Italy has introduced a tax amnesty with tax payable at 5% on amounts declared (even if through a fiduciary company). Italian authorities estimate that some € 600/700 BN is ‘overseas’ representing approx 50% of the national debt.
Would there be much for the ROI lads to expect in a similar operation? Much needed tax windfall and a flow of funds back to ROI?
There is one thing that reallys pisses me off is the assumption that the self employed are tax dogers. We are not.
I have operated, at a great cost to me,on the princple that I would always be tax compliant. The taxman can come visit me at any time, as I know that I have rendered to cesear. In fact the fuckers probably owe me.
There was endemic tax evasion in the 1980s because tax rates were punative, but it wasnt restricted to the self employed. Everybody was at it. We are repeating the mistake. Punative taxation will equal evasion.
Jail the tax evaders, but dont ignore the huge mass of people that engage in it. We will need a lot of prisions.
No they weren’t. I don’t know if you understand how the PAYE system works but it provides little room for tax evasion. The tax evasion of the '80 was carried out by the moneyed classes simply due to the fact that they had more scope and resources to facilitate that evasion. It was your Sean & Mary PAYE worker who took the brunt of the “putative” tax rates.
And anyway I don’t buy the fact that it was simply due to “punitive” tax rates. It has more to do with the Me Fein/beggar-thy-neighbor culture running through Irish society.
I remember lots of Seans & Marys who got their basic with their PAYE slip and then anything extra in another brown envelope. Mostly Sean & Mary didn’t want to extra work if they were required to pay the full tax… or that’s how I remember it anyway!