The Left Party says "there shouldn't be any billionaires." With Germany gearing up for an election, the far-left force has launched a new tax plan — though it will most likely never get a chance to implement it.
Look, the bilionaires will always have ways to get out to pay the least amount of tax possible. There is almost no way to combat that because they have the money to setup a company in another country and setup structures to pay less.
You can however get more income tax from the companies below that. The medium to large sized companies with millions of profit. But it is not feasible to do a taxation for every company every year, it is impossible. There aren’t enough people working in the fields who would be responsible for those reports. (evaluators, accountants, etc.). Evaluating a company generally costs 10-20k minimum.
Idk how it is in other countries, but yeah it’s more like bureaucrazy than bureaucracy here in NL. So you want to add even more bureaucracy into the entire structure?
There are other ways of stopping businesses from abusing the system and governments are working to help fix the issue. But evaluating companies is just not gonna be a good structure for it. It’s way to subjective and in general wealth tax has been shut down by legal systems. Like here in NL, the legal system shut down the previous box 3 wealth system because it was against human rights. And the government and legal system are more separated here in NL than in say something like the US.
Also a lot of small business owners do take loans from their own companies (if it is something like a BV/Ltd). Sometimes we talk over a couple thousand, sometimes it’s a couple 100k and sometime’s it;s one or more millions and I mainly work with small to medium-sized companies.
Look, the bilionaires will always have ways to get out to pay the least amount of tax possible. There is almost no way to combat that because they have the money to setup a company in another country and setup structures to pay less.
You can however get more income tax from the companies below that. The medium to large sized companies with millions of profit. But it is not feasible to do a taxation for every company every year, it is impossible. There aren’t enough people working in the fields who would be responsible for those reports. (evaluators, accountants, etc.). Evaluating a company generally costs 10-20k minimum.
Idk how it is in other countries, but yeah it’s more like bureaucrazy than bureaucracy here in NL. So you want to add even more bureaucracy into the entire structure? There are other ways of stopping businesses from abusing the system and governments are working to help fix the issue. But evaluating companies is just not gonna be a good structure for it. It’s way to subjective and in general wealth tax has been shut down by legal systems. Like here in NL, the legal system shut down the previous box 3 wealth system because it was against human rights. And the government and legal system are more separated here in NL than in say something like the US.
Also a lot of small business owners do take loans from their own companies (if it is something like a BV/Ltd). Sometimes we talk over a couple thousand, sometimes it’s a couple 100k and sometime’s it;s one or more millions and I mainly work with small to medium-sized companies.