Word: taxed
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Last year, when the International Monetary Fund published a paper on offshore tax havens, it included Switzerland, the Cayman Islands, Jersey, the Bahamas and several other countries where the rich stash their money beyond the reach of grabby governments back home. But there was one surprising new entry on the list: the United Kingdom. The IMF was merely recognizing what wealthy foreigners in Britain have known for years. While British citizens shoulder taxes of up to 40%, residents who weren't born there can take advantage of the nondomicile - or nondom - rule, which means they're only taxed on income...
...bonanza time for nondoms - like Christmas every day." But here comes the Grinch. Spurred on by mounting criticism over what many see as unfair special treatment for rich foreigners, the British Treasury has announced that the fun is over. Along with a new 18% flat rate for capital-gains tax, the government is proposing an annual fee of around $60,000 for any foreigner who lives in the country for more than seven years, and wants the tax man to keep his hands off their non-British assets. Anyone unwilling to stump up that fee will have to pay taxes...
Where will they - and their cash - go? They have plenty of options. Guernsey, Ireland, the Isle of Man, Jersey, Luxembourg, Monaco and Switzerland all boast no or low taxes for expats, and are all less than a three-hour flight from London. Cast the net wider and there are dozens of countries offering perfectly legal perks and breaks to attract tax exiles. There are more than 45 recognized tax havens, holding up to $7 trillion in assets, and these numbers are growing. According to the Boston Consulting Group, the number of households with assets of $1 million or more swelled...
...States to vote in any primary or other election for President or Vice President, for electors for President or Vice President, or for Senator or Representative in Congress, shall not be denied or abridged by the United States or any State by reason of failure to pay any poll tax or other tax.” While the amount of this tax may seem trivial—at its highest it remains under two dollars—it is virtually impossible for a college student living outside of their state to vote without paying some sort of price. However small...
...it’s one that needs to be addressed sooner rather than later. The process of voting by mail needs to be made more straightforward or citizens may be unfairly disenfranchised—the best and easiest way to do this is to abolish the de facto tax that taints the process...