Global wealth tax

[wellington]

It appears they are now pushing this forward - eventually they will run out of potential money from tax payers as they continue to waste what they collect as it is.

Anyway - those with above 3m net worth in Europe should begin making roads to liquidating and renouncing ties and citizenships going by the media

 

[Alonzo]

Who is they?

 

[Marzio]

Who is they?

Governments, OECD f*****s, parasites, retarded socialists, call them whatever you like.

 

[wellington]

Following Spain it appears G20 wise.

 

[Alonzo]

Governments, OECD f*****s, parasites, retarded socialists, call them whatever you like.

If we talk about the EU then yeah the EU asset register is a step closer to EU level wealth tax

 

[wellington]

UK also... G20 (except US until after Kamala wins)

Countries can raise $2 trillion by copying Spain’s wealth tax, study finds - Tax Justice Network

The extreme wealth of the superrich is making economies insecure. Wealth taxes are needed to end special tax treatment given to the superrich.

taxjustice.net

No more fiscal favours? Calls to tax super-rich gain traction around world

Even rightwing governments are joining in with G20-led push to make wealthy pay, with Italy doubling flat tax on foreign income

www.theguardian.com

If they do sub 100m$ that's fine plenty of movability, but if they do 3m well, thats gonna result in immediate citizenship dropping.. (anything sub 50m$ really)

G20 - Wikipedia

en.wikipedia.org

 

[Alonzo]

UK also... G20 (except US until after Kamala wins)

Countries can raise $2 trillion by copying Spain’s wealth tax, study finds - Tax Justice Network

The extreme wealth of the superrich is making economies insecure. Wealth taxes are needed to end special tax treatment given to the superrich.

taxjustice.net

Ok Spain has a crazy wealth tax and yet entrepreneurs are exempt from wealth tax on their company shares under certain conditions which means that Amancio Ortega (the richest spaniard) has never been wealth taxed on his entire wealth. And let’s not forget about the 60% rule (Total tax bill cannot exceed 60% of taxable income). The Spanish government is definitely aware that it will be disastrous if they scrap the 60% rule and the exemption on companies shares for entrepreneurs.
France also had a wealth tax exemption on company shares. This is to show you that the wealth tax "they" are fantasizing about will never ever work.

And for Norway, 8 of the top 10 richest Norwegians live abroad and not too long ago many wealthy individuals fled the country after the left-wing party slightly increased the tax rate from 0.85% to 1.1%.

 

[FiscalFanatic]

The Netherlands has a hefty wealth tax as well. It is a good country for the lower and middle class as everything is taken care of. But you have to be crazy to live there if you are a millionaire. You pay around half of your hard earned money, and on top of that you pay tax on your hard earned money sitting in your bank account, brutal. Not to mention inflation that'll eat it away as well.

Since taxes keep rising I agree with OP's statement that it is better to leave the EU.

 

[wellington]

Wealth tax is fine as long as they only do it to residents, otherwise alternative citizenships

 

[FiscalFanatic]

Wealth tax is fine as long as they only do it to residents, otherwise alternative citizenships

If you add the wealth tax on top of the corporate taxes/income taxes you give away more than half of your hard earned money to the state. But to stay in context of what this post is about, it is indeed 'fine' if it only applies to residents, as long as you can escape from these bureaucratic socialists

 

[EliasIT]

Anyway - those with above 3m net worth in Europe should begin making roads to liquidating and renouncing ties and citizenships going by the media

You already have this in Switzerland, but when I did the math it don't really hurt me with 5 million francs only a few thousands to pay while the most got invested into property.

 

[jafo]

The Netherlands has a hefty wealth tax as well. It is a good country for the lower and middle class as everything is taken care of. But you have to be crazy to live there if you are a millionaire. You pay around half of your hard earned money, and on top of that you pay tax on your hard earned money sitting in your bank account, brutal. Not to mention inflation that'll eat it away as well.

Since taxes keep rising I agree with OP's statement that it is better to leave the EU.

Wasn't there a court decision about Box 3?
Source: 1e duiding arresten Hoge Raad box 3

PS. NGL, I don't understand the Dutch BS. It's like they are working without principles, morals, or ethics..., so I pay NO attention to them. I have 9 Dutch clients who abandoned the Netherlands years ago and won't even return for a transit flight. They HATE the f*cking place...and yes, they are ALL multi-millionaires. They used to rant about the Netherlands daily...so since I'm really not familiar with it, I sit back and listen, but some of their stories bordered on the Mafia absurdity. I honestly hope they were exaggerating.

 

[FiscalFanatic]

Wasn't there a court decision about Box 3?
Source: 1e duiding arresten Hoge Raad box 3

PS. NGL, I don't understand the Dutch BS. It's like they are working without principles, morals, or ethics..., so I pay NO attention to them. I have 9 Dutch clients who abandoned the Netherlands years ago and won't even return for a transit flight. They HATE the f*cking place...and yes, they are ALL multi-millionaires. They used to rant about the Netherlands daily...so since I'm really not familiar with it, I sit back and listen, but some of their stories bordered on the Mafia absurdity. I honestly hope they were exaggerating.

It's a clusterf**k. You're right, the court decision is that the wealth tax is indeed unlawful, but new legislature that has been approved and will be enrolled in the next several years which means you're going to pay taxes over actual profits you made on your investments or savings. Right now it's merely an estimate. So; bad news. There are basically no advantages for you to stay there, as a millionaire. Housing prices are absurd and it's Calvinistic mindset makes people hate on those who are doing better than average. If one can take it's business elsewhere it's better to do so.

 

[Alonzo]

It's a clusterf**k. You're right, the court decision is that the wealth tax is indeed unlawful, but new legislature that has been approved and will be enrolled in the next several years which means you're going to pay taxes over actual profits you made on your investments or savings. Right now it's merely an estimate. So; bad news. There are basically no advantages for you to stay there, as a millionaire. Housing prices are absurd and it's Calvinistic mindset makes people hate on those who are doing better than average. If one can take it's business elsewhere it's better to do so.

Unless your wealth is in your own company shares it falls into box 2 but I’ve heard they will change that.

You already have this in Switzerland, but when I did the math it don't really hurt me with 5 million francs only a few thousands to pay while the most got invested into property.

I mean… Of course it doesn’t hurt you. I would love to pay 20% income tax - 0.2% wealth tax instead of 50% income tax - 1% wealth tax

 

[JackAlabama]

Unless you’re wealth is in your own company shares it falls into box 2 but I’ve heard they will change that.

I mean… Of course it doesn’t hurt you. I would love to pay 20% income tax - 0.2% wealth tax instead of 50% income tax - 1% wealth tax

switzerland already has a (low) wealth tax. Increasing this rate is easy and fast. (besides that its an unfair tax bc one has already paid income tax on it, theyd rather do away with the inflation tax).

 

[dany]

But if you only have to pay 21% in total tax with high income and 5m on the bank account, that is acceptable isn't it? I think remembering that @EliasIT only pay less than 10% income tax he said in other posts.

 

[GPT]

The Netherlands has a hefty wealth tax as well. It is a good country for the lower and middle class as everything is taken care of. But you have to be crazy to live there if you are a millionaire. You pay around half of your hard earned money, and on top of that you pay tax on your hard earned money sitting in your bank account, brutal. Not to mention inflation that'll eat it away as well.

Since taxes keep rising I agree with OP's statement that it is better to leave the EU.

And specifically for the Netherlands, they seem to be discussing an exit tax as well. Better leave before that one is implemented.

I honestly hope they were exaggerating.

They are not...

I also left NL a long time ago and since then it only got worse.

 

[intlman]

Lost all my wealth in a boating accident. What a shame.