Poland and Denmark have decided that there'll be no government bailouts for corporations registered in offshore tax havens.
The Danish finance ministry on Saturday extended its bailout program into July but stressed that firms based in tax havens would no longer be covered.
"Companies seeking compensation after the extension of the schemes must pay the tax to which they are liable under international agreements and national rules," a translation of the statement said.
"Companies based on tax havens in accordance with EU guidelines cannot receive compensation, insofar as it is possible to cut them off under EU law and any other international obligations."
Poland took similar measures on April 8. Prime Minister Mateusz Morawiecki said large companies wanting a chunk of a roughly $6 billion bailout fund must pay domestic business taxes.
There's an idea that is long over due. Are the Irvings paying attention to this?
ReplyDeleteThis is a good start in the right direction. One of the biggest jokes are the cruise companies that are now clamoring for bailouts after needlessly killing dozens and endangering thousands more. They should be told to go seek bailouts from the countries they registered their ships in to avoid tax, labour, and health and safety laws.
ReplyDeleteCap
I expect, Toby, that there are several tax-haven sinners operating in Canada. Ottawa should shut the door on the lot of them.
ReplyDeleteCap, I've never been on a cruise. For some reason, however, my email has been barraged with solicitations from Norwegian Cruise Lines urging me to sign up for one of their "Peace of Mind" packages. Peace of Mind? WTF does a cruise ship, a floating virus factory, have to do with peace of mind?
ReplyDeleteMound, thanks for this. The more I think about it the more I like it. I sent a suggestion to appropriate politicians.
ReplyDeleteBTW, I think Norwegian Cruise is no longer Norwegian, if it ever was. Their head office is in Miami. Here's a link. https://en.wikipedia.org/wiki/Norwegian_Cruise_Line
Note this quote, "In March 2020, amid the coronavirus pandemic, leaked emails showed that Norwegian Cruise Line staff were instructed to lie to potential customers about the risks of the coronavirus in order to encourage customers to book cruises."
Panama Papers
ReplyDeleteSince the release of the Panama Papers in April 2016, nearly 900 Canadian individuals and corporate entities have been named as being involved in Mossack Fonseca’s tax-dodging operations. However, as the Monitor went to print, no one had yet been prosecuted, and investigative efforts by law enforcement and the Canada Revenue
https://globalnews.ca/news/5403203/canadian-corporations-tax-dodge-11-billion-canadian-revenue-agency/
Bail them out!
I would like to see who on the evasion list is asking for a bailout.
TB
Toby, they used to hang pirates. The bodies of the worst of the lot would be dipped in preservative tar before being hoisted in gibbets.
ReplyDeleteTime to renew old traditions?
ReplyDeleteTB, I would like to hear our prime minister say these tax scofflaws will not receive 'dime one' in any form of relief. Do you think I should hold my breath?
ReplyDelete. Do you think I should hold my breath?
Short answer, NO.
https://www.theguardian.com/news/2017/nov/05/justin-trudeau-adviser-stephen-bronfman-offshore-paradise-papers
TB
He sure doesn't hobnob with the plebs, does he TB?
ReplyDelete