Multinational Tax Avoidance

[SirRumpole]

New transparency law aims to deter multinational tax avoidance​

'A huge win': New tax transparency laws aim to deter multinational tax avoidance

Australia now has among the strongest laws globally to fight tax avoidance. Every multinational operating locally must now publicly report to the ATO more detailed information about taxes paid, in an attempt to stamp out profit shifting into once notorious tax haven jurisdictions.

www.abc.net.au

 

[divs4ever]

which 'notorious tax havens ' some very large EU banks are very helpful in avoiding leaving financial tracks ( and NOT just Switzerland )

but all it will do is reduce foreign investment in Australia ( unless it is some foreign pension fund )

 

[Garpal Gumnut]

I have some rellies who moved to Guernsey to avoid tax and believe me it is well worth it. It is a beautiful island though there are a fair few outsiders mostly poms there who irritate the locals. If you do move there mix with the locals. They are a lovely bunch.

gg

 

[Garpal Gumnut]

Just some advice about moving to tax havens. It works well if the place is nice and has good governance, but can be problematic if it is run by thugs or religious nutters or others of that ilk.

Also some of the people I know who have moved to tax havens regretted it as they aged and were separated from their children and grandchildren. So they saved on tax but lost out on quality of life.

Which tax haven were you thinking of moving to @SirRumpole and @divs4ever as I may be able to advise you, not that I myself have the means nor the inclination to do so but know a few who have done it.

Do your sums and discuss with your family before making any decisions that you may regret.

gg

 

[wayneL]

I have some acquaintances that have moved to Dubai. Some absolutely love it, others not so much. It seems to depend on various factors as GG says. The place doesn't appeal to me, Tax Haven or not

Most at the macro dudes I follow seeing to have taken up residence somewhere in the Caribbean in some tax heaven. They are not friends so I'm not privy to how they view their life there, but they are still there.

 

[divs4ever]

Just some advice about moving to tax havens. It works well if the place is nice and has good governance, but can be problematic if it is run by thugs or religious nutters or others of that ilk.

Also some of the people I know who have moved to tax havens regretted it as they aged and were separated from their children and grandchildren. So they saved on tax but lost out on quality of life.

Which tax haven were you thinking of moving to @SirRumpole and @divs4ever as I may be able to advise you, not that I myself have the means nor the inclination to do so but know a few who have done it.

Do your sums and discuss with your family before making any decisions that you may regret.

gg

well the rellies issue doesn't apply to me , i outlived the ones i used to talk to , and the other lot i haven't talked to ( or participated in legal stoushes ) for 50 years , i resorted to a tree-change ( on a mountain top .. still looking for a cave )

but if i was to migrate it would more likely to be to escape the growing entanglement of regulations ( which always seems to incur extra taxes. fees and charges )