Posted on 03/21/2011 4:38:35 PM PDT by Signalman
The convoluted, Rube Goldberg-worthy process described below, which affords preferential treatment to those who invoke Sharia, lends itself to any number of foreseeable abuses. Here is one. "Islamic law used to dodge stamp duty," from the Daily Express, March 21 (thanks to Twostellas):
Sharia law is being used by house buyers posing as Muslims to dodge stamp duty, it was revealed yesterday.
A scheme, brought in by Labour in 2005, allows followers of Islam to buy property without paying the tax.
Paying interest is banned under Sharia law, so Muslims are allowed to buy a house and then sell it on to an offshore financial company.
They then lease the house from the company instead of taking out a mortgage, which would include interest payments. Stamp duty, which is applicable to all properties worth £125,000 and over, does not have to be paid on properties which are immediately sold on.
But the loophole, which costs the Treasury £40million a year, is now being used by some who pretend to be Muslim.
Sultan Choudhury, from the UK Islamic Finance Secretariat, said: “It was certainly not envisaged that some tax advisers would manipulate the legislation on behalf of their clients to avoid paying stamp duty at all.”
This is a Jizya or a tax on non-muslims which is what ObamaCare is. Muslims are exempt.
Salami Salami Baloney.
I see nothing wrong with this at all. If anything, the best way to get discriminatory laws like these repealed is for everyone to take advantage of them.
“Salami Salami Baloney.”
LOL. Hadn’t heard that one in a long while...
While Muslims may have been the cause of the law being created, the tax benefit should be, and probably is, available to anyone reselling their property to an overseas company.
From old Cartoons.
“But the loophole, which costs the Treasury £40million a year, is now being used by some who pretend to be Muslim.”
And the problem is because he owns two dogs and eats chops and gravy on Fridays?
That may make sense for the first buyer, but if it's immediately sold on, why doesn't the second buyer pay the tax?
Sounds like an law writing error that created the “loophole”...:^)
I bet it wasn't. The law of unintended consequence strikes again. In the real world, it was obvious something like this would happen. The one thing all liberal secularist humanists have in common is a naive misappreciation of Human nature.
If people want on or off this list, please let me know.
It's so horrible watching their slow-motion suicide.
The Celts, the Romans, the Saxons, the Normans, the Men of Poitiers, Crecy and Agincourt, the Fleet that fought the Armada, the men of Nelson's fleet,the squares at Waterloo, the heroes of Isandlwana and Rourke's Drift, the veterans of the Great War, the heroes of Dunkirk and the Battle of Britain - all that glory and heroism wasted on a family of degenerate Windsors who have overseen the collapse of a once great nation, and the present generation of Britons standing around and staring witlessly at the embers of destruction created by the followers of a mad desert rapist, pedophile, slaver and lying hallucinating bandit who have landed in their midst.
It makes me so angry and I'm not even a Briton.
It’s so good to “see” you!
“Sultan Choudhury, from the UK Islamic Finance Secretariat, said: “It was certainly not envisaged that some tax advisers would manipulate the legislation on behalf of their clients to avoid paying stamp duty at all.”
*UK Islamic Finance Secretariat*?
What the heck is that?
They didn’t believe that some would manipulate the law to benefit themselves?
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