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Not feeding the troll, but the average tax for a company is ~36%. 75% is the income tax when you are very rich. (And it's still a project). now, the income tax
by tekahs 13y ago
Not feeding the troll, but the average tax for a company is ~36%.
75% is the income tax when you are very rich. (And it's still a project). now, the income tax is 50% for the rich people.
- ekianjo 13y agoWell that's still far high enough even at 36%. There are several places more business-friendly around the world.
- claudius 13y ago> There are several places more business-friendly around the world. Sure. There are also several places with much worse infrastructure around the world. If you don’t want to pay taxes, go to Somalia.
- speeq 13y agoWhat about places like UAE? The Dubai "Internet City"- Free Trade Zone offers absence of corporate and personal income taxes or customs duties, as well as free repatriation of capital and profit in any currency. I'd say, if you don't want to pay taxes, go to Dubai.
- claudius 13y agoWasn’t there a thread here recently how it took them until 2010 to build a second sewage plant and still have to haul their shit away in trucks?
- return0 13y agoFYI, after what happened in Cyprus (and may be repeated in malta), dozens of online businesses which were based there are moving to Dubai. Not sure how the schizoid behavior of Europeans authorities with regards to business is helping at all.
- claudius 13y agoBecause, err, Dubai is such an extremely democratic country where it is absolutely guaranteed that the government will jump in if you fail and where there is a large social security net in case your company goes bankrupt? Really, Cyprus and Malta are not that different from Dubai, and neither is their business model. The difference is that Cyprus and Malta are part of a larger entity that guarantees certain things, such as human rights[0], reimbursement of up to 100k € if the bank goes bankrupt[1] and support for temporarily failing countries[2]. Oh, and the risk of Iran attacking Cyprus or Malta is surprisingly low as well. [0] extradition to the US from the UK being one of the interesting things here. [1] cf. the EU’s opposition to the Cypriot government’s original idea to just take n% from everybody. [2] extra loans to Ireland, cheap money to Italy etc.pp.
- return0 13y agoHey i'm not claiming it's a better place to live in. The point is, businesses are mobile nowadays and europe is doing everything it can to scare them away.
- claudius 13y agoThat certainly depends on the business, and given sufficient political interest, it is rather easy, especially for an economic area as large as Europe, to shut out external businesses exploiting tax loopholes or subsidies abroad.
- vacri 13y agoVanuatu is another good place. No income tax unless you're a landlord. They won a survey for happiest people in the world. The weather is great. Of course, they're a long way from anywhere, 80% are subsistence farmers, and some islands even still have actual cargo cults, but still, no tax, happy environment. Not much infrastructure, but hey, no taxes.
- return0 13y agoOr to Ireland, Estonia, Malta etc.
- VeejayRampay 13y agoAlso, the 75% is a marginal bracket. Only the money over the 1 million bar or whatever it is right now gets taxed that much. All the money you make up to 1 million faces lower percentages.