ExxonMobil says it doesn’t expect to pay any Australian corporate tax until 2021

ExxonMobil says it doesn’t expect to pay any Australian corporate tax until 2021:

Amid questions at Senate inquiry over subsidiaries allegedly designed to avoid tax, unions call company a ‘very bad corporate citizen’

It was one of 732 corporations that paid no corporate tax in the 2015-16 financial year. In fact, the multinational giant has not recorded a taxable income or paid corporate tax in Australia for three years in a row, despite reporting revenue of $9.6bn in 2013-14, $8.5bn in 2014-15 and $6.7bn in 2015-16.

H/t reader kevin a.

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Mieten-Explosion wegen Grundsteuerreform – Immobilieneigentümern droht 30-fache Grundsteuer-Erhöhung

Mieten-Explosion wegen Grundsteuerreform

Neue Formel: Immobilieneigentümern droht 30-fache Grundsteuer-Erhöhung:

Der Eigentümerverband Haus & Grund warnt vor erheblichen Belastungen für Hausbesitzer und Mieter durch die geplante Grundsteuerreform und fordert die Bundesregierung auf, die Reform zu stoppen.

Wie FOCUS berichtet, hat der Verband für 500 Immobilien in verschiedenen Städten die Grundsteuer nach der neuen Formel berechnet und eine Erhöhung um durchschnittlich das 30-fache ermittelt. In Einzelfällen müssten Eigentümer sogar eine Erhöhung um das 50-fache des jetzigen Betrags hinnehmen.

Der Präsident von Haus & Grund, Kai Warnecke, forderte angesichts der Berechnungen gegenüber FOCUS, die neue Bundesregierung müsse „die Pläne der Länder stoppen. Der Staat darf die Kosten des Wohnens nicht weiter in die Höhe treiben.“

Read moreMieten-Explosion wegen Grundsteuerreform – Immobilieneigentümern droht 30-fache Grundsteuer-Erhöhung

Immobilieneigentümern droht 30-fache Grundsteuer-Erhöhung. Wenn es so weiter geht, landen jene auf der Straße, die den ganzen Wahnsinn finanzieren.

The Paradise Papers: How Ridiculously Easy It Is For The Rich To Avoid Taxes

The Paradise Papers: How Ridiculously Easy It Is For The Rich To Avoid Taxes:

A little too easy…

The revelations in the Paradise Papers followed quickly on the release of the Panama Papers (English majors please note the allusion to the Pentagon Papers).

Both of these Papers were revealed by an organization with the cumbersome name of The International Consortium of Independent Journals (ICIJ) — a group in need of a new name and a publicity agent. That name gives the impression of some mining cartel intent on keeping up the price of gold and diamonds.

To the contrary, it is a group of dedicated journalists who recognized that they could not honestly report on tax evasion when they were working for mainstream media. The media barons and major advertisers are prime users of the tax evasion system. So these journalists gave up successful and lucrative careers to dedicate themselves to exposing offshore tax fraud. The Panama and Paradise Papers are a tribute to their courage, sacrifice, and dedication.

H/t reader squodgy:

“Makes me feel all warm & happy inside.”

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Greece: August sees billion euro uptick in unpaid taxes – “They will impose you a huge & unbearable tax but will not catch up” — Saint Kosmas Aetolos

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“I THOUGHT I WAS MIDDLE CLASS”

“Don’t believe what you hear on TV from paid for propagandists. You are going to get screwed so corporate fat cats can boost their profits even more.”

I THOUGHT I WAS MIDDLE CLASS:

“The best way to teach your kids about taxes is by eating 30% of their ice cream.” – Bill Murray

When I saw that slimy tentacle of the Goldman Sachs vampire squid, Gary Cohn, bloviating about Trump’s tax plan and how it was going to do wonders for the middle class, I knew I was probably going to get screwed again. And after perusing the outline of their plan, it is certain I will be getting it up the ass once again from my beloved government.

I know everyone’s tax situation is different, but I’m just a hard working middle aged white man with two kids in college and some hefty family medical expenses.

I’m already clobbered with Federal, State, City, and real estate taxes, along with huge toll taxes, sales taxes, gasoline taxes, utility taxes, phone taxes and probably a hundred more hidden taxes and fees.

I fucking hate taxes and want nothing more than to see them cut dramatically. I voted for Trump for the following reasons:

  1. He wasn’t that evil hateful shrew named Hillary Clinton
  2. He promised to repeal and replace Obamacare
  3. He promised to build the wall
  4. He promised to keep out Muslims
  5. He promised to reduce our military interventions around the world
  6. He promised to reduce my taxes

Well, one out of six ain’t bad. Right?

I know the Trump sycophants have a million reasons why he has been thwarted, but his pathetic support of the last GOP Obamacare lite bill reveals him to becoming just another establishment pawn. He has taken war mongering on behalf of the military industrial complex to a new level. No wall on the horizon. Now it is a figurative wall. And now he is disingenuously selling this tax bill as a huge windfall for the middle class, which is a lie based on my analysis of the known details. The truth is they need to screw the upper middle class in order to reduce corporate tax rates.

Read more“I THOUGHT I WAS MIDDLE CLASS”

How To Destroy An Economy – India’s New Tax System Is “Mind-Bogglingly Inane”

How To Destroy An Economy – India’s New Tax System Is “Mind-Bogglingly Inane”:

“…India’s new Goods and Services Tax is mind-bogglingly inane…Modi has been able to mesmerize voters to an extent that he can make even pain appear as something that is pleasurable and he has been able to conquer state after state and has an invincible aura about him now. Such acts always bring Goebbels to my mind.”

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Google avoids paying $1.64 BILLION in back taxes after winning French court case

Google avoids paying $1.64b in back taxes after winning French court case:

Google will not have to pay 1.1 billion euros ($1.64 billion) in back taxes after winning a court case in Paris.

France’s tax authorities unsuccessfully argued that Google should have paid that amount of tax between 2005-2010.

The US tech giant sold online advertising which was displayed in France but booked through its subsidiary in low-tax Ireland.

The court ruled that the way in which Google operates in France allows it to be exempt from most taxes.

H/t reader kevin a. 

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