Excluding VAT, the tax should have been 28.5 USD and they have managed to pay 3.3 USD. This is a very basic example and figures are probably far from accurate, but you get the idea. A solution has to address this pick and choose of where to pay.
I have a far better solution. Why not change the tax in all countries to that of Ireland? Doesn't it make far more sense, companies would not have to go through all this, you won't have a lot of guys chasing them down and products would be much cheaper for everyone ? Of course, the governments would have to cut their spending and they will not have that much leverage when trying to bribe voters with claims that they are fighting the evil corporations and they are spending all their blood on these battles, but I could live with that. As you mentioned, I think the biggest problem with this agreement is to exacerbate the imbalance between developed and developing countries.
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Obviously, the developed countries get more profits, while the manufacturing-based developing countries can only get a small return. I think it will also accentuate the inequalities between rich and poor countries.
You're looking at it from the wrong point of view. If there would be no rich countries to pay 250$ for that phone the poor manufacturing countries would be out of a job! Try to sell that for 200$ right from the factory and let's see what happens, in one month the factory is in another country. On every country having the same tax as Ireland, that is kind of what happened with the pact. Except that some countries won´t accept it, thus leaving room open. On the manufacturing on poor or rich countries, that is unrelated to tax, as the price of the iPhone is unrelated to its real production cost. I am not saying that it should be manufactured in one place or another at all. The example is how the tax that should be paid in the manufacturing country and then in the destination country gets avoided by stating most of the profit as made in a third country that does nothing but has low tax. |
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Recently, I have read an update of the budget of Bangladesh where a bill of increasing (25% now) the rate for whitening black money has been passed. According to that, one can whiten their black money by investing in stock market and they have to pay 25% fee to the government. Before this year, the rate was 10%. Is it healthy for the economy? May be it’s healthy but it’s encouraging corruption. Is there any other country which allows such investment too? Learn more- https://www.thedailystar.net/business/economy/stock/news/tax-raised-25-investment-black-money-stocks-2120645This looks like a permanent fiscal amnesty. There was one in Spain not too long ago, because the government was desperate for funds so they were willing to ignore the tax evasion penalties and charges as long as the money was brought to light and paid the right level of tax. However, there is a big difference between a one-off and a permanent mechanism for money laundering. Also, even if the money is legalised, there should be some questions about where did it come from, that is, is not the same money coming from drug selling that money paid "in hand" with no records for selling a house or other stuff or even an undeclared inheritance. |
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A global corporate tax rate of at least 15% was agreed upon by 130 countries, the Organisation for Economic Co-operation and Development (OECD) said on Thursday.
But Hungary and Ireland were part of a small group of countries that did not agree on the tax rate on multinationals.
The Irish government expressed its "broad support" for the agreement but noted its "reservation about the proposal for a global minimum effective tax rate of ‘at least 15%’ Does 15% sound like too much. Certainly not, most countries, even Ireland and perhaps except tax havens, have a higher official tax than 15%. It is a step in the right direction, however: - The problem is rarely the minimum tax, but rather the private deals of governments with large corporations to lower this to, sometimes, near zero taxes. - Countries that are less attractive for investments cannot lower their taxes. This equates to having to sell your oranges at 50 cents a pound no matter if they are ripe, large, small, juicy or dry. - Since not all countries participate, this does not address the problem of corporations setting shadow structures on these. One of the key points however is the intent of the states to charge tax where goods are consumed. This is obviously aimed at Google, Facebook, Amazon, Netflix and the like, who, until now were declaring the profits where they choose. This would look as simple as this: - An iPhone is manufactured in China or India. It costs 25 USD. - This iPhone is sold to a company in a lox tax country. The iPhone is sold for 25 USD and one cent. One cent of profit is taxed in China or India at (e.g.) 30%. They pay .3 cents of taxes. - An Irish corporation buys the iPhone for 200 USD. This is taxed at the low tax countries profit tax (e.g. 1%, so they pay 2 USD there) - The iPhone is now in the European Union, it travels freely to Germany where it is sold at 210 USD. This profit is taxed in Ireland at 10% (thanks to an special agreement). That is 1 USD of tax. - VAT is applied at 20%, that is around 40 USD. That´s paid in Germany. Apart from VAT, The real tax at that 15% minimum if you do not do all this tax avoidance is (210 - 20) *15%, plus VAT. Excluding VAT, the tax should have been 28.5 USD and they have managed to pay 3.3 USD. This is a very basic example and figures are probably far from accurate, but you get the idea. A solution has to address this pick and choose of where to pay. |
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This is a sentence I recently heard on a TV series I was watching that made me think of my own stance in life. Am I striving to become the master of slaves? Perhaps those who climb the corporate ladder think in those terms? Are we creating our own cryptocurrency just to be our own masters or are we actually seeking to become the new masters of the new slaves? BTW I am very interested in knowing if this is a quote from anyone famous or just part of the script.
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Dear guy, if you want standard monetary policies and tools that allow standard monetary policies why would you need anything like Ethereum, BNB or any crypto? You already have fiat and ordinary central banks for that. Bitcoin is for people who precisely do not want anything to do with what you call standard monetary policy, because that policy and system is based on inflation, monopoly money, banks that hold an undue influence in the economy and politicians who cannot think beyond their electoral period.
Why would you need to replicate that, it is already there.
Bitcoin is already a global currency and it is perfectly fine sharing the space with traditional fiat. It does not need to be officially recognised, because we ("we the people") have already decided to accept it.
Bitcoin is, as of now, not intended to pay for coffee. Nor are 500 euro bills. However it is perfect for mid-large transactions and carries less fees and is faster than international transfers, but, above all, is not controlled by any third entity in the process.
BNB is a private currency. ETH in inflationary. Please, hold as much as you want and buy as much coffee as you want with it. You have earned it.
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Apart from all this, the cost of living is low, the climate is great and you can buy pretty much anything with money.
The cost of living is low compared to which country? Although no one from that country came forward to answer the question, that’s why we have the internet and search engines. I looked at a few sources and post some interesting information that obviously no one wants to read because it is much easier to write in general without referring to the facts. El Salvador is not a cheap country when I compare it with some EU countries, and some things are even more expensive than here - I won't even mention the price of security at all, because it doesn't really have a price. The factual information given about cost of living is based on a report of living conditions and salary adjustments published in the Economist. El Salvador is cheap compared to a world average of capital cities. It is behind a paywall so I cannot link it. You can access a pubic domain source here.
which states: Summary of cost of living in El Salvador
...
Cost of living in El Salvador is cheaper than in 65% of countries in the World (51 out of 79) The references to the political status of the country are based on the abundant news and information available. If you need a source you can use this one. which states among other facts: El Salvador has one of the highest rates of crime and murder in the world. The country has been labeled, “the most violent in Latin America.” From 2014 to 2017, about 20,000 people were murdered as a result of gang violence. The gangs are active in 94 percent of the country and run as a continuous threat to children, families and business owners. and this: About 1.8 million minors between the age of 5 and 17 are forced to work. Often times these children are placed in unsanitary or dangerous work environments just to earn a few dollars for themselves and their families. Do not assume that my posts are undocumented or that I am speaking without knowing just because I am being kind of funny about it. The reason why nobody from El Salvador is answering is because they are busy trying to survive. That is not factual, just my educated guess. My other educated guess is that you may achieve far better results asking in the Spanish section of the forum. Something like this could help "Alguien puede hablarme de las condiciones de vida en El Salvador? Es un buen lugar para ir a vivir y para crear una empresa tecnológica?" |
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It depends a lot on your needs. Firstly, if you are completely free to choose your location or you have some restriction such as having to be in Asia, Europe, Middle East, etc... Second, some are more friendly in certain aspects. For example you may want to pay minimal taxes for which you would choose Luxemburg, Ireland or any tax heaven. However, you may be looking for qualified professionals and a solid legal system that may be present in UK or in some states of the USA. The names that are frequently mentioned are:
- Switzerland
- Estonia (which has a virtual citizenship)
- Luxemburg
- Singapore
- All tax havens
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Lately some government have come hard on cryptocurrency in trying to ban activities or stop people from crypto. India and Nigeria have a restriction on their people from freely using or hodling crypto, although that of Nigeria is to crypto accounts in the banks but that is part of restrictions. Now the latest country to come with another policy in line with restricting patronage of crypto is UK. UK BAN ON BINANCEUK is restricting Binance from there service in the UK and warning the people against binance.com. These restrictions looks to me like a means to regulate the activities of cryptocurrency. In my own reason, I think we get this kind of news whenever the market turns bear after a good bull run and the government politicians have cashed out.   No, that is not true. UK has not banned binance.com just a subsidiary. There are at least three threads about it with the right information. No, this is not against crypto at all, it is about companies that do not bother to have an adequate control of their clients and the money flows. It is as simple as this and not related to crypto itself. Crackdowns on crypto properly said are related to those countries and regimes that try to hold their people from having freedom to move and spend their money or to use other currencies than the official. |
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It is incredible that people even consider the martingale. Is as old as life and yet still somehow it captures the imagination of players that keep on loosing money either with the original scheme or with many variations aimed to increase the chances. The fact is that:
- Statistically, you may loose an indefinite amount.
- The limit of bets puts an effective limit to the system.
- If it worked, it would be banned. Casinos like wining only.
So, users are either illiterate or they just don´t even bother to google it.
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I'm going to use the alias of
You have already given here quite some details, hence somebody searching deep enough could get to you. It's a risk... Then... well, I've seen places where the neighbors try to steal here and there a little bit of land by moving the fence by an inch now and then, so I can guess the stress, and the only solution I've found for that was concrete walls. Ugly, but effective. I'd also recommend, if it's possible and the law allows it, powerful security cameras, to also "see" a bit of what happens "around", just in case. About threatening that they'll kill the cat... I don't expect the police be able to do much, it's the word of one person against the word of another person. The culprit will go free in no time. Back to the blog idea, I'm not convinced any policeman would take it too serious and, in case the culprit is getting tipped off by the police (it can happen!), they'll know that you know this or that and when things get ugly, you'll become a target  I don't know, there has to exist a better solution... RE moving boundaries, land limits are registered. Moving the "mark stone" is referenced in Egyptian scripts 2000 BC. and is still an offence so recurring to the law should work for that. Not that wall are a bad idea anyway. Catwise... well, CCTV and some recordings and recordings of sound could be of help, but...yeah... lost cause mostly. RE old people living in expensive houses but with moderate pensions... well, you may consider a reverse mortgage or some form of equity release. It is of little use to have a valuable property if you cannot maintain it. You can live on it, get some additional income and still leave something for your heirs if that means anything to you. EDITED TO ADD: I skipped over the fact that you know a few widows over 80 with valuable houses. Are they good looking? Would you say that they are in good health? .... just asking you know, they may need some love and sincere caring from me. |
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This was published in the opinion section rather than the financial section with media approved pieces. Perhaps so thehill can maintain some degree of plausible deniability.
No doubt. I don't trust the media or the government one bit, and I'm not sure which one I despise the most. 4.2% inflation in the US is incredibly "uncomfortable" I'd say, and I've been noticing prices of various things going up, including gasoline--and that probably affects Americans the most. But what do you expect? All this new money creation coupled with all the free money handed out by the government in the form of stimulus checks and unemployment compensation has flooded the country with cash. Of course inflation is the result; and just look at how overvalued the stock market is right now. Money is being pumped into all sorts of things (crypto included, BTW), and it's driving up the prices of things like crazy. I have zero faith that the Biden administration has any sort of plan to deal with any of this. I know it wasn't his doing, but it's his mess now whether he likes it or not. Unfortunately, the guy can barely string two words together that make sense. It's like Weekend at Bernie's in the White House right now, and if things don't change we're all going to be royally fucked. Kind of agree widely on the points there. The modern US and other states are trying to cope with crisis as they come. They learnt the hard way during the 2009 crisis that hit hard in Europe that you cannot reduce public expenditure and expect the economy to go well by itself. Now they are trying the opposite recipe - what if I throw a huge amount of cash into the peoples hands? Well, no wonder we are talking inflation after decades of nearly zero rates in Europe, Japan and low rates in US, UK. This is the way we are going to pay for COVID. It is inevitable - COVID did happen, it did strike the economy of the developed countries and far worse for underdeveloped and emergent economies. People had to be saved printing money but the fact is that the world is now poorer than before and it will take several years to catch up again. I am quite sceptic about the ability of any government of any sign to cope effectively with this. Biden seem to be throwing more money into the economy but I think is more related to trying to keep the US up to date with the world by investing. I am certainly unaware of any plan not to deal with inflation, which can be easy, but the plan to deal with high interest rates when they come. |
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(Translated roughly from my post in the Spanish section)
Look, my interpretation is that this (ban) is not about territorial restrictions or using VPNs, this is about preventing systematic money laundering, although I sincerely believe that they are only concerned with the ones destined to finance terrorist activities and marginally and by association, the sale of drugs and oil from sanctioned countries. Do not mistake this for an attack on the average joe that has 4 sats sitting around.
The UK and precisely the City and Canary Warf in London are a gigantic financial centre, particularly if you consider how small is the UK in size and population. Among many other things, "Greater London" - London + its metropolitan area, generates one third of the economic activity of the UK.
A large part of this "success" is due to the Empire, but above all, to the agility with which the UK has managed to become an exceptional receiver of funds from various origings. African dictators, Russian oligarchs, high-class arabs and many other categories that are welcomed with a red carpet and little questioning. Up to there, the government of the UK is happy with all this and its only aim it to keep being the perfect destiny for those investments. Be not mistaken, the Brexit campaigns have not financed by Welsh shepherds, but all the money that wants maximum flexibility and independence from the rules that may come from "Europe".
The problem of all this is when you get a terrorist attack in Paddington Station, at peak commuting hour, and you pull the string to find out that it was financed with money laundered near Bank or Canary Wharf Station. That does hurt, also when George Bush calls you asking why the HSBC is laundering the money used to pay chinesse hackers or why is there a British Bank with large accounts to the name of Mickey Mouse Bin-Laden Pluto.
The financial conduct authority are far from being saints. They are there to see only what is appropriate to see (drug money from Afghanistan bad, drug money from Colombia ok only if it is huge and money from tax evasion in Spain coming through Gibraltar marvellous.
Binance Markets has not been banned for allowing people to buy bitcoin. There is something else there, and it is something that Coinbase has been working around for years. My impression is that Binance cannot copy that overnight because it is not about filling a few forms here and there.
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A ver, que mi interpretación es que esto no va de restricciones territoriales o usar VPNs, esto va de de evitar el blanqueo sistemático de capitales, aunque sinceramente creo q les preocupan sólo los destinados a financiar actividades terroristas y marginalmente y por conexión, la venta de drogas y de petroleo desde paises sancionados. No confundir con atacar al ciudadano medio que tiene por ahi 4 satoshis.
Reino Unido y más precisamente la City y Canary Warf en Londres son un centro financiero gigantesco, sobre todo si se tiene en cuenta lo pequeño q es UK en tamaño y en población. Entre muchas otras cosas, en "Greater London" -Londres + area metropolitana - se genera una actividad economica que supone un tercio del total del Reino Unido.
Una gran parte de este "exito" se debe al imperio pero sobre todo a la agilidad con la q el Reino Unido ha conseguido convertirse en un captador excepcional de fondos de diversos orígenes. Dictadores africanos, oligarcas rusos, árabes de postín y muchas otras categorías que son recibidos con la alfombra roja y pocas preguntas. Hasta ahí, al gobierno del Reino Unido todo le parece maravilloso y su único deseo es seguir resultando un destino perfecto para ese tipo de inversiones. No quepa a nadie duda de que las campañas del Brexit no las financiaron los pastores galeses, sino todo el dinero que quiere máxima flexibilidad e independencia y muy pocas reglas que vengan "impuestas" desde Europa.
El problema de todo esto es cuando te hacen un atentado en la estación de Paddington en hora punta y tirando del hilo ves q eso se ha pagado con dinero blanqueado cerca de la estación de Bank or de Canary. Eso si duele. Y cuando te llama George Bush y te pregunta q porqué el HSBC está lavando dinero q China usa para pagar a sus Hackers o porqué hay un banco británico con cuentas a nombre de Mickey Mouse Bin-Laden Pluto.
La autoridad de conducta financiera no son santos, están ahí para ver sólo lo que conviene ver (dinero de la droga en Afganistan malo, dinero de la droga en Colombia si pero sólo si es mucho y dinero de la evasión de impuestos a través de Gibraltar medalla de oro).
Binance Markets no está prohibido por permitir a la gente comprar bitcoin. Algo más hay ahí. Es algo que Coinbase lleva trabajando durante años y tengo la impresión de Binance ahora no puede copiar de la noche a la mañana y que no se trata de arreglar "cuatro papelitos".
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Op, why do you think that VIPs aren't treated any better online as they get treated at physical casinos? There are higher rakebacks, some also provide lossbacks, higher bonuses, much better affiliate commission slabs, etc. Many online casinos take care of their customers by allocating official managers to make those VIPs understand everything with ease. VIPs are also provided with contact numbers and online (social media) contacts of that manager to call them during given times and have any query resolved that arises in their mind. All that we get here, except there is one thing we don't get here to make us feel very much comfortable as a VIP gambler and that's those girls who come and sit near us in physical casinos to distract us.  Exactly. I think that online VIP perks are a lot more tangible compared to the gimmicky stuff that you can get in Vegas casinos. I would certainly not care for the person butler service or live entertainment tickets - I would rather get a fixed percentage of my losses back so that I'm better off over the long run. But there are people out there who enjoy the glamour and attention that they get at physical casinos, which is why they will remain in business in the foreseeable future. I am not so sure about what high rollers value more. They already got the economic means so giving them "extra spins" or 10% on top of any deposit is probably not going to make their day, however they can probably be more entertained with some human interaction, a more personalised service, betterments in their rooms and the like. That is why I think is quite difficult for the on-lines to offer something that provides a similar experience. Also, the design of real world casinos are intended to keep the player "concentrated" in playing, that´s hard to replicate if they are at their home or office. |
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For a business to build a reputation, it takes a lot of money and time to be invested to achieve this through marketing, brand awareness and all other activities.
But my question is why would they risk all they have invested to a few players by scamming them? I for one know the forum will side with the player that have been allegedly being scammed in most cases but how do casino's/bookies protect themselves if not terms and conditions?
If people buy reviews to paint a picture of a good standing business, what would stop the competition from buying people to tarnish a competitors reputation to have an advantage in the business?
I think you are answering the question. A reputation is something very valuable - many companies have that into their balance sheet as "goodwill" or "intangible capital" and some companies worth are only their reputation such as Law firms, advisors, etc.. What could drive a company to burn its reputation in a short time? I guess that massive profits. This happened with the auditors of Enron for example. They choose to ignore the shit that was obviously floating around and when Enron busted, they nearly dissapeared. |
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Most western countries and cities have either groups of support for gamblers and other addictions to share and encourage each other to resits. I think this is different from alcoholism and that most people could benefit from a more specialised psychological support to find out what is triggering their gambling beyond their control zone. However, many people that gamble do not have the resources to get into this specialised treatments and have to do with help from the church groups or others.
They say "the worst thing that can happen to an addict to gambling is winning".
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Has Real Madrid bought someone, as a replacement for Ramos? I did not see any news related to this. If they don't buy, the next season will be a nightmare for them. They will not be able to win any title next season. Because the team's forwards relied entirely on Benzema, and the defense relied on Ramos.
There is no definite target from Real Madrid yet, but based on the news I've read, Madrid will be eyeing Pau Torres. a young players, but have a potential, of course this is very good for Real Madrid as they look for a long-term defender option as a replacement for Sergio Ramos. However, there is no further news regarding this rumor. If Pau Torres joins Real Madrid, it will be good for Real Madrid's future. He is still young, he will be able to stay in the Real Madrid team for many years. And no club wants to change defenders every year. Clubs change forwards and midfield but keep the defense unchanged. For this, they should be included in the team of young defenders. But unfortunately, according to the news I read from one of the existing sources, the fact is that Manchester United are also eyeing Pau Torres. That way, if Madrid want to bring him to the Santiago Bernabeu then of course there will be price competition there, but there should be no problem about the price for these two big teams. Well I'm just looking forward to it and besides, after Madrid called Carlo Ancelotti again I'm personally not so sure Ancelotti can give his best in his first season but yes, anything can still happen and Madrid can definitely stay on the title track. As silly as it may seem, some players would take into consideration things that may be overlooked by normal people. Like the fact that the UK is mostly a shitty place to live during 5 months a year. Rain, cold, not many hours of light and a bunch of people that pretend that other do not exist. Seriously, if I were a player, I would request a big premium to settle in the UK and to play for any British team. Perhaps that explains why the Spanish league has great players even in small teams |
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I've played bingo and it's a fun game when me and my friends played it before physically. I don't know if there are some websites (not casino) that can play bingo with friends.
Like creating a room and adding password and only your friends can access on it since you're going to give them the password for that room you've made to play with them.
Ah yes Bingo, the favorite past time of unemployed housewives in my neighborhood. There's probably an online one, I think a search with the keywords "online", "bingo" and "crypto" will definitely yield some results. I got some relatives that love bingo, but I think is mostly for old people that are familiar with the game an mostly like playing live rather than on-line. I would be interested in knowing if there are actually people playing on-line bingo even after the COVID restrictions it is probably just for a minority. Anyway, I always asked myself why would old people play a game that actually requires quite a bit of concentration and being able to read quite fast. |
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...
Los usuarios de Binance de UK pueden aún utilizar los servicios en otras jurisdicciones.
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Como bien dices afecta solo a actividades reguladas por la autoridad de conducta financiera, lo cual curiosamente no incluye el mero trading de cryptodivisas. Los usuarios pueden seguir usando Binancey comprando y vendiendo bitcoins y compañía. Creo que las autoridades están preocupadas por lo que pueda suponer el incumplimiento de las regulaciones antiblanqueo de capitales que pueden darse con cantidades grandes a través de los mercados de capitales pero no mucho sobre lo que los usuarios individuales or retail puedan "tradear" (perdón por el palabro). Imagino que el desarrollo de esta noticia se basará en que Binance obtenga el permiso de la FCA para poder operar en dicho país. No será un tramite fácil y si los ingleses quieren ponerle trabas al proceso entonces Binance se verá obligado a dejar de operar en UK. Sin embargo esto no detendrá a los usuarios ya que con un VPN pueden operar desde otra localidad sin restricciones. Los gobiernos ven tanto flujo de capital en las criptomonedas que todos quieren meter su cuchara y llevarse un pedazo del pastel Lo dicho, no han prohibido la actividad de Binance, sino la subsidiaria Binance Markets y sólo en actividades reguladas. |
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As a result, the poor and even middle class have to jump over one real barrier, their lack of funds, and more importantly, like the Elephant that learns young that he cannot break the chains and never tries again, over their own state of mind, their own prison set by the terms of those who trying to help taught them to avoid anything but doing the same that keeps them poor.
While this might be true in your early years, if you live in a country where university is free, you are in a much better position. There are countries with an excellent educational system that is not based on money. You can get a very good Bachelor degree without spending much money. For the post grad education you might need to spend some more money, but at this point it should be possible to get financial support. And the rich kids can't do much about it if you study hard you will succeed. Good connections can help you get a position after university, but it comes down to your skills to keep that job and climb up the corporate ladder. This is a perfect sample of the middle class mentality of a developed country. Get free education, college, climb up the ladder = work for someone else. Nothing really wrong with it, but that will only elevate the status of one in a million. RE "rich kids cannot do much about it" - so naïve, so beautiful ... and so wrong. They will create their own exclusive schools, the will mingle with their "equals" their dads own the company of that corporate ladder you want to climb and they will be placed high on it before you can even start. If you have talent, do something for yourself. |
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