks who have paid their fair share of taxes over the years and they are the ones who are suffering and will continue to suffer the most.
Community Veteran
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Re: Now this is tax avoidance - Greek style

Surely this is normal the rich get richer and the poor get shafted stuffed.
zedingrove
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Re: Now this is tax avoidance - Greek style

Yep I have a pal who has a shop in Portobello Road and one of his clients is currently on trial for fraud. He was a Hedge Fund Manager and is accused of defrauding his client to the tune of £25,000,000. So what? Well the trial is expected to go on for a least a year, he is getting legal aid and lives in a house which my entire flat could fit in his living room.
Apparently he does not have £10 to his name, as everything is in his wife's name and has separated from him only allowing him to live in the house......So on
Money has never been recovered is believed to be in Swiss accounts?
The trial is expected to cost the tax payer a cool £5,000,000
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Re: Now this is tax avoidance - Greek style

http://www.guardian.co.uk/sport/2011/oct/13/rafael-nadal-uk-tax-queens
Quote
The world No2, Rafael Nadal, will not play at next year's Aegon Championships at Queen's Club, his traditional warm-up event before Wimbledon, due to the UK's tax demands.

"When the tax gets tough the rich get going"
Community Veteran
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Registered: 12-08-2007

Re: Now this is tax avoidance - Greek style

@journeys, the information on Nadal refers to 2012 and not next year.
our tax rules in this instant are wrong.  Players have no argument paying tax on money earned in the UK but there can be no right to demand it is also paid on worldwide royalties.
Community Veteran
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Re: Now this is tax avoidance - Greek style

@artmo:- Thanks for the correction, must admit I didn't check the facts Sad
Community Veteran
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Registered: 12-08-2007

Re: Now this is tax avoidance - Greek style

No worries.  I assume a similar situation could occur next year.  The Halle like to sign their players to 3 year deals so Nadal may have committed already.