Paradise Papers - World Wide Tax Evasion in the Trillions
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Tax Evasion of the Ultra Rich by off-shoring cash revenues and profits from untold sources have easily led to a tax burden over $3,000/year for every individual tax payer in the US. Great Britain and EU it could be double this number!
Update: 11/11/17 - Appears some companies are using off-shoring deals to make deals with embargo countries like North Korea and Iran. World War 3 Nuclear proliferation risk!
We need a special investigation into the Paradise Papers and the practice of "Double Irish / Double Sandwich" scam and "Treaty Shopping"
If the companies and Ultra Rich individuals don't come clean, we should hit them in the pocket book by not buying their products and services. The list is so huge we have no idea how far it reaches starting with:
- Apple & Apple's law firm, Baker McKenzie & Carl Icahn (one of 13 Allies of the White House) - 1 trillion
- Goldman Sachs & Gary Cohn (one of 13 Allies of the White House)
- Majority of the banks & trading brokerages world wide.
- Queen of England & Prince Charles & Prime Minister - Theresa May / Phillip May - Capital Group
- UK Brexit's Huge Financial Supporters - its a list on its own.
- Nike - 3.86 Billion
- At least 13 allies, major donors and Cabinet members of U.S. President Donald Trump appear
- Commerce Secretary Wilbur Ross - Navigator Holdings - Sibur (Russian Energy Co - owned by Putin's son-in-law Kirill Shamalov)
- Secretary of State Rex Tillerson & Exxon Mobile. - 51 billion
- Facebook - DST Global - A Kremlin-owned firm, VTB Bank
- Twitter - DST Global - A Kremlin-owned firm, VTB Bank
- US Army General Wesley Clark - Pokerstars
Update: 11/8/17 - ...companies have stockpiled an estimated $3.1 trillion offshore, beyond the reach of U.S. corporate taxes. Missed corporate tax of 20% - $1,722 per everyone in the US.
Update: 11/7/17 - Apple - Review of the US Federal 10-K (9/30/17) filing has no mention of Jersey. Ireland comes up 122 times in the pdf. "different geographic mix of earnings" is Apple's buzzword for this process of Tax Avoidance. It claims no taxable movement of its intellectual property rights there were "moved" to Ireland and now have been relocated to Jersey? 10-K is silent on this from my review and thus appears to be SEC fraud?
Apple's Response: "The iPhone maker insisted the new report contained several "inaccuracies" and said it made changes to its corporate structure in 2015, which were designed to preserve tax payments to the US, not to reduce taxes elsewhere."
Another new term that will be coming up on national taxing authorities radar is "cross-currency interest rate swaps". Appears to be another unknown legal tax strategy that could appear as outright tax fraud.
The Tax laws may need to be changed - this is not a Russian Propaganda Issue, this is real serious cash hoarding on a level unprecedented! Please Sign to give this the weight it needs so we all don't have to fund another $3,000 /year for our remaining life on our taxes.
Since some of these companies are publicly traded in the US exchanges - this could also be an SEC violation for failure to notify stockholders in a timely matter. Where were the public accounting firms who did the audit and had to ask the hard stockholder equity questions related to tax liabilities and then audit them? SEC member - Jay Clayton - is called out in the Paradise Papers!!
2. List of Rich off-shorer's - that have been highlighted in this article
4. Bank of Utah - Orin Hatch's state - discreet niche business for Bank of Utah that allows wealthy foreigners to legally obtain American registrations for their aircraft while shielding their identities from public view. The bank does this through trust accounts, in its own name, that take the place of owners on plane registration records.
5. Apple Response - 11/7/17
7. Update 11/8/17 -
9. Treaty Shopping - Namibia - Mauritaus Island - Atlantic Pacific Fishing (APF)
10. 11/16/17 - Phillip May - Husband to GB Prime Minister Theresa May
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