Posted on 02/09/2015 11:57:20 AM PST by Olog-hai
The European Commission is hoping that a new global reporting standard will eradicate tax evasion and tax fraud in the wake of the latest revelations in Switzerland.
“We are hoping that the coming into force of this new agreement at the very latest by 2018 will put an end to tax evasion and fraud by the use of secret bank accounts,” European Commission spokesperson Vanessa Mock told reporters in Brussels on Monday (9 February).
The EU and Switzerland negotiated an agreement on the taxation of savings back in 2014. The plan is to unravel the Swiss tradition of banking secrecy with the Swiss authorities only sharing information about hosted offshore accounts if they receive an official request from foreign tax authorities.
The agreement is now being updated to include a new global standard put in place by the finance ministers from the G20 of industrial nations and the Paris-based OECD. …
(Excerpt) Read more at euobserver.com ...
It will result in universal oppression.
I think the real problem is the government’s addiction to tax money.
Being a “social market economy” from its inception makes the EU the same as those unfortunate babies born addicted to the drugs that their mothers took, i.e. in terms of craving tax lucre.
You know, if Russia were more trustworthy, it would have a serious business opportunity.
Is there anything to stop the gov from tracking the flow of bitcoins so they can tax what they're being spent on? And aren't they stored on computer?
I would think that as governments get greedier, more wealth will be stored in "stuff" of value....gold, silver, old coins, fine art etc. And a real good safe to hide money in.
Fatca is were this got traction. If the dems would not have used fatca as a bludgeon on other nations no one would have been able to get this to happen.
If there is money to be made resisting this then there will be countries that oppose this nonsense and make a killing.
Bitcoin is a virtual currency that uses a distributed accounting system with no central server. Encrypted accounting information is distributed onto all the computers of people using it. This is why the government can't track it or control it. To use Bitcoin you create an encrypted wallet on your computer. You can exchange Bitcoins with other Bitcoin-owners through your wallet and theirs.
There are a lot of problems with Bitcoin as it exists. Just today this article appeared.
Hong Kong bitcoin exchange disappears with £254 million (02/09/2015)
I like the idea of Bitcoin. I don't trust it enough to use it myself yet.
There are other virtual currencies like Bitcoin out there. I don't trust them yet, either.
Thank you for the encouragement.
Yeah.
Good luck with that.
Yeah but they can make it illegal for any business to accept it thereby rendering it pretty much worthless.
Or they could just kill everybody.
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