To the SCMP
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Joined: Apr 2013
Posts: 81
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From: Hemisperes
To the SCMP
Cathay AND Hong Kong need to fight the U.S./IRS. This will just be the beginning! If CX/HK capitulate to one of the most egregious and hypocritical nations in the world, more will follow! A privacy ordinance is just that!
The U.S. Cannot just go around bullying foreign countries and companies hunting for people. The is truly the most outrageous issue I have ever seen in my life. If Americans dont't fight this hard, you'll only have yourselves to blame and then will wind up screwing the rest of us. Canada then Australia then the U.K. and all of Europe will be next.
Again, this recent tax issue is just the beginning of what will be giving up ALL your rights at a citizen/person. Honestly, how did Barack Obama get voted back in?
The SCMP needs to have a huge full page cover story on this!
The U.S. Cannot just go around bullying foreign countries and companies hunting for people. The is truly the most outrageous issue I have ever seen in my life. If Americans dont't fight this hard, you'll only have yourselves to blame and then will wind up screwing the rest of us. Canada then Australia then the U.K. and all of Europe will be next.
Again, this recent tax issue is just the beginning of what will be giving up ALL your rights at a citizen/person. Honestly, how did Barack Obama get voted back in?
The SCMP needs to have a huge full page cover story on this!
Joined: Jun 2009
Posts: 2,167
Likes: 2
From: Australia
So you don't want to pay US Tax, is that it? You hiding something perhaps you don't want "your" IRS to know?
As an American you've always had to pay Tax on some of your money earned overseas haven't you? What's changed?
You'll get it back later won't you?
No different to what CX does with the Aussie based Pilots. We pay both HKIRD and ATO then get some of it back from the ATO later. ( they won't give credit for Provisional Tax and this means we are out of pocket $5 to $10K AUD until we retire )
As an American you've always had to pay Tax on some of your money earned overseas haven't you? What's changed?
You'll get it back later won't you?
No different to what CX does with the Aussie based Pilots. We pay both HKIRD and ATO then get some of it back from the ATO later. ( they won't give credit for Provisional Tax and this means we are out of pocket $5 to $10K AUD until we retire )
Joined: Apr 2002
Posts: 56
Likes: 7
From: HK
Um, yes they can, and they do.
CX/HK already capitulated to the US government on the cargo price fixing fines, or the money laundering fines imposed on HSBC.
HK companies don't have to co-operate, but having the US government shut down not only your US operations, but also any part of your business that might impact the US, is a very effective way of getting "voluntary" co-operation. Plus the threat of jail time.
Is it a legal shakedown? Yep, absolutely. Ask Iran how effective fighting it is...
CX/HK already capitulated to the US government on the cargo price fixing fines, or the money laundering fines imposed on HSBC.
HK companies don't have to co-operate, but having the US government shut down not only your US operations, but also any part of your business that might impact the US, is a very effective way of getting "voluntary" co-operation. Plus the threat of jail time.
Is it a legal shakedown? Yep, absolutely. Ask Iran how effective fighting it is...
Joined: Apr 2002
Posts: 56
Likes: 7
From: HK
The standard reply from the US government is that even US citizens living abroad should contribute to defence/ "the common weal". Plus they still get to vote even when abroad.
Don't like it? Then give up your US passport.
Don't like it? Then give up your US passport.
Joined: Jun 2007
Posts: 391
Likes: 0
From: London
Freehills ; A bit harsh ! Lots of us made heartfelt decisions to seek 'tax free' positions in order to benefit the status. We did not seek to manipulate the system like many in CX, Taiwan & the Middle East where people spent more time in their homeland than in the 'declared' place of residence. Tax cheats in otherwords. I was not in favour of high taxes for which the returns were awful. Dreadful schools,chaotic public transport, dangerous hospitals & wicked governmental issues where at one point, in the UK, I was amomngst the highest taxed earners in the world (direct added to indirect). I joined others, forsaking my homeland & enduring vastly different cultures & religions and lifestyles in order, one day, to return to the Fatherland, cash richer. my group, never cheated but declared ourselves non-resident & lived that way. We really were 'non-resident' and forfeited much in order to recoup the taxes we would otherwise have had to pay.
Inland revenue offices are now chasing down the cheats. Different rules for different homelands & I am not suggesting that every tax avoider is a cheat. If the US Government make clear that you pay tax for defence, etc, wherever you domicile, then so be it & you know the rules. Don't hollar "fowl" when that Government seeks to collect.
Legitimate tax 'avoidance' is another game plan but, it is, ligitimate. Mate of mine, very wealthy musician, has, for years, lived six months at home & six months overseas in order to avoid the very top end of tax liability. He would rather live in his delightful mansion in the cotswolds all the year round but suffers six months away. Reasonable forfeit but unpalatable to many.
Day of reckoning for those who thought they were boxing clever, boasted about it & now face the Tax Man knocking at the door.
Inland revenue offices are now chasing down the cheats. Different rules for different homelands & I am not suggesting that every tax avoider is a cheat. If the US Government make clear that you pay tax for defence, etc, wherever you domicile, then so be it & you know the rules. Don't hollar "fowl" when that Government seeks to collect.
Legitimate tax 'avoidance' is another game plan but, it is, ligitimate. Mate of mine, very wealthy musician, has, for years, lived six months at home & six months overseas in order to avoid the very top end of tax liability. He would rather live in his delightful mansion in the cotswolds all the year round but suffers six months away. Reasonable forfeit but unpalatable to many.
Day of reckoning for those who thought they were boxing clever, boasted about it & now face the Tax Man knocking at the door.
