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As elsewhere in these comments: tax dodging is an obligation for any intelligent person. "No man in the country is under the smallest obligation, moral or othe
by vixen99 11y ago
As elsewhere in these comments: tax dodging is an obligation for any intelligent person.
"No man in the country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or property as to enable the Inland Revenue to put the largest possible shovel in his stores. The Inland Revenue is not slow, and quite rightly, to take every advantage which is open to it under the Taxing Statutes for the purposes of depleting the taxpayer's pocket. And the taxpayer is in like manner entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Inland Revenue"
Lord Clyde gave this famous quote (in taxation circles) in the case of Ayrshire Pullman Motor Services v Inland Revenue [1929] 14 Tax Case 754, at 763,764:
- jgalt212 11y agoexcept for the fact that the tax dodging services Barclays helped enact for Rennaissance were illegal.
- gaadd33 11y agoWhere does it say that in the article? Or that Rennaissance was found guilty?
- jgalt212 11y agoPlease don't be so naive. It's only because Renaissance is so rich and powerful that they are not in jail. If some piker tried the same strategies, they'd be in jail. The politicians are afraid to jail billionaires. > The Democrat stopped short of saying that any of the activities that allowed Renaissance to lower its tax bills were illegal, and said it appears the banks stopped offering them after the IRS started to question the financial arrangements. http://thehill.com/policy/finance/212875-probe-banks-hedge-funds-used-fictions-to-skirt-capital-gains-taxes http://thehill.com/policy/finance/212875-probe-banks-hedge-f...