amor Posted November 29, 2012 Group: Removed from Forums for Breaking Terms of Service Followers: 1 Topic Count: 13 Topics Per Day: 0.00 Content Count: 2,194 Content Per Day: 0.30 Reputation: 34 Days Won: 0 Joined: 06/18/2004 Status: Offline Share Posted November 29, 2012 They didn't leave they just got their accountants to be more creative. As to where billionaires go, well an awful lot from various parts of the world actually end up in London. Partly because it's safe and to some degree because it's fashionable at the moment. And whilst they might not go to the Isle of Wight lots of their cash ends up in the Isle of Mann and indeed other British possesions scattered around the coast and around the Oceans of tthe world which have their own generous tax regimes and secretive bankers. Link to comment Share on other sites More sharing options...
Ohio Royce Posted December 2, 2012 Group: Members Followers: 0 Topic Count: 0 Topics Per Day: 0 Content Count: 5 Content Per Day: 0.00 Reputation: 1 Days Won: 0 Joined: 05/13/2007 Status: Offline Share Posted December 2, 2012 I read the biography of three time formula one world champion Sir Jackie Stewart and in his story he told of how the tax rate at that time in his native Scotland was over 90 percent. He realized that the career of a formula one driver is only a few years, so he needed to put money away for his "retirement" years and such. Therefore, he moved to Switzerland to get away from the high tax of Scotland. I have also noticed a number of formula one drivers today have moved to Monoco. It is my understanding that the tax rate in Monoco is very low or non-existent on certain types of income. Of course these drivers could be moving to Monoco for other reasons as well. Link to comment Share on other sites More sharing options...
ncn Posted December 2, 2012 Group: Graduated to Heaven Followers: 6 Topic Count: 406 Topics Per Day: 0.09 Content Count: 5,248 Content Per Day: 1.13 Reputation: 1,337 Days Won: 67 Joined: 08/07/2011 Status: Offline Share Posted December 2, 2012 It is my understanding that the tax rate in Monoco is very low or non-existent on certain types of income. Of course these drivers could be moving to Monoco for other reasons as well. Actualy that is a myth. If I'm not mistaken the book was written in 2007. Since then times have changed in Europe. Firstly, the Principality is not a "tax-free" territory. All residents pay tax in the form of 19.6pc VAT on all goods and services. Indeed, as the Monegasque VAT system is shared with France, it could even be said that Monaco's residents pay some French tax. Furthermore, corporations face a 33pc tax on profits – unless they can demonstrate that three-quarters of company turnover is generated within the confines of the principality. In addition, unlike those jurisdictions justly labelled offshore tax havens, Monaco does not offer so called "offshore financial services", nor does Monegasque law permit or facilitate the registration of offshore corporations looking to operate in such a way as to avoid paying tax in other jurisdictions. http://www.telegraph...-tax-haven.html Link to comment Share on other sites More sharing options...
ncn Posted December 4, 2012 Group: Graduated to Heaven Followers: 6 Topic Count: 406 Topics Per Day: 0.09 Content Count: 5,248 Content Per Day: 1.13 Reputation: 1,337 Days Won: 67 Joined: 08/07/2011 Status: Offline Share Posted December 4, 2012 I thought this was a thread about , "2/3's of Britain's Millionaires leave to avoid taxes" Perhapse they got hijaked on the way Link to comment Share on other sites More sharing options...
GoldenEagle Posted December 5, 2012 Group: Royal Member Followers: 4 Topic Count: 764 Topics Per Day: 0.18 Content Count: 7,626 Content Per Day: 1.80 Reputation: 1,559 Days Won: 44 Joined: 10/03/2012 Status: Offline Share Posted December 5, 2012 I thought this was a thread about , "2/3's of Britain's Millionaires leave to avoid taxes" Perhapse they got hijaked on the way Good point NCN. I have created a separate thread for the Union comments... See:http://www.worthychristianforums.com/topic/159445-split-unions-etc-from-23s-of-britains-millionaires/ My apologies joi and to others on this thread. Please continue with the OP - 2/3 of Britain's Millionaries leave to avoid taxes. This thread is about taxes. God bless, GE Link to comment Share on other sites More sharing options...
joi Posted December 7, 2012 Group: Royal Member Followers: 1 Topic Count: 506 Topics Per Day: 0.11 Content Count: 1,922 Content Per Day: 0.41 Reputation: 173 Days Won: 4 Joined: 06/12/2011 Status: Offline Author Share Posted December 7, 2012 Chuckt, that was what I read into the op. Thanks for bolstering the post. Link to comment Share on other sites More sharing options...
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