Thursday, May 23, 2013

UK taxpayers pay for the rich’s greed...

Tax avoidance by definition is generally the legal exploitation of the tax regime to one's own advantage, attempting to reduce the amount of tax that is payable by means that are within the law.

Tax offenders exploit loopholes in the law to remove income or assets from taxable situations into ones with lower taxes or none at all.

Similarly, Britain’s highly abusive tax loopholes allow wealthy individuals & organisations to evade their tax burden, making the most vulnerable people in the society bear the brunt of spending cuts and pay for the rich’s greed.

But who are the UK’s biggest tax evaders, depriving British people of millions of pounds that could be spent on public services?

In December 2012, Britain's HM Revenue and Customs (HMRC) and the Public Accounts Committee (PAC) were called on to probe suspected tax avoidance by the heir to the throne Prince Charles’s £728 million hereditary estate, the Duchy of Cornwall. Full story...

Related posts:
  1. British royal family’s spending of taxpayer money slammed as ‘a disgrace’
  2. Prince Charles gets more taypayer money, but pays less taxes...
  3. Why are the Queen, wealthy people and corporations receiving EU farm subsidies?
  4. Taxpayer shell out nearly $3.7million for ex-presidents...
  5. Cost of Prince Charles rises to £2.2m...
  6. Apple avoids taxes on $74 billion with ‘complex web’ of offshore entities...
  7. 'Google is cheating British taxpayers out of millions...

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