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Explain to me exactly how you imagine this going down. You've got, say, a billion dollars, not cash, and you've decided to flee from your tax obligations becaus
by ouid 4y ago
Explain to me exactly how you imagine this going down. You've got, say, a billion dollars, not cash, and you've decided to flee from your tax obligations because you think it will be cheaper.
- harvey9 4y agoFirst example that comes to mind is 'not domiciled for tax purposes' . In the UK, our prime minister's wife benefited from declaring her tax domicile as India. She changed it to the UK when it looked like harming his political career. Either she loves him more than the money, or they have a plan to ensure this remains an economically rational choice.
- ouid 4y agoThis is not an argument for your position, it is an argument for the converse. England has crafted laws that allow its wealthy citizens to evade taxes while retaining their citizenship.
- dazc 4y agoNot defending Mr and Mrs Sunak, which is another story, but the UK Domicile thing has been around for many years and no Govt, left or right, has ever attempted to change it.
- tialaramex 4y agoThe Brown administration (ie Labour) did change the rules so that it was no longer possible to somehow be "Not domiciled" in the UK and yet be in Parliament setting rules - including the tax rules - for the country you're supposedly not living in. Several Tories decided that not paying taxes was better than sitting in Parliament and so they quit as a result of this.
- 29athrowaway 4y agoYou liquidate everything and move.