Quote:
Originally Posted by aoFrantic
yeah kw, that's an awful, awful idea. It's basically the "you can't catch everybody, why not just eliminate all the laws" approach.
I'm not suggesting, no tax. I'm suggesting following the same structure of tax havens. Where income tax is a flat rate. There has been loads of reports saying the vast majority of sportsmen are involved in these deals to avoid tax.
I personally don't think it's fair if you earn >43k per year you get 40% where as under it it's only 20%. It's like you're getting punished for being a high earner.
Like I say, I'd like to see the maths in it. If everyone is paying 10%. Rather than the 50% bracket people avoiding it at all cost. Or companies being registered elsewhere to avoid tax but being taxed in their tax havens.
You'll have people/companies fiddling the books so that they don't appear to be making as much, again to avoid tax.
Apple has that deal with Ireland for example, that's worth billions per year.
Quote:
Originally Posted by ChrisV
Nothing wrong with a simplified tax. Estonia is doing fine with a flat tax. No reason for it not to be bracketed tho. Problem is deductions, diff rates on diff types of income, etc etc
Yah, be interesting too see if it'd make a difference.