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The lounge Relax, take a break from photo and camera talk - have a chat about something else for a change. Just keep it clean and polite!

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  #16  
Old 14th May 2016
ayewing ayewing is offline
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Re: Political: Your money

Thanks Peter for your thoughtful, well argued contribution based of factual information which is much more useful than the repetition of second hand opinions culled from the headlines of the biased popular newspapers which reflect the views of their owners many of whom are not British taxpayers.
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  #17  
Old 15th May 2016
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Re: Political: Your money

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Originally Posted by PeterBirder View Post

To whom would they pay it?
Everyone else does it in their country of residence. Presumably these people have homes!

Harold
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  #18  
Old 15th May 2016
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Re: Political: Your money

A good factual article that explains many things.

However, my bone of contention is the fact that they pay no tax. Diplomatic status should not absolve anyone from paying tax on their earnings. The reason I say this is that no matter who you are, you basically have a place of residence. The fact that your payments are taken from any international group funding should make no difference. To clarify: In the three groups mentioned, those with diplomatic status should be accountable for tax by the countries that fund their work. Place of residence and or passport should should be used to determine where you pay tax.

As for salaries etc., I agree to disagree when bonuses and for good time-keeping and doing a good job and 'special added payments' are given out. In my mind you get paid to do both and the salary / wage structures should reflect that. Maybe I'm wrong, but it perhaps explains why we are in the crap we are in. The bounty system promotes greed and with fertile soil like banking, as an example, we have seen and are still feeling the affects. eight years down the trail… and the stench still lingers

For the ordinary person, it doesn't help promote goodwill or trust in the system when those caught do not get proper punishment or, in many cases, do not receive any at all. The scandals are still ongoing in the UK with MP's and taxpayers money which proves the repaired system is still broken.

If proof be needed, using one of the three organisations mentioned, the International Maritime Organisation was in the news just a few weeks back when one of their 'diplomatic ambassadors' was up in a British court over money matters. A billionaire Saudi, resident in the UK. Accused of purchasing his IMO status. http://www.telegraph.co.uk/news/worl...-diplomat.html

Once again, to the ordinary taxpayer something like this smells very much like tax avoidance - legal, but morally wrong Quote DC / Osborne - and just heaps insult upon injury, more so when one cajoles others to pay proper tax dues.

Not quite above board:

Brexit IN: http://www.theguardian.com/uk-news/2...c-cash-inquiry

Brexit OUT: http://www.theguardian.com/politics/...n-mayor-london

As for the press, if they didn't highlight issues, biased or not, not only would be be fed on crap, but like mushrooms, we would also be kept in the dark. So who ARE we supposed to believe?

Ask the question. How many of us prior to this thread, realised that in cases like the three entities mentioned in Peter's post were aware of their tax-free status?

At point of posting: Yes = 0 / No. = 1 - me.

Just found this...
Coming soon to a letter box near you. Just how impartial is impartial? http://www.bbc.co.uk/news/uk-politic...endum-36286993
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Last edited by Wally; 15th May 2016 at 09:54 AM. Reason: New info added
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Old 15th May 2016
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Re: Political: Your money

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Originally Posted by Wally View Post
A good factual article that explains many things.

As for salaries etc., I agree to disagree when bonuses and for good time-keeping and doing a good job and 'special added payments' are given out. In my mind you get paid to do both and the salary / wage structures should reflect that. Maybe I'm wrong, but it perhaps explains why we are in the crap we are in. The bounty system promotes greed and with fertile soil like banking, as an example, we have seen and are still feeling the affects. eight years down the trail… and the stench still lingers
Dead right!

A recent study found that bonuses, etc., cause a lack of incentive when they cease.

Harold
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Old 15th May 2016
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Re: Political: Your money

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Originally Posted by Harold Gough View Post
Everyone else does it in their country of residence.

Harold
Not entirely correct.
In our increasingly "internationalised" world that is not always feasible. For example, non Belgian members of the EU Civil Service working in Begium do not pay Belgian tax. This is because they are paid by the EU which Belgium pays to be a member of. If they then paid tax to the Belgian government this would be effectively a reduction in the Belgian payment. Instead the EU deducts tax from their earnings on a scale of rates based on some sort of notional average of member states rates and this tax goes back into the EU budget.

The world is very complicated and simplistic views of these matters do not work.

Regards.

Regards
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  #21  
Old 15th May 2016
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Re: Political: Your money

[QUOTE=Wally;385960]
However, my bone of contention is the fact that they pay no tax. Diplomatic status should not absolve anyone from paying tax on their earnings.

The fact that your payments are taken from any international group funding should make no difference. To clarify: In the three groups mentioned, those with diplomatic status should be accountable for tax by the countries that fund their work..]



Article 34 of the Vienna Convention on Diplomatic Relations 1961 specifically says that they should be exempt.
http://legal.un.org/ilc/texts/instru...s/9_1_1961.pdf

IMF staff are funded collectvely by 189 states. How would it be feasible to break each employee's tax into 189 parts in proportion to each state's contribution?

Regards.
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  #22  
Old 15th May 2016
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Re: Political: Your money

It's a long time to sit and watch this, but I did find it interesting

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  #23  
Old 15th May 2016
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Re: Political: Your money

You have to do a mental jump and instead of saying that the head of the IMF and other people who do not pay tax, you have to adjust the view of their salary from say 200k tax free to a notional 400k before tax for comparison with normally taxed people.

If you do this you can whinge about the world treating these people so well, but you should ignore the tax issue. It is not relevant.
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Old 16th May 2016
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Re: Political: Your money

Re the Tax debate. US citizens are liable to pay US tax wherever they live in the world so (as with residence) the paymaster issue could be overcome.
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  #25  
Old 16th May 2016
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Re: Political: Your money

Lagarde's position is politically neutral and that means in order to avoid any accusation of bias she is not paid nor taxed by any country.

Her salary is miniscule compared to the largely anonymous CEOs of many big institutions, like banks. And as far as I know there is no bonus scheme.

Perspective is not just a photographic term.

Ian

PS Anyone had a look at my my new http://ianburley.com blog yet?
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Old 16th May 2016
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Re: Political: Your money

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PS Anyone had a look at my my new http://ianburley.com blog yet?
Yes. Completely spoiled my watching of F1 on catch up TV.
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  #27  
Old 16th May 2016
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Re: Political: Your money

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Yes. Completely spoiled my watching of F1 on catch up TV.
Oh no! Sorry

That serves as a spoiler alert then!

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  #28  
Old 16th May 2016
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Re: Political: Your money

I wonder how many people will vote to stay in because Trump wants us to leave! It's in the US financial interest for the UK and Europe to fragment and have less bargaining power on the international stage because we will be small fish that will have to dance to their tune.

The non-payment of tax is both a British and International problem. Last year it was reported that Apple held cash held offshore to the tune of €137 Billion in Ireland, so it was beyond the grasp of the US taxman, this is likely to have grown since. It cannot be reinvested in Apple’s US businesses nor paid to shareholders without incurring a colossal amount of tax. Most other large corporations around the world play the same game. It is us, the honest, tax-paying workers that bear the brunt of this, having to foot the bill of the public services that they also use.

The neoliberal political parties allow this to happen. Those parties and their elite are all too closely financially tied to big business and involved in their own tax avoidance schemes to want to change it. Leaving Europe won't change that. In fact, the restrictions on the excesses of those fat cats will disappear if we leave.

Has anyone noticed that this major split in the Tory Party is being underplayed by the media. It's a far larger rift than the Labour-Trident disagreement but in comparison the Murdoch Empire hardly blinks an eye at it.
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Old 16th May 2016
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Re: Political: Your money

Quote:
Originally Posted by Ian View Post
Lagarde's position is politically neutral and that means in order to avoid any accusation of bias she is not paid nor taxed by any country.

Perspective is not just a photographic term.

Ian
A columnist in today's edition of one of the tabloids that claims to be a newspaper includes references to the " EU-subsidised IMF" and " EU-Funded organistions including the CBI and IMF".

Perspective indeed.

Outrageous!
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  #30  
Old 21st May 2016
Harold Gough Harold Gough is online now
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Re: Political: Your money

Changing the subject slightly, but keeping to the title:

The latest warnings that Brexit would mean higher interest rates on mortgages must mean that this will be the end of extreme low interest rates for savers. I hope so, being in the progress of moving all my equity investments into cash ISA.

Harold
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