Friday, 8 January 2016
Thursday, 7 January 2016
UK : FOREIGN BANKS PAY LITTLE TAX ON PROFITS !
Not for the first time Politicians in Britain are complaining that foreign Banks with active subsidiaries in the UK, pay little or no tax on their results.
These complaints have been going on for years, so what is really surprising is that no responsible Government official has ever denied that there is a "tax avoidance" problem !
The correct issue really is "Why is tax avoidance tolerated ?"
There is a basic rule when preparing a tax declaration : it is permissible to avoid paying tax if no "illegal methods or accounting principles" are employed.
The British Chancellor, George Osborne, must legislate to erase doubt over any possible misinterpretations of tax laws. Tax Inspectors must use audit principles to determine whether a Declaration appears to be satisfactory.
This is particularly the case when a healthy company or bank seems very profitable, yet pays little or no tax. When the mother company abroad pays normal taxes on its operations, why not its subsidiary ?
Normally any company must justify its calculations and the principles it used to determine its tax liability.
If Inspectors are still not satisfied with the explanations they have received, a detailed audit should be undertaken !
In the end, the Chancellor should legislate, or deny that there is a problem of underpaid taxes ! He is the Minister responsible for ensuring that proper taxes are recovered !
.Wednesday, 6 January 2016
EU MUST CHANGE TO SURVIVE !
The "spirit" of the "Union" embedded in Treaties now no longer seems to exist :
1. At present there are 19 countries in the "EUROZONE" and 9 other countries which do not have the Euro as their national currency. This means that if the 19 "block vote" they can totally control any changes proposed to current EU treaties and all new legislation. This destroys the spirit of the "Union " !
2. The "EUROZONE" powers should be limited to only ensure the protection of the EURO. Operating decisions required for the EURO should not affect non-EURO countries.
3. All entry points into the EU (on land, at sea ports or at airports) should be manned to stop illegal immigrants and illegal imports. The total cost should include the fencing required on all external EU borders. The total cost should be shared proportionately by all EU countries.
4. The "freedom of movement " of people and goods within the EU should be redefined.
5. The total costs of EU countries fighting Islamic Terrorists in the Middle East, should be borne proportionately by all EU countries !
The Middle East turmoil has severely tested the whole EU. The individual initiatives by Countries which cannot accept any more Immigrants, or even EU Migrants, has led to the construction of Land Barriers, or Fencing, even "Inside" the EU.
"Nationalism" has reared its ugly Head, because in fact all countries in the EU are still proud of their Origins and are still Patriotic ! Is the EU not really becoming the "European Federation" ?
In this context one must not forget that in several countries voters have increasingly elected Nationalist candidates at the expense of the traditional parties. Electors want changes !
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804 VOITURES BRULEES...
Statistiques encourageantes : Il n’y a eu QUE 804 voitures brûlées pendant la nuit de la St Sylvestre au lieu de 940 l’an dernier.
MARIN
Tuesday, 5 January 2016
FRANCE : CAN HOLLANDE TRY FOR SECOND TERM ?
Normally a President can expect to be accepted by his Party as a candidate for a second Term, unless his first term has been catastrophic. If it is, then party supporters and MPs become nervous and reluctant to back a candidate who might be a loser.
In France at present, everything President Hollande says or does or proposes to do, is quickly scrutinized. This reveals just how much he has lost the confidence of electors.
During his first term as President he has fulfilled few of his 60 election promises. Also, he has said several times that, if he cannot reduce unemployment, he would not be a candidate. Unemployment has risen virtually every month since he was elected in May 2012.
In his New Year's Speech, he announced plans to train 500 000 unemployed people; mathematically it would reduce the number of people out of work ! But, how long will this take ?
His economic policies have been a disaster and France has become the bad boy of the Eurozone !
France and the whole world, including Russia and the USA, is now at war against the Islamic Extremists. After the Terrorist attacks in France last year, there is a feeling of insecurity here and in other countries as well.
The extreme right National Front Party (FN) has now become the third political force in France and will have its own Presidential Candidate, Marine Le Pen. FN has won the votes of many disillusioned electors from both the left and right.
The Socialist Coalition is disintegrating : the Extreme Left is disenchanted and will probably select its own Presidential Candidate. The Greens and the Ecologists could also have their own candidate, or could seek to support a non Socialist Candidate.
The newly formed center-right group "The Republicans", led by former President Sarkozy, will hold primary elections in the Autumn of this year to determine their candidate. Will it be Nicolas Sarkozy, or could it be Alain Juppé who is, at present, very popular ?
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Saturday, 2 January 2016
FRANCE : PRESIDENTIAL PLANS AND HOPES FOR 2016
President Hollande, while presenting his annual New Year's "Good Wishes" to French citizens, announced that his two main objectives in 2016 are to ensure the security of France against further Terrorist Attacks and, but not least, to take more new measures to reduce or prevent more Unemployment.
The year 2015 has been catastrophic. It started badly with the Terrorist attack on the satyrical newspaper "Charlie Hebdo" on January 7 + 9, 2015. It ended with the attack on November 13, (11-13-15) on the Bataclan theater. There were several other alerts during the year.
The economic condition of France has also suffered since the election of President Hollande in May 2012. Government spending in 2015 will outstrip income by about 700 Million Euros, but the reasons for any overruns, even in 2016, will be ascribed to higher costs for tighter security.
However, what is quite clear is that Hollande wants to stand for a second term as President in May 2017. Whether he will be able to, depends really on whether he can convince the Socialist Coalition that he is the best Candidate who could beat even Opposition Party candidates !
The 2017 Presidential Election is on the minds of all politicians in France !
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