Friday 22 November 2019

Chase tax evaders

• I am tired of hearing about our financial situation, our burden of debt, the banks, interest on bonds, etc. We are all only too aware of the situation, how it was caused and what it will take to fix. Mainly pain for Joe and Mary Soap.

We are inundated with experts two or three at a time daily, on news programmes and in the media in general. Some of them have now written books on the history of our economic collapse. But it's time to turn over the page.

We could look in other directions: tax evasion, for instance. It's widespread in some sectors -- people who can divert income.

I refer to those on huge incomes who pay little or no income tax. They are aided in this avoidance by professionals who make a good living out of it. What is the stance of the economist on that reality?

This is not something new, but has been going on for generations. Did this tax evasion have no effect on our economy in the past? Or currently? If so, where are the economists in this instance?

I read 40 years ago that company law in this country was totally inefficient, allowing major abuses. Is that part of the reason we are in this dilemma?

What of the people signing over pensions and other major assets to spouses and other family members to avoid facing up to personal and company indebtedness?

Those taking assets in the form of currency out of the country to set up elsewhere, leaving major unpaid debts behind? The use of the courts to drag out situations to avoid settlement, in the process creating more debt?

And what of tax exiles using the state, its courts and other public services -- and retaining citizenship without tax contributions?

I have heard that in the US if you want to become a tax exile you can, but you leave your passport behind when you leave. If this is so, good for them.

Let's ask some of these questions and seek remedies from the abundance of smart-come-lately economists.

Harry Mulhern
Dublin 13

Irish Independent

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