News for hackers. Stuff that matters.
Re:Panama: The Hidden Trillions by charlesdm on Sunday October 09, 2016 @06:00PM (#12673759)
> The solution is ruthless enforcement of the tax code, with extreme punitive fines for evasion.

Evasion has always been illegal, avoidance is structuring a transaction in a way so that it ends up being taxed at a lower rate, but in a legal way. Ruthless enforcement is already happening today in most western european countries.

Re:Panama: The Hidden Trillions by toomuchtodo on Sunday October 09, 2016 @07:15PM (#12674092)
> Ruthless enforcement is already happening today in most western european countries.

Oh please. It took 6 years for the EU to penalize Ireland for the double irish/dutch sandwich avoidance mechanism.

https://en.wikipedia.org/wiki/Double_Irish_arrangement

https://www.bloomberg.com/news/articles/2016-08-30/apple-ire...

Re:Panama: The Hidden Trillions by charlesdm on Sunday October 09, 2016 @07:26PM (#12674127)
Well.. countries are allowed to set their own tax laws. That’s part of what makes a country. Fiscal sovereignty right there. Ireland (obviously) purposely created their tax framework so it would allow for this kind of behaviour. The world is battling for the tax dollars of wealthy people and their corporations. The EU ruling is just an initial opinion of the EU commission. It’ll have to go through the ECJ first.

Countries are starving for tax income and have very clear conflicts of interests: they want to 1) tax their normal residents as much as possible, but at the same time 2) hand out low tax “freebies” to non residents (or HNWIs) so they will book some of their taxable profits in their jurisdictions. This needs to stop (globally) before you can effectively combat avoidance. But I doubt it’s ever going to happen.

Re:Panama: The Hidden Trillions by twblalock on Sunday October 09, 2016 @10:58PM (#12674753)
> Oh please. It took 6 years for the EU to penalize Ireland for the double irish/dutch sandwich avoidance mechanism.

That's because it's not a clear-cut legal issue. It's pretty much the EU versus everyone else on this one. Even the US government is unhappy about the EU ruling, even though the US government has gone after Apple for its tax practices fairly recently.