Tax Havens Explained 

I'm going to guess you have never had a job in your life?

@@swizhgg8164 I don't wanna work for anyone. I see working in a job pretty boring.

@@keshavb3128 Funnily enough kid, most people don't want to work for anyone either. Unfortunately most people do work for someone and those are the people that pay the majority of the tax meanwhile people who make billions don't pay a penny in tax.

@@swizhgg8164 Funnily enough kid, last year we had a record numbers of adults paying no income tax, an analysis by the Institute for Fiscal Studies (IFS) shows, and HMRC tax records reveals 43 per cent of adults did not pay any income tax, as the burden increasingly falls on the top one per cent of earners who payed 27 per cent of all income tax... you can bet with all that's going on its much higher at the moment. This video is very misleading. Do you really think the government is going to give up all that tax for nothing.

@@jomsies but unethically stealing someone else's money to pay for all of that is fine and it is stealing, the moment you force someone else to pay a higher % is the moment it becomes stealing. Everyone should pay the same % everyone gets the same benefits. Now that would be paying taxes fairly. The idea of "oh they have more money so they will be fine" doesn't make it right to steal from them.

Tom Dean Brexit will never be done!

@@Torchman- rofl.... hahahaha...

Jersey Isle if Man Guernsey Monaco etc are not in the EU .

Grimbeard, only Ireland and the Netherlands are in the EU.

After brexit there will be another crash in the economy and the UK will be forced to become a tax haven.

@@hassan123456killa well that will make us very rich as we will have access to huge amounts of capital fir banks to lend .

@@ronnieince4568 lol loans on top of loans. What I find amazing is how they preach about tax evasion being so bad and paying less income tax is bad. But yet payday loans are still completely legal with interest rates upwards of 50% ?

They would still avoid it.

The rich already knew it , the poor doesn't need to know it , only me ,the future rich ,would want to know it ~~~

welp i guess u should start to learn english then

Ugh.. No. Let me do this for a few years before Uncle Bernie decides to tax the world.

Not until they learn how to spell “Cayman” correctly (not “caymen”).

Tax studies rwsourcss...these things just fall into ones lap!

SNOW JOB

Trust essentially boils down to having someone else to manage your property (and rights/titles) to the benefit of another person. It makes more sense after taking account of the context of its inception. During Middle Age, you have a lot of landowners leaving the boundary of their estate for Crusade or other far-flung destinations, you'd want your family to be taken care of by people whom you -trust- if you don't return, but you can't expect them to pay for everything for your family no matter how chummy you are. So you create an institution outside the legal framework exactly for this purpose. You want a third party to benefit from the assets that you own, under a supervision of a person (trustee) whom you name. You transfer your rights (titles... earning etc) from your property that you own, under the supervision of the trustee. That's essentially it. The transfer makes the trust "own" the property (and rights); due to this transfer, the trust owns it, not you. The trustee(s) would have all the power, the beneficiaries can't do anything (unless if the trustee(s) does something which a reasonable person would not do). In answering your question, "what stops them from taking the money", because every asset which is in a trust is the trust's, not theirs. The trustees can be forced to pay for everything they took or every rash loss they caused. Only recently do the beneficiaries have the power to remove and change their trustees but it can only be done in a unanimous vote among the beneficiaries.

@@thed542 of course, one should aways remember how that turned out for the Disney family....

What you talking about? British territories have always served as tax havens. Hell the term offshoring came from people putting their money in the channel islands.

what are you going on about man? do you know how long British places have been tax havens? and it's not "stooping low" the taxes that are paid in places like NA are just ridiculously high

Well it always has been an inborn trait of the brits to play with other people's money legally and illegally, more so the latter.

@@cliffsousa4184 Yes, they are clever.

@@cliffsousa4184 does it even matter? Id rather have brits toying with my money then losing a huge cut of my income to the IRS which has access to the Federal Mint which will print more money and make my money more useless anyways. I probably will throw my money to a place in Andorra or the IoM anyways.

Fair

Fuck you. Piece of shit.

@@FixNewsPlease I'm guessing you're 14

@@fazedank4537 You're good!

@@robertrussell2202 how is that fair I would assume his country keeps him and his business safe

It sure aint a good thing though

@@R3yr3yproductions for you

Exactly, lets stop the public sector from getting any money it's not like they need it anyway!

@@swizhgg8164 If they need funds they can raise them by other means, i'm sure their are plenty of people who care enough to donate to it...That way the government stops spending money on stuff the public couldn't give two F***s about.

@@jonpaul4935 Exactly like who gave a fuck about the disabled and police. Please name some alternatives.

​@@swizhgg8164 You do realize that 1/3 of the money ends up in the pockets of politicians 😂😂

Emma Johnson -Seagate has a large manufacturing plant in Ireland and has had it for years .

Emma Johnson you are hot btw.. wish you are single

It’s their choice.

Or maybe just not tax an absurd amount of money to companies so they can create jobs.

They don’t get away with it anymore under TCJA with GILTI and BEAT

How about just end tax havens?

@@amrahmed7856 You can't stop other countries from having lower or different taxes to your home country. Its not their fault that your country charges high taxes or has taxes on things that they don't. For example to North Korea, where citizen are not allowed to legally have private enterprise, every country in the world is a Tax haven. The only way to really end tax havens is to undemocratically force all countries to charge taxes whether they like it or not.

sim ray I wish I knew. I'm struggling with knowledge. 😢

The profits go to the bank accounts and the accounts are registered in tax havens

how?

@@CCCZMC it's true i can give you examples

Amen

Yes, Switzerland also has a wealth tax on total assets which is very left wing.

There are two sides ti the tax question -the rate of tax and what expenses are deductible .For example in the UK trading losses are deductible but not capital losses -in other jurisdictions both are deductible .

who cares tf

The videos are propaganda. How do you think they can afford this with only 13k subscribers?

You can reduce the speed of videos be going into RU-vid's settings. Set the speed to 0.75!

Richard Barlow no they are not stupid

They are not the UK -they are Crown Protectorates ascare the Channel Islands , Isle if Man , British Virgin Islands etc -theyvsre self governing with their own legal codes .

So I guess California is the abusive one that openly cheats and gets away with it? xD

@@skotnica93 The government of California ignores any law that does not allow it to steal. THere's far more fraud run by the state than by tax haven users.

@@futurewolffilms607 Which is the premise of my joke? Thanks for explaining.

Nope

There usually is a registration fees to open a branch in the country, and a yearly fee to renew. In many of these tax havens there are nearly 2, 3, 4 companies for 1 resident in the nation or even more. So put a registration fee of 50 000$ a year (which is nothing compared to the amount of taxes these company spare in their home country) and your government effectively earned 50 000-100 000 per citizen doing nothing more than ranting a mail box!

the guy from harold and kumar recently did a video on this and money laundering in cyprus, called the giant beast that is the global economy on amazon prime

1- they have small population so they need less money 2- registration fees 3- renting an office requires employing at least 4 people and paying their salaries every month so new job opportunities without the government spending any money

Cry about it if i were rich i would hide my money in switzerland since there armed by nuterality