But of a long one - but can’t help myself thinking of this when I see some of the posts..
You generally see a lot of good posts on here about legally structuring xyz - tax avoidance (legal).
But you also get a hell of a lot of tax evasion, money laundering (evading tax) idiotic questions from time to time.
What I don’t understand - the average tax agency doesn’t give a hoot about say 20k here or there because if you really went through taxes with a fine tooth comb and did all the deductions you’d probably find actually the government owe you money (mine paid me close to 10k when I got round to it a year and bit after leaving the UK).
So I am surmising a lot of these posts are in the 100,000 region. ++
Which is where I am dumbstruck on a number of reasons.
- it’s almost impossible to operate company that generates 6 figures of undeclared income annually in the western world without some form of either digital or physical trail, for physical you have so many checks and balances least not the cost of operating (energy, rent etc - which has all risen and by all accounts depleted most revenues for SMEs)
Which leads me to think
- digital
- dark
- grey
Digital likewise has so many traces and checks and balances - to operate anything you have to pay vendors and those vendors are paid digitally and well that information is shared with the government along a number of avenues - VAT (vendors),Whois (domains), banks / payment processors etc
Now there’s Dark and grey which will be bundled - let’s say it’s cash or crypto - crypto is tracked and fucking he’ll they really do have you tracked from system to validator/minor to applets to banks, cash on the other hand is worthless unless it can be spent and if you are shifting 100k a year in cash profits I have to ask what sort of business one is in to have that as profits outside of the usual reported profits where the government isn’t looking into you for to understand how you survive if you don’t have normal operational revenues, profits etc I.e that will flag up also.
So really my question is - if (and this goes out to those continuing to come on with evidently stupid questions about hiding illicit (illegal/undeclared/untaxed) funds of this magnitude - why on earth are you not living abroad where you don’t have to jump through these hoops (if legal but undeclared/untaxed).
The tax man has what? 6 yrs on most cases to come after - money laundering has no statute of limitations (UK☺)
Is 100k undeclared/untaxed but evaded really worth 5+ yrs in prison and loss of assets - ability to own a business, bank, get finance, marital issues and more?
Nah f**k that it’s peanuts - in comparison - so why on earth don’t you/these people
1) structure when you are going to do something to lower taxes later - it costs a couple of grand at most and perhaps living overseas for a bit
2) realize profits overseas whereby they are not taxed if non resident (crypto for example) - pre realizing structuring.
3) just pay the dam tax - its 20-25k per hundred k
Say it’s a larger number 1m
-low hanging fruit
-example setting
Or x tax and sleep at night, or if it’s a investment - leave x country and reduce taxes and return later - it’s macro summer - time to leave is now if invested in various markets.
Hopefully jolt a few of the bone heads that come here looking post gathering a loot on how to evade and spends
As some content reads like a safe thief that has robbed the bank, got his loot only to walk outside and remember he forgot to hire a getaway driver
You generally see a lot of good posts on here about legally structuring xyz - tax avoidance (legal).
But you also get a hell of a lot of tax evasion, money laundering (evading tax) idiotic questions from time to time.
What I don’t understand - the average tax agency doesn’t give a hoot about say 20k here or there because if you really went through taxes with a fine tooth comb and did all the deductions you’d probably find actually the government owe you money (mine paid me close to 10k when I got round to it a year and bit after leaving the UK).
So I am surmising a lot of these posts are in the 100,000 region. ++
Which is where I am dumbstruck on a number of reasons.
- it’s almost impossible to operate company that generates 6 figures of undeclared income annually in the western world without some form of either digital or physical trail, for physical you have so many checks and balances least not the cost of operating (energy, rent etc - which has all risen and by all accounts depleted most revenues for SMEs)
Which leads me to think
- digital
- dark
- grey
Digital likewise has so many traces and checks and balances - to operate anything you have to pay vendors and those vendors are paid digitally and well that information is shared with the government along a number of avenues - VAT (vendors),Whois (domains), banks / payment processors etc
Now there’s Dark and grey which will be bundled - let’s say it’s cash or crypto - crypto is tracked and fucking he’ll they really do have you tracked from system to validator/minor to applets to banks, cash on the other hand is worthless unless it can be spent and if you are shifting 100k a year in cash profits I have to ask what sort of business one is in to have that as profits outside of the usual reported profits where the government isn’t looking into you for to understand how you survive if you don’t have normal operational revenues, profits etc I.e that will flag up also.
So really my question is - if (and this goes out to those continuing to come on with evidently stupid questions about hiding illicit (illegal/undeclared/untaxed) funds of this magnitude - why on earth are you not living abroad where you don’t have to jump through these hoops (if legal but undeclared/untaxed).
The tax man has what? 6 yrs on most cases to come after - money laundering has no statute of limitations (UK☺)
Is 100k undeclared/untaxed but evaded really worth 5+ yrs in prison and loss of assets - ability to own a business, bank, get finance, marital issues and more?
Nah f**k that it’s peanuts - in comparison - so why on earth don’t you/these people
1) structure when you are going to do something to lower taxes later - it costs a couple of grand at most and perhaps living overseas for a bit
2) realize profits overseas whereby they are not taxed if non resident (crypto for example) - pre realizing structuring.
3) just pay the dam tax - its 20-25k per hundred k
Say it’s a larger number 1m
-low hanging fruit
-example setting
Or x tax and sleep at night, or if it’s a investment - leave x country and reduce taxes and return later - it’s macro summer - time to leave is now if invested in various markets.
Hopefully jolt a few of the bone heads that come here looking post gathering a loot on how to evade and spends
As some content reads like a safe thief that has robbed the bank, got his loot only to walk outside and remember he forgot to hire a getaway driver
