Uncategorised

EU Tax Identification Numbers [TIN] for Everyone

The EU is laying the groundwork for everyone in Europe to be given a new tax ID number in preparation for moving to electronic money.

The plan also calls for the EU to take over member states’ corporate taxation powers with a common corporation tax base, banning sovereign states from increasing their competitiveness by cutting corporation tax below 15%. This will be part of an EU tax system in which they want to control how much tax we pay & know exactly what possessions each of us own.

Watch out for even more tax and spend plans from the EU [on top of those from the UK government]. Who pays? Well us, of course……

A Socialist Budget by a Tory Chancellor

Tax and spend – sound familiar? Its back to the 70’s again but this time with a Tory take on a Labour budget.

END OF AMBITION

Do you want to be successful in the UK? Then we will punish you with higher taxes and [even higher] road taxes. Oh yes and we will stop you from providing for a comfortable retirement in your senior years by preventing you from investing in your pension as we want to tax you NOW so we can spend it NOW.

This was the new government’s chance to show REAL leadership by making HARDdecisions like tackling the public sector £1½T pension deficit & announcing dramatic cuts in an over bloated public sector which wastes £1 in every £6. Instead the issues were ducked and they forced higher taxes on the private sector to pay for all this largesse and utter nonsense. Back in the 80’s, the Conservative government announced massive public sector cuts in the midst of a deep recession, tackled the unions, told Big Pharma to rebate £100M [@ 1981 prices] for overcharging the NHS and fought against cartels. Taxes were reduced resulting in even more profits and more taxes being made and paid as well as enabling more entrepreneurial flair to come to the fore.

Higher taxes and the end of ambition are not the answer for the next 5 years.

In Italy, They’re Now Taxing Shadows [yes, really]

Store owners in Conegliano, Italy are now faced with the unfortunate (albeit comically absurd) proposition of paying taxes on shadows

For example:

If a store or a bar has an awning outside, which creates a shadow on public property, they must pay a fee that is part of the tax on public land use.

Mathias, 31, took over his shop in 2008. Outside, to protect the window from the sun so that the foodstuffs are not directly exposed to light, he has installed a curtain of 4 m2. A few days ago he received from Abaco, the company that manages the tax on behalf of the City, the payment request. The tax is charged at €8.40 per m2 and the fee payable was €34.

The best thing about this policy (if you’re the government) is that taken to its logical extreme, you could charge everyone a fee on sunny days as you are probably using public land by casting a shadow. Coming to a UK Chancellor ….soon.

Will YOU Be The 100th Monkey?

Published on 16/04/2012

In the early 1950’s, a group of Japanese scientists observing the behavior of macaque monkeys on the island of Koshima noticed that a small number of these primates had begun washing their food before eating.

After years of observation, the scientists noticed that the number of monkeys who were washing their food prior to eating was increasing until, for some as yet ‘unexplained’ reason, when the 100th monkey began to wash his food, suddenly all 10,000 monkeys on the island of Koshima began washing theirs too. The Hundredth Monkey Syndrome hypothesises that there is a point at which if only one more person tunes in to a new awareness, that field of energy is strengthened so that the new awareness is picked up by almost everyone. Or so this story goes.
In the business world, more and more SME owners are waking up to what is possible regarding mitigating their taxes AND doing something about it. Saving tax is not just for large corporates. The biggest growth area in the past 15 years in the collection of Corporation Tax has been from the SME sector – will you be one of them or will you be the 100th monkey?
1