This is quite fun:
Tax evasion, tax avoidance,
crime and corruption cannot be differentiated:
Weird that we have different words for things that cannot be differentiated really. Even weirder that we have different laws, different punishments (ranging from none to a lot) for them as well.
4. The UK’s domicile rule, that helps make this
country a tax haven, should be abolished;
5. The UK’s tax residence laws should be reformed
to make it harder for people to leave the UK and
claim tax haven residence;
6. Introduce general anti-avoidance principles
into UK tax law to tackle artificial use of tax
7. UK law should require significantly better disclosure
from UK companies and trusts so that we set the
international standard for transparency by which
others can then be judged;
8. H M Revenue & Customs should promote a Code
of Conduct for all involved in tax management that
requires tax compliance, which this report defines
as seeking to pay the right amount of tax (but no
more) in the right place at the right time where
right means that the economic substance of the
transactions undertaken coincides with the place
and form in which they are reported for taxation
purposes. There should be greater scrutiny for
those who refuse to participate, including
Umm, it\’s tough to work out what he means by the domicile rule making the UK a tax haven. Sure, non-doms don\’t pay UK tax on their foreign earnings that they don\’t bring into the UK. But, umm, there\’s nothing in that arrangement that means that they don\’t pay foreign taxes in those foreign places where they make that foreign money. That\’s entirely a matter for the laws of those foreign places.
Point 5 is simply that fascist control of the population thing again. How can we raise tax rates if people can just bugger off? So, make sure they can\’t bugger off!
6 is the overturning of the basic common law point that we\’re all allowed to order our affairs so as to reduce the taxman\’s take of our property.
8: we already have this. It\’s called obeying the law. If you obey the tax law then you are tax compliant. If you don\’t obey the tax law then you are tax evading. What the Murph really means is that tax compliance is what he thinks the law ought to be, not what Parliament said it is.
18. Secrecy jurisdiction banks and financial services
institutions should be regulated from major financial
centres such as London if that is where their parent
company headquarters are located.
Oh my, so now we\’re off to pierce the corporate veil are we?
The rest of it is his blog rehashed. Boring.