$21tn hoard hidden from taxman by "global elite"

[richardhutnik]

SamuelRSmith said:

Kasz216 said:

richardhutnik said:

Kasz216 said:
It's why taxes and investments should be levied in the countries they do business in. Not the countries they operate from.

Please clarify how you differentiate do business in from operate from.  I am not sure which one you are referring to as a legal context, vs where businesses buy and sell or produce.

How the majoirty of tax law works now is that if you own a buisness in say... france... and make sales in the US.   You would pay taxes on your profits in the US.

You own investments in the UK, you pay taxes on it in the US.

It's easy to dodge local US taxes by moving your company to dubai.

Hard to dodge the entire US market.

There is a form of taxation in the way that you mean, through import tax. However, if the firm sets up the manufacturing plant within the country, it can avoid many of those taxes (I say many, and not all, because pretty much all products nowadays require some kind of global sourcing).

It can be argue the only way to completely avoid it is to go with a form of a VAT tax.  The issue with the VAT tax is that it is argued it is regressive in  nature.