Posted on 05/22/2013 11:29:08 AM PDT by Olog-hai
The European Union’s leaders have agreed to push through a major policy to tackle tax evasion by the end of the year.
The EU said the 27 heads of state and governments agreed at summit in Brussels Wednesday to an automatic exchange of bank information among the bloc’s tax authorities to catch tax cheats. …
European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations’ tax avoidance schemes. …
According to a draft summit conclusion obtained by The Associated Press, the leaders are urging rapid progress in the “efforts taken against aggressive tax planning, profit shifting, lack of transparency and harmful tax measures to be pursued globally,” vowing to lobby for more international cooperation on the matter. …
(Excerpt) Read more at hosted.ap.org ...
On the same day McLame et. al. hold a hearing on Apple's LEGAL “tax avoidance schemes”
Never a thought of possibly reducing taxes to less onerous levels to encourage economic growth.
Idiots.
They’re not about to abandon the social market economy. The European Union, like the USSR, is driven by ideology.
But....But....Free Trade woooorrrrkkss. Look at the EU
When the EU members dump Free Trade and the EU....only then their economies will improve
If you ever get a look at the treaties that are essentially the EU’s constitution, you’d see what an abomination it really is. Centrally-planned economy is just the tip of the iceberg.
The EU doesn’t have Free Trade. The EU is a customs and tariff union.
EU members face heavy barriers to trading outside of the EU. Internally they havge to deal with formidable Government intervention in the form of subsidies and vendor-financing to protected industries.
The Euro in particular is a statist strait-jacket designed to remove competition and economic freedom. Countries in the Eurozone cannot deprice their currency to make themselves competitive - and currency is half of every transaction.
International finance, new world order, etc., controls the EU.
They will always maintain tax shelters in government laws.
They have politicians in their pocket so they can always get laws and regulations quietly slipped through. Where they close one loophole they open another.
They use the issue of tax evasion as political fodder for the left (the leadership of which they control) to jump up and down about and get MORE laws passed. Invariably, upon closer inspection - voila ! The laws actually HELP international finance.
The Apple case is classic, for the piece inc’d in Ireland, much of it has no nation in which its taxable income.
But Apple sells products to government (just do a quick web search).
So Apple TAKES tax dollars as sales, but wants to avoid paying taxes to the same government as much as possible.
In order to not consolidate income of subsidiaries, a corporation has to file a statement that they do not forsee bringing the capital or its returns back to the US.
Of course, what that really means is not until they are presented with an opportunity to bring it back to the US without paying US taxes on the income.
Shareholders love it, the investing public, completely confused, loves it. They don’t see that although they benefit from investment gains because of this, in reality they as individuals probably are unable to avoid income taxes, thus if they are successful at investing they wind up paying at least 15% income tax - eventually - on what is distributed to them. Of course wealthy folks are able to avoid income tax to a large extent via professional tax planning. But most of the voting public just works and pays.
Legislators should have NOTHING to say about companies that avoid income tax really, because THEY passed the laws.
Legislators work on behalf of big finance, no one else.
The whole NWO schtick is actually in reverse here, which is the reality. The EU controls a lot more than people think.
If by “American establishment” you mean the liberal establishment, who aren’t very American-oriented (they’re more European-oriented), that builds the case for the stronger EU influence.
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