the last
10
20
30
50 years
the corporates crooks and followers got away with murder??
those days accounting was very vague,
i have been working with all kinds of dealers??
no one paid taxes??
wonder if Mr xxxx , how much taxes has been paid by fortune???
2 millions , maybe 40000/year
5 millions , maybe 20000/year
10 millions, maybe 10000/year
and getting the pension...
100 millions or more, pay the minimun of taxes treshold???
who care they are the big crooks of the system...
pay nothing?????
that for private fortune..
companies are all equals, but depend how they play the inter companies
Good on ATO,, they try to catch the tax evasion....
but the corparate law allow the evaders to be innocent..
in fact it a SHAME
What is Tax Avoidance and Tax Evasion?
Another way to legally avoid taxation is to create an altogether different legal entity towards which one donates his property. By using this method, a person does not need to change his country of residence. Any trust, foundation or company may act as the separate legal entity. In this method, all the assets are required to be transferred to the trust or company so that the income generated is associated with the company or trust and not the individual owner.
Now, we would talk about tax evasion. Tax evasion is a general term which refers to all those tactics and efforts which are applied by various companies, individuals, trusts and firms to evade taxes through illegal means. Tax evasion usually involves false representation of the earnings of a firm or company to the tax authorities. It means that lesser income is reported to the tax authorities for evading the taxes. In order to evade taxes, a lot of tactics are used by people and companies. Evading the custom duties is one of the most commonly used methods for tax evasion. In developing countries, custom duties form a very important source of revenue.
In order to evade taxes, importers do under invoicing and false declaration of amount and description of products. Under invoicing helps in reducing the tax base in those cases where ad valorem import duty is levied. Smuggling is also a way of tax evasion. Smuggling refers to export and import of goods through unauthorized routes. Smuggling altogether evades taxes as it involves getting good received or delivered in to or from a country without giving any clue to the concerned custom authorities.
http://www.amitbhawani.com/blog/what-is-tax-avoidance-tax-evasion/
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