YES!! TAX PARADISE AGAINST THE GLUTTER STATES


Never have tax havens been so good despite the crusade launched in 2009 by the leaders of the developed countries. If we look at the geographical origin of direct investment in France or in other advanced countries, the role of the hub of paradise is obvious:

49% of investments in France are held by entities located in the Netherlands, Luxembourg, the United Kingdom and Switzerland. And 47% of the stock of foreign investment in France is held by investors located in tax havens, the Netherlands, always them, representing a third of the total, followed by the United Kingdom, Luxembourg and Switzerland.

The European Union is its own tax haven. Tax havens are now a vital part of our economy . The tax lawyer Edouard Chambost, specialist of the subject gives eloquent figures: "55% of the international trade or 35% of the financial flows transit by them".


Why do they attract such appeal?

It is already necessary to know the few characteristics of tax havens even if the OECD indicates that it is difficult to define them. And that the French General Tax Code employs to this end a mild euphemism, that of "country with privileged tax system" :. These offer unquestionably economic and especially fiscal stability with a very low level of taxation and exchange freedom in a highly developed and efficient financial sector. The Isle of Man employs almost a third of employees in finance. Banking and commercial secrecy is unshakeable. And in a globalized competition tax havens compete with each other at least-tax. Example:

The region of offshore centers such as Mauritius, offers a level of taxation of 1.5% The race to zero tax is launched - Jersey already offers the possibility. Some countries even practice as a "negative tax" to attract foreign investors.

How can France compete? She lost in advance and became the laughing stock of the world. Remember the red carpet rolled out by the Prime Minister of the United Kingdom, the shattering output of Gerard Depardieu. Not wrong.

France is now the country where taxation and corporate social security are the heaviest . To name only the corporate tax

33.33% of retained earnings and wage expenses of 1/3 paid by employees and 2/3 by employers. There are no withholding taxes for income tax. A tax hell for a greedy state and bad manager.

The confiscatory state prefers to return the pockets of its citizens and let the great fortunes slip away . He prefers to let the CAC40 companies benefit from these off-shore places with a shortfall of 10 billion Euros and kill our SMEs .. All in the name of a hypocritical ideology, the struggle of the poor against the rich.

The ideological blindness leads our leaders to ignore even what is happening on our doorstep in Europe itself. No need to join the ten overseas territories or British Crown Dependencies, which make up one-fifth of the world's tax havens like Bermuda, the British Virgin Islands, the Cayman Islands, Gibraltar, Anguilla, Montserrat, the islands Turks and Caicos, Jersey, Guernsey and the Isle of Man. In the European Union, a number of states have adopted very mild taxes, based on Flat Tax , and sometimes with very strict legislation on banking secrecy. Thus Estonia and its Baltic neighbors, the Czech Republic, Slovakia and Slovenia.

Tax havens are currently a sting in the global economy.

Indeed the funds deposited in the tax havens, countries not having enough assets to place the latter, return to invest in the real economy of the fiscally gluttonous countries by games of electronic writing cleverly orchestrated in financial montages . The work of Haward's Desai researcher shows that the presence of easy-to-access tax havens near greedy states encourages investment decisions in these countries by increasing the return on investment for investors.

If the countries of old Europe, and especially France, did not stick to these outmoded principles of state welfare, investors would not run away with their legs.

That France, in turn, adopts a soft taxation close to the Flat Tax and our flagships, our banks would remain fiscally in France in the best interests of all. Let us bet then that BNP Paribas - whose State is the first shareholder, with 17% - capital would no longer have 189 offshore subsidiaries in tax havens, Banques Populaires 90, Crédit Agricole 115, LVMH 140 (including 33 in Guernsey), Schneider Group 131 ...

The economic impact of such a reform would be very positive. Let's go even further: why not find harmonization in this sense within the European Union instead of wanting to adopt retaliatory measures against these tax havens?

Has Ireland not already partly based its development on this tax competition by lowering its corporate tax rate to 12.5% ​​to attract large companies. ?

Let's go a little courage gentlemen and ladies policies !!




Joanne Courbet for DayNewsWorld.