Oracles have spoken - what the future holds

[Don]

In this world, nothing is certain except death and taxes, Benjamin Franklin famously said. Billionaires may not yet have achieved immortality, but they have certainly become more agile at avoiding the taxman. Over the last decades, globalization has opened new evasion possibilities exploited by multinational companies and wealthy individuals around the world. Here is some interesting reading about that topic:

https://www.taxobservatory.eu/www-site/uploads/2023/10/global_tax_evasion_report_24.pdf

I believe it's pretty helpful for predicting future regulatory changes and useful for choosing legal structures that are either flexible enough or suitable long term.

We may not be too far away from a global asset registry, global taxation of the wealthy, and taxation of rich non-residents. Question is when will these things happen.

 

[bonox]

We may not be too far away from a global asset registry, global taxation of the wealthy, and taxation of rich non-residents. Question is when will these things happen.

very soon, I believe so soon that we whish we could have done something before it is put into action.

 

[scooterguy]

very soon, I believe so soon that we whish we could have done something before it is put into action.

I think we're doing it. It's the majority of the population that just accept whatever tax comes their way and they don't do anything about it.

A lot of people have realized they can now work remotely (they needed Covid to realize that), but they have no clue that they could escape their taxman very quickly.

I really don't know what people think about during their free time. I guess they just scroll through social media mindlessly.

 

[TheCryptoAnt]

I really don't know what people think about during their free time. I guess they just scroll through social media mindlessly.

yeah

 

[Radko]

I think there will always be a way to avoid paying taxes.

They make the tax laws, others make the way to avoid them.

There are a good number of countries that are benefiting from helping people to avoid paying taxes.

We may have to bounce from county to county as things change over the years.

 

[Don]

Interesting trends.
Looking at figure 1.2., it hurts to admit again that Europe is turning into a shithole => capital has been fleeing to Asia.

Asian offshore centres are defined as Hong Kong, Singapore, Macao, Malaysia, Bahrain

America has been stable, but I have a feeling that the best times might be over.

 

[Radko]

Interesting trends.
Looking at figure 1.2., it hurts to admit again that Europe is turning into a shithole => capital has been fleeing to Asia.

Asian offshore centres are defined as Hong Kong, Singapore, Macao, Malaysia, Bahrain

America has been stable, but I have a feeling that the best times might be over.

View attachment 5551

A shithole would be a nice complement.

I'm in my last year of living in the EUSSR, once I'm gone I will never come back.

I often wonder if those politicians in Brussels realize what they're doing, or should I say what they have done.

Europe is done.

 

[VanderbiltyMoney]

Interesting trends.
Looking at figure 1.2., it hurts to admit again that Europe is turning into a shithole => capital has been fleeing to Asia.

Asian offshore centres are defined as Hong Kong, Singapore, Macao, Malaysia, Bahrain

America has been stable, but I have a feeling that the best times might be over.

View attachment 5551

Saw this chart over the weekend. Does Malaysia = Labuan ?

 

[Don]

Saw this chart over the weekend. Does Malaysia = Labuan ?

Yes, Labuan is part of Malaysia

 

[VanderbiltyMoney]

Interesting trends.
Looking at figure 1.2., it hurts to admit again that Europe is turning into a shithole => capital has been fleeing to Asia.

Asian offshore centres are defined as Hong Kong, Singapore, Macao, Malaysia, Bahrain

America has been stable, but I have a feeling that the best times might be over.

View attachment 5551

My fault, should have wrote a more clear question.
When you referenced Malaysia being an offshore centre of Asia. Are people mainly offshoring to Labuan entities? or is their a benefit to using "mainland" Malaysia entity?