Cashless economy?

Nonsense. Corporate tax rate in Italy is 24% plus 3.9% IRAP. And most every penny of due tax is being collected in most every European country. What you describe perhaps happened 50 years ago.

cesfx said:
European will never be united on the way of thinking. Different cultures and custom, that go a long way back.

Tax cheating is a common practice in Europe.
Most Italian restaurants wouldn't even exist without tax evasion, as the Italian government takes more than 60% (I think it's actually 67%) when you add all taxes and fees. So, most of them have "dark cash" flow.

Some europeans have been hiding cash in Switzerland and setting up companies in Luxembourg and UK to hide cash and pay less % for years.

Then it's probably different in Scandinavia. Each country has its own reality, corruption and ethic.
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Overnight said:
Sorry Vic, but this gave me a chuckle. What is money laundering from a non-criminal activity? So you take a legal activity and turn the money made from it illegal by laundering?
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Large corporations use tax loopholes in one country to funnel profits earned in other countries in an effort to keep their taxes low. Ireland is well known, but so is Luxembourg and the many other non European tax havens. That's what I call non criminal money laundering.
 
VicBee said:
Large corporations use tax loopholes in one country to funnel profits earned in other countries in an effort to keep their taxes low. Ireland is well known, but so is Luxembourg and the many other non European tax havens. That's what I call non criminal money laundering.
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Well, now that England has a true king again after 7 decades of femininity, we can get back to ruling the proper way with these tax-haven loophole brigands. Rise again, British Empire! Whoooop!
 
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M.W. said:
And I don't buy your privacy argument for one second.
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It's not my argument. I was simply stating that the desire for privacy is the reason why people prefer cash over digital. So you're not disagreeing with me. You're disagreeing with the other people who replied to this thread in favor of cash to do private transactions without their being an electronic trail of every single one like there is with credit and debit card transactions... so argue with them, not me.
 
Baron said:
It's not my argument. I was simply stating that the desire for privacy is the reason why people prefer cash over digital. So you're not disagreeing with me. You're disagreeing with the other people who replied to this thread in favor of cash to do private transactions without their being an electronic trail of every single one like there is with credit and debit card transactions... so argue with them, not me.
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Sorry Baron, I cannot help but try to be funny (regarding your edit). My greatest weakness. :-(
 
Strange, that was your main argument in your post which you seemed to put quite some effort in writing.

Baron said:
It's not my argument. I was simply stating that the desire for privacy is the reason why people prefer cash over digital. So you're not disagreeing with me. You're disagreeing with the other people who replied to this thread in favor of cash to do private transactions without their being an electronic trail of every single one like there is with credit and debit card transactions... so argue with them, not me.
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M.W. said:
Nonsense. Corporate tax rate in Italy is 24% plus 3.9% IRAP. And most every penny of due tax is being collected in most every European country. What you describe perhaps happened 50 years ago.
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Nonsense.
Italy doesn't just have corporate tax and irap.
Irpef, ira, tari, tasi, imu... obviously VAT,
Then you pay to play music, to display a menu, to use "air" if you have a balcony... Your rubbish tax is not included in your council/municipal tax, but separate and calculate on mq.
You pay municipal tax (imu) and regional tax...

And let's say you employ someone for 2k net monthly, you have to fork out 3.5k gross. There is no threshold for low income or for low earning enterprise, not even on vat.

In the UK if I employ someone for 2k net per month, gross is approx 2.5k, and I have 9lenty of threshold, income, vat and so on...

Do you run a business in Italy or in Europe? Or was that just out of Google?
 
M.W. said:
Nonsense. Corporate tax rate in Italy is 24% plus 3.9% IRAP. And most every penny of due tax is being collected in most every European country. What you describe perhaps happened 50 years ago.
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"A total tax burden equal to 59.1% of commercial profits, an increase of 6 points, 238 hours required for tax compliance and 14 payments per year. It is the portrait of the taxation imposed on companies in Italy, according to the 'Paying Taxes 2020' report produced by the World Bank and Pwc.."

https://www.ilsole24ore.com/art/fisco-tasse-59percento-profitti-imprese-AC0L5U1
 
VicBee said:
Large corporations use tax loopholes in one country to funnel profits earned in other countries in an effort to keep their taxes low. Ireland is well known, but so is Luxembourg and the many other non European tax havens. That's what I call non criminal money laundering.
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I call it legal tax evasion, which is similar in concept.
There are plenty of legalised criminal activities...
If the government say it's ok, it's legal.

Some countries kill people legally, some other deal drugs, others do prostitutions, other launder money...

https://www.stupidlaws.com/it-is-la...an-in-york-if-he-is-carrying-a-bow-and-arrow/
 
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