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I don't understand rich person taxes, but are you taxed in the country you reside in for earnings rather than the country they were earned in?
EDIT: Or scrap income tax completely, and only tax money spent or taken out of the country.
Not necessarily, governments try to reduce tax avoidance all the time by closing the loopholes that are used to legally wriggle out of paying your fair share. Alas there's always another loophole to find.You mean cutting out tax evasion. Tax avoidance is perfectly legal, why pay more tax than you should?
Not picking on you Wizzard, honest but I'm pretty sure that's not true at all. If you're permanently based abroad, then you pay tax in the country you live and earn in. I certainly didn't get a UK tax bill when I was living in Australia (& when you think about it why should you pay tax on the same income twice?). If you're living abroad and earning in the UK then you will still have to pay, or if you're living in the UK and earning abroad.I believe if you live in a foreign country and you still have a UK passport, then you have to pay taxes to the HMRC. As you're still domiciled over here, so it wouldn't matter where you worked, you would still pay taxes to the HMRC.
How about a transaction tax in its place. Move money from one investment to another and you get taxed. Low level of tax on each one, but the more transactions you make the more you pay
All the best
Keith
Sigh.... tax tax tax tax tax - let's stop spending instead!!!
That sounds a bit like a Poll Tax - I'm sure that somebody may have tried that once...Council Tax based on how big your house is is a nonsence, each person should pay their fair share or there should be a local Income Tax!
Twice - my calculations, based on the time difference between the first and second, anticipates the next attempt some time in the 2580's...That sounds a bit like a Poll Tax - I'm sure that somebody may have tried that once...