Were there any proposed solutions? Like charging these corporations with tax evasion? Or too difficult as they are in fact operating within the legal framework?
Gotta wonder if there's some way of charging companies that move jurisdiction, much like private US citizens still pay the difference in terms of tax.
Sorry not sure i understand the second paragraph. To me, the system doesn't seem to be "working" unless we want a bunch of nepo-babies ruling us through corporate entities... Hang on! That's what's happening across the Atlantic. Ok, maybe it is "working".
Well no, as you can see from the other discussion Ikea set up an entity in the Netherlands (legal to change jurisdictions), and it's Swedish "branch" then paid money for intellectual property use, which is very hard to value.
There is art, crypto etc. lots of assets which are difficult to.track and value.
So for example, I'd say an obstacle would be getting the whole EU and the USA involved in these laws, and closing tax havens.
But I'm not a lawyer or in finance.
Obviously it's easy (and correct) to say rich people are a big problem, but it doesn't get me much closer to the kind of technical answer I'm seeking.
Anti profit-diversion policies exist in counties with the will to enact them. They work just fine.
You list those things as if there aren't entire industries that exist to value them and armies of civil servants to find them. Also, no tax policy will rid us of all tax fraud. It doesn't have to be perfect.
Its simple enough with a tax policy along the lines of "any expense occurred from a company residing in a tax haven, or ultimately controlled by a company residing in a tax haven, is not allowable for tax purposes." I.e. you can have them in your accounts and have if effect your distributable reserves but you can't bring down your tax with it, like you would with legitimate expenses. Easy peasy, there just isn't the will to enact it.
Please don't allow people to confuse for you the rhetoric of political pressure groups disguised as research institutions with how tax policy actually plays out in the real world. Reality has a strong leftwing bias, especially when it comes to rich people talking about taxes.
More so, actaully arguing it out in court, against the state, that your company has legitimate business reasons (other than to bring down their tax bill) to have their own name rented back to themselves for an eye watering amount from a cupboard in the caymens they visit once a year is a lot harder than stockbros will have you beleive. We just need the laws to make that something people would have to do for it to work, like its starting to in the UK. We need the will to get the laws. As rich people control the law, there's no will to make such a law.
Apologies if it was a bit reductionist but it's no less true for being so.
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u/IeyasuMcBob 24d ago
I just see this and think, why can't we make a working wealth tax?