- published: 04 Mar 2017
- views: 51157
A story of money, secrecy and greed: a tax dodge for the wealthy dreamed up by one of the biggest accounting giants in the world KPMG Canada devised what it called an “Offshore Company Structure” for a select group of rich clients: they would claim to give away millions of dollars to a shell company supposedly out of their control and therefore wouldn’t have to pay taxes on it. In the U.S., top KPMG officials were convicted of tax evasion schemes concocted there. But in Canada, a different scheme led to a secret amnesty deal with the Canada Revenue Agency. A federal government inquiry vowing to get to the bottom of it went nowhere What was the accounting firm trying to hide? With revelations from industry insiders, internal KPMG documents and corporate records from the Isle of Man of...
"By funneling nearly $10 billion in revenue into a Bermuda shell company last year, Google dodged about $2 billion in income taxes worldwide, Bloomberg News reports, citing financial records. The off-shore tax shelter — legal in the United States and elsewhere — cut Google's tax rate nearly in half, Bloomberg says. Bermuda has no corporate income tax. Bloomberg says the amount saved was about 80% of the company's pre-tax profit."* Google has employed some pretty impressive tricks in avoiding paying their taxes, keeping $2 billion they should have paid in taxes worldwide. But don't worry, someone else will pay the bill. Us. Will the U.S. government crack down on Google? Cenk Uygur knows the answer. *Read more from Michael Winter/ USA Today: http://www.usatoday.com/story/tech/2012/12/10/...
A peek inside the world of shadowy tax havens. The full story here: http://bit.ly/QFuqkX
The world of offshore accounts, shell companies and tax havens extends far beyond the fictional legal thrillers you see on the silver screen. Offshore tax havens — countries or territories where taxes are assessed at a low or nonexistent rate — are very much a reality, and U.S.-based multinational corporations play a starring role in the real-life drama. According to a 2016 report by Citizens for Tax Justice, 367 companies in the Fortune 500 operate subsidiaries in tax-haven nations around the globe. Just like major corporations, individuals can take advantage of the web of financial loopholes and legislation that foreign countries offer. Click through to discover 12 of these tax havens, which might help you pay less on your tax bill this year or at some point in the future. BERMUDA Ber...
A former client of the accounting giant KPMG says a tax dodge that involved wealthy people gifting their money to an offshore jurisdiction was a 'facade' designed to hide money from the taxman Click here for the full story: http://www.cbc.ca/1.4006469 »»» Subscribe to The National to watch more videos here: https://www.youtube.com/user/CBCTheNational?sub_confirmation=1 Voice Your Opinion & Connect With Us Online: The National Updates on Facebook: https://www.facebook.com/thenational The National Updates on Twitter: https://twitter.com/CBCTheNational The National Updates on Google+: https://plus.google.com/+CBCTheNational »»» »»» »»» »»» »»» The National is CBC Television's flagship news program. Airing seven days a week, the show delivers news, feature documentaries and analysis ...
SUBSCRIBE to ELITE NWO AGENDA for Latest on USD COLLAPSE / GOLD / SILVER / BITCOIN / NEW WORLD ORDER / ILLUMINATI / TAX HAVEN http://www.youtube.com/EliteNWOAgenda LEGAL WAYS TO AVOID PAYING TAX - The Super Rich Elite are Doing It, So Why Dont You? Don't take an income Selling assets and realising capital gains could give you a source of cash if you needed it, and careful planning so losses in previous years offset any gains could help reduce your capital gains tax bill. Give to charity This is one of the strategies the government is planning to crack down on, although its plans have attracted controversy and could be watered down as a result. Currently, if you give assets to charity you can claim income tax relief up to their entire value. The government's own Directgov website gives ...
http://www.thepanamalawyer.com Detailed explanation of who has already moved to Offshore Business Model.What are the benefits of an Off shore company in Panama and why consider Panama as one of the Worlds best Tax Havens
Dave and his panel discuss "Are you with America or The Cayman Islands?" ►►Subscribe to Rubin Report for more: http://www.youtube.com/subscription_center?add_user=RubinReport Dave and his guests discuss the startling facts that Sen. Bernie Sanders presented in his article on The Huffington Post. How should we feel about our banks going "offshore" to avoid paying U.S. taxes? Is this the new American way of doing business? -In 2008, Congress approved a $700 billion gift to Wall Street. Another $16 trillion in virtually zero interest loans and other financial assistance came from the Federal Reserve. -In 2010, Bank of America set up more than 200 subsidiaries in the Cayman Islands (which has a corporate tax rate of 0.0 percent) to avoid paying U.S. taxes. On top of that, they received a ...
How a corporation can set up a tax haven and use it through transfer pricing. Created by Sal Khan. Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/taxes-topic/corporate-taxation/v/is-limited-liability-or-double-taxation-fair?utm_source=YT&utm_medium=Desc&utm_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: In exchange for being treated as a person-like-legal entity (and the limited liability this gives for its owners), most corporations pay taxes. This tutorial focuses on what corporations are, "double taxation" and a few ways that multinationals might try to get out of paying taxes. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboa...
This presentation will provide examples of how tax havens work including references to the Panama Leaks. The presentation is about solutions including involvement of all countries around the world as part of stronger banking regulations as well as tax treaties. The presentation will talk about the UN and its needs to provide more oversight and audits when it comes to foreign aid.
I try to explain how offshore tax havens are used to minimise the amount of taxes a corporation pays.
Apple rejects ‘Paradise Papers’ allegations that it abused offshore tax shelters. Apple, the world’s most valuable company, finds itself once again at the center of an international controversy about the ways U.S. corporations use international tax havens to dodge their tax bills. In a detailed response to allegations published yesterday as part of the “Paradise Papers” project, Apple insisted that it pays its fair share and follows the law. “Apple believes every company has a responsibility to pay its taxes, and as the largest taxpayer in the world, Apple pays every dollar it owes in every country around the world,” the company wrote. “We’re proud of the economic contributions we make to the countries and communities where we do business.” As Apple has experienced astonishing success ov...
Tax havens play an important role in the globalization of capital markets, but also threaten their stability and structure. What are the properties of tax havens? How profit private persons, companies and the organized crime from tax havens? Video transcript and images: http://explainedwithmaps.com/tax-havens/
The Emirate of Ras Al Khaimah is one of the most interesting jurisdictions for the formation of an offshore company. Setting up a offshore company in the United Arab Emirates, like a RAK offshore company offers endless possibilities for international entrepreneurs and investors. Our experienced team would be glad to assisting you with the UAE company formation and with an offshore bank account. Dubai Offshore banking is an excellent solution for net-worth individuals seeking an offshore bank account in one of the most stable and well known jurisdictions. Especially, the Emirate of Ras Al Khaimah (RAK) offers very forward thinking and future-proof solutions with RAK Offshore companies and RAK Freezone companies. A Ras Al Khaimah Company is an excellent tool for international business and b...
The so-called "Paradise Papers," a leak of 13.4 million files, have named people and companies from around the globe who shelter their wealth in tax havens ‒ a practice blamed for draining billions of dollars from national coffers. RT America’s Alex Mihailovich names the names listed in the leak. Find RT America in your area: http://rt.com/where-to-watch/ Or watch us online: http://rt.com/on-air/rt-america-air/ Like us on Facebook http://www.facebook.com/RTAmerica Follow us on Twitter http://twitter.com/RT_America
Over the last two years Justin Trudeau has demonized hardworking Canadians, branding local businesses, farmers, and waitresses as “tax cheats.” At the same time, Trudeau and his wealthy Liberal insiders kept their “family fortunes” protected. The Paradise Papers and Stephen Bronfman exemplify Justin Trudeau’s hypocrisy. Trudeau's well-connected Liberal friends get away with paying less, and Canadians pay more. There’s nothing fair about that. So today I asked the Prime Minister some straightforward questions about his connections to the Paradise Papers.
Queen Elizabeth invested private funds in offshore tax havens and this was exposed after the “Paradise Papers” emerged. Based on the leaked documents, the British Queen has millions of funds stored in the Cayman Islands and Bermuda. SHARE AND SUBSCRIBE PLEASE, FOR UPDATING THANKS ---------------------------------------------------------------------------------------------------------- Thanks For Watching 🎥 Follow my link below down please for get updating new video ------------------------------------------------------------------------------------------------------- Please contact us on email: email@example.com if you want to feedback or give us idea, Cb Channel will reply 24h ===================================================== Follow My G+ please: https://plus.google.com/110...
CINCINNATI (WKRC) - Procter & Gamble finds itself caught up in the leak of the "Paradise Papers." The documents expose the offshore tax secrets of the rich, as well as large companies. Dutch media reports officials there signed off on an agreement to help P&G divert profits to the Cayman Islands. The report says that saved the company $169 million. The government in the Netherlands has opened an investigation. P&G says it did not avoid paying taxes.
A tax haven is a jurisdiction where particular taxes, such as an inheritance tax or income tax, are levied at a low rate or not at all. It may also refer to a state, country, or territory which maintains a system of financial secrecy, which enables foreign individuals to hide assets or income to avoid or reduce taxes in the home jurisdiction. Earnings from income generated from real estate (i.e. by renting property owned in an offshore jurisdiction) can also be eliminated in this way. If taxes (if any) are paid in the tax haven jurisdiction, companies can avoid taxes in their home jurisdiction because the tax had already been paid in the lower tax rate jurisdiction. Some taxes (such as inheritance tax on the real estate, VAT on the initial purchase price of the real estate, or transfer tax...
You're not going to believe my interview with economist James Henry on the $30 Trillion dollars in tax havens! Some of the highlights: Tax havens are being used to hide and house 15% of the world’s wealth. Shell companies are being used off shore so that corporations avoid paying taxes. Representation without taxation. We tried inflation, debt and privations but the only way to support a society is taxes. It’s not a Global Mafia: it’s worse, the rich and corporations have created laws to support their ability to evade paying taxes. The difference between tax shelter and tax evasion is a jail cell. Since the recession the top 1% is not only making insane profits but avoiding paying more and more taxes. A Great Society cannot survive without having the means to support it and a regressive ta...
President Obama discusses the ongoing "Panama Papers" leak that details various world leaders' egregious use of offshore tax shelters to hide trillions of dollars from governments. Reflect on Twitter @ReflectVideo Reflect on Facebook http://on.fb.me/1Oi1dbH Check out our site ReflectVideo.com Check out our site http://www.ReflectVideo.com Subscribe to Reflect's YouTube Channel: https://www.youtube.com/c/ReflectNews?sub_confirmation=1
Another vacant building is a tax shelter and nothing more
Cemented doors and windows keeping out the poor
What purpose does it serve to keep these buildings emply
Destroying our community to protect abandoned property
Functioning as financial loopholes instead of the housing they could make
Because those owning empty buildings claim a generous government tax break
So is housing just a luxury to b enjoyed by the upper class
Another right you don't deserve if you haven't got the cash
The trouble with ruling class financial tactics
Is that it's the people who need shelter not their taxes
Destruciton described as progress evicting people from their shelter
Renovating and rebuilding under the guise of making cities better
But who does this progress better by putting people in the street
Has it benefitted the community when construction is complete
Housing is not a privledge, not a luxury but a right
communities don't function any better with their problems out of sight
Our communities consise of more than concrete, brick and steel
It's made up of people including the homeless they conceal
The trouble with ruling class financial tactics
Is that it's the people who need the shelter not their taxes
Every inch of established land got that way by means of force
And by paying rent were forced to contribute to that source
With our communities our people suffer under this establishment
It's not about housing these are human rights they make us rent
Only the landlords profit as our lives are sold and bought
And those who fight this process get evicted from their squat
So while our leaders carry out these unjust squat evictions
They prove that freedom can't exist under capitalist conditions
The trouble with ruling class financial tactics