Just to add on to Jerry's and Boatyboy's important posts as you can't get any decent information from the JEP.
JERSEY is not unsurprisingly in the bad national press again as the leaked Jersey files by investigative journalists are starting to come to the surface by the British media.
In the Independent today
Here's how to turn the tables on tax avoiders
The problem is that HMRC simply can't compete with the big accountancy firms
By James Moore
Thursday 10 July 2014
If those involved offer up any explanation - and it's rare that they do - it's usually that they were advised to involve themselves in these sort of schemes by their accountants. So they were only following orders, and that makes it alright, doesn't it? Well, no.
Those involved may not have noticed but the rest of the country is still going through austerity. Public sector workers - the people who teach children, cure the sick, keep the country ticking over - have had their pay frozen, their pensions slashed, their workloads increased. Then there are who are looking for work but can't find it, and the young, and the disabled. I could go on.
Every pound stashed in some offshore bolt hole is a pound lost that could be helping them.
The best of it is, the tax burden on the wealthy is coming down. Despite the pain austerity is causing George Osborne lopped 5p off the 50p top rate of tax imposed on earnings above £150,000.http://www.independent.co.uk/voices/comment/heres-how-to-turn-the-tables-on-tax-avoiders-9598606.html
Also worth to read the whole article by
Sunday 19 May 2013
The moral case on tax avoidance is overwhelming - and we all know Google wants to do the right thing
There is nothing law-breaking about tax avoidance and this is of course the point. The law is rigged in favour of the wealthy and the state is at the service of the rich
This is the scandal that currently happens in modern Britain. While low-paid and disabled people are having their state support shredded – no money left, you see – corporate giants like Google are allowed to get away with paying a pittance. From 2007 onwards, the company made £11.9bn worth of revenues in Britain, but gave the taxman only around £10m in corporation tax. Here’s their entirely legal scam: their British sales are registered in Ireland, meaning they technically don’t have to cough up here. Clever, eh?
A few years ago, the issue of tax avoidance languished on the fringes: it was something wonks and geeks worried about. Everyone is now talking about it because an inspirational motley crew of activists called UK Uncut started occupying shops and banks who were guilty of scamming the taxpayer. They stand in Britain’s fine tradition of peaceful civil disobedience, and show it is not just right-wing fronts like the Taxpayers’ Alliance who can create political space – the left can do it, too, with a bit of nous. They helped draw attention to the likes of Richard Murphy, who has drawn up suggested detailed legislation to crack down on the avoiders. Ed Miliband is now pledging an offensive against tax avoidance. Protest works.
This month, UK Uncut’s legal team dragged HMRC to court over a sweetheart deal with Goldman Sachs. It was unlikely they would ever have won – a ruling against HMRC’s legal responsibility for collecting taxes would have been stunning – but the case was damning and revealing. It was “not a glorious episode in the history of the Revenue”, the judge ruled, because it was shrouded in secrecy and lacked proper legal approval. Dave Hartnett, then the permanent secretary for tax, took the “potential embarrassment” to George Osborne into account. UK Uncut have helped expose the murky relationship between corporate titans and the British state.
There is the infrastructure all companies depend on: like having roads and railways. They need a workforce educated by state-provided schools and universities, and kept healthy by the health service. The banks they rely on were rescued by the taxpayer. Because companies are unwilling to pay their workers proper wages, the state steps in to subsidise them through tax credits, housing benefit, and so on. Tax avoiders expect to benefit from corporate welfare but pay nothing in, yet no one calls them “scroungers”.http://www.independent.co.uk/voices/comment/the-moral-case-on-tax-avoidance-is-overwhelming--and-we-all-know-google-wants-to-do-the-right-thing-8622565.html
Why can't Jersey show some civil disobedience and rally for their own vulnerable people but also for the future of their youth who will end up with paying or not able to be paying off the debts current politicians are trying to create because taxpayer's money is wasted and important tax revenue for the island from those UK and foreign companies is not coming in?