Legal Bombshell: New Global Tax Law Takes Effect On Saturday

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London, England (Accredited Times) – One of the major problems progressives have faced in recent years is that people simply don’t pay their taxes.  Progressives pass laws redistributing income, but people simply don’t cooperate.  The worst problems have arisen in Africa, Asia, Latin America, and Eastern Europe — where progressive social programs are needed the most.  Sadly, because many taxpayers refuse to pay taxes in these regions, their governments often spiral into massive debt problems, resulting in currency inflation and child hunger.  Women and minorities are traditionally hardest hit.

But now progressives have a new critical tool in their belt:  a British law called the Criminal Finances Act.  Under the Criminal Finances Act, the U.K. government can prosecute any organization anywhere around the world for “failure to prevent” both U.K. and “foreign tax evasion.”  The law explicitly has “extra-territorial application and jurisdiction,” specifying that it is “immaterial” whether “any relevant conduct” “takes place in the United Kingdom or elsewhere.”

In other words, if an organization, like a bank, has any indication that someone might be evading taxes in RussiaNorth KoreaArgentina, Guinea, or Venezuela, yet fails to stop it, then that organization would face criminal liability.  The organization does not have to be based in the United Kingdom; the law applies where an organization conducts any business at all in the United Kingdom or where any part of the conduct has anything to do with the United Kingdom.  Given London’s role as a major financial center, the law is shockingly broad in scope.

Conservative Prime Minister Theresa May pushed strongly for the law, which received Royal Assent on April 27, 2017.  The law repeals the long-standing common law rule against using domestic courts to enforce foreign tax laws.  The law takes effect on Saturday.

Bankers, Accountants, And Lawyers Are Now Legally Required To Spy On Customers

Major institutions affected include banks, law firms, accounting firms, and other similar professional organizations, which are now legally required to spy on their customers to stop tax evasion.  Under guidance issued by the U.K. government, “failure to prevent” foreign tax evasion would include:

  • Providing introductions or acting as a broker for someone who ends up evading foreign taxes;
  • Providing investment planning advice or advice on organizational structures, which are then used to evade foreign taxes;
  • Setting up organizational structures, which are then used to evade foreign taxes;
  • Maintaining infrastructure services that are used to evade foreign taxes (including “nominee services,” “legal services,” “IT structures,” “virtual offices,” or “company director services”);
  • Providing financial assistance for those who evade foreign taxes (including “currency conversions,” “providing client accounts and escrow services” and “moving money through financial instruments”); and
  • Providing payroll services for those who evade foreign taxes.

Given the broad scope of the law, organizations are effectively guilty if they have anything to do with someone who ends up evading foreign taxes.  At that point, the only way for an organization to save itself would essentially be to take advantage of the law’s affirmative defense — which allows an organization to escape criminal liability if it has sufficient “prevention procedures” in place.  In effect, organizations must establish robust monitoring networks to stop any suspicious activity.

Bitcoin And Gold On The Ropes?

Although the law does not directly address cryptopcurrencies, Bitcoin and other cryptocurrencies will likely face significant challenges under the law.  After all, why would anyone use a cryptocurrency except for nefarious purposes, like tax evasion?  Financial institutions may feel pressure, sooner or later, to implement procedures requiring full disclosure and monitoring of anyone who uses Bitcoin.  Failure to do so could result in criminal liability.

Gold faces similar issues.  After all, gold, which cannot be eaten, is primarily hoarded for tax evasion purposes.  Financial institutions will likely feel significant pressure to monitor gold-related transactions for similar reasons.

The Criminal Finances Act Is A Huge Win For Progressives

Overall, the Criminal Finances Act is a huge win for progressives.  The law should result in more taxes and greater control over financial transactions.  The internationalization of law is now proceeding at an amazing pace.  The best part about it is that that orange bastard Donald Trump and his gun-toting, Bible-thumping friends can’t do a damn thing about it.  Global governance works.

Theresa May is doing a surprisingly good job as Prime Minister.  Recently, May smacked around Brexit chumps like the bitches they are — affirming that she has no plans to remove Britain from the European Union until at least 2021, by which time the Labour Party will likely be in power and will likely call for another Brexit vote (or substantially water down any so-called “Brexit”).  Now May has made Britain the tax enforcer for countries like Argentina, which has 137.3% total tax rates and which continues to claim Las Islas Malvinas for itself.

May is exactly the kind of conservative leader that we need.  We can only hope that a real conservative like Jeb Bush or Lindsey Graham challenges Donald Trump in the 2020 election in the United States.  Mainstream politicians need to unite in favor of global legislation like the Criminal Finances Act.

hungrypirana
hungrypirana

I propose we increase welfare by 15% and tax the poor at 20%. This will give the poor the satisfaction of paying their own way and contribute to patriotism.

#tricknology

Pbier

How much is Putin paying you to put out this shit?

MillionDollarBonus

Wow this act is so progressive! It’s a truly revolutionary way of implementing global governance, and how fitting that it should originate in the UK, where they at least have a progressive conservative prime minister. If it wasn’t for Trump, maybe this law would have been enacted by the US.

It’s so awesome that almost everything is going to be monitored by law now. I’m sick of rich people profiting and not paying their fair share to governments, who are sure to use the money wisely for the good of all. But even if governments don’t use it wisely, I still support taxing the rich to death because I feel inadequate and I want to tare these bourgeoisie PIGS down to my level!

trav777

The US has FATCA already.

Governments must have their global reach expanded, after all, we are ALL world citizens. Every government should tax everybody everywhere.

MillionDollarBonus

We should just merge all countries together. That way everybody would go where white people are, and white people would have to put up with it or die.

vacamuerta
vacamuerta

Quiet obviously there must be an exception to national mergers, our best and most reliable ally must be preserved as a special haven for those fleeing the age old persecution of bigots and racial supremacists. Their country has been ‘merging’ with its neighbours since its creation, perhaps one day it will have ‘merged’, (in its own way), with all the lands from the banks of the Nile to the Brook of the Euphrates.

Of course, anyone should still be allowed in to that national homeland- providing they pass the rather specific genetic and religious screening criteria.

For those that fail there is plenty of space in regions -such as that formally known as Sweden-, where they should go and can demand the right to live dignified lives. Nigeria’s population (for example) will increase eight fold by the end of the century; where better for them to go to solve global inequality?.

Our best allies, who have been the recipients of so much unjustified hate and discrimination for thousands of years, are amongst the loudest demanding that European majority states fulfil their humanitarian duty, as a form of reparations for imperialism by whites in this post holocaust century.

Under a progressive world government the much needed merging and dissolution of borders will happen quite naturally as national historical and cultural differences become irrelevant and forgotten by their new, rapidly growing populations of world citizens.

Sorry for the long post, but it is hard not to be optimistic!.

MillionDollarBonus

Wow you’re so right vacamuerta thanks for mentioning that! Our greatest, best and most valued ally in the whole world, Israel, should definitely be exempt from globalism. They are surrounded by people who hate them. So are white people, but we deserve it and shouldn’t defend ourselves for fear of being racist.

MillionDollarBonus

#fact-check
MDB |
Trump’s tax plan is the greatest transfer from the poor to the rich in history |
true |
There is a complete consensus among top economists and political analysts that Trump’s tax plan will punish the poor and benefit the rich like no other plan in history.

Stick Your Proof In My Pudding
Stick Your Proof In My Pudding

BLM

Have you seen DIRECTV’s new commercial? You would be proud.

https://m.youtube.com/watch?v=0RpmwqaxrwA

Can we get an article about how the only growing segment of the pay TV market appears to be the black population. Which is exactly why the TV media bombards us with black inequality messages. From ESPN to the news networks, especially CNN, going giddy whenever the police shoot a black person.

Networks are battling for the black viewer and have all but given up on trying to grow white viewership as the whites can’t cut the cord fast enough.

This is all at the expense of expanding a racial divide in the USA so the networks can salvage their ratings and keep providers afloat.

drb6
drb6

What has happened here while I was incarcerated for my support of communism and progressives? Whats’ up with ponies next to Anon, rainbow colors of letters, photos of Anon (I wish I had never seen those)?

Vladmir Putin
Vladmir Putin

I think this article is misleading, and might scare foreign leaders who loot their country and want to settle down in London.
If I want to move to London with my 200 billion dollars of wealth, then it doesn’t matter if I avoided paying taxes in Russia. UK will give me a red carpet welcome.

Pbier

I don’t remember Jesus saying hateful things about ‘low IQ Blacks ‘ Do you have a bible passage you could share, brony boy?

Pbier

Sounds like hateful prejudice to me. I don’t think Jesus would be happy with you on this occasion.

Pbier

Ok, so you are not a Christian. Fine, but stop pretending that you are!

Vladmir Putin
Vladmir Putin

It is amusing for a foreign guy to be stopped on the street in a city, by some bright eyed kids from the bible belt; “Do you want to be saved? Do you want to know about the one and only true God who can save your soul?”

People have interpreted things literally. No, you don’t get to go to Heaven, and be seated on the right side of God, if you convert people to follow Jesus. And God doesn’t help you, like your friend, with money or by doing your chores.

By talking about God, you (the microcosm) get to understand and align yourself with the cosmos(macrocosm, God).
Upon the cross , the Christ , the cosmic man, is crucified.
By reconciling it’s polarities through his own consciousness,
he attains unity.
– John Anthony West, on the Christian Cross in Serpent in the Sky.
This significance of the cross, as unifying the polarities through consciousness, probably got corrupted, into immense suffering for salvation by Jesus.
Cultures under stress, sometimes found a guy who took upon him, the suffering of society by ritual flagellation (mostly without drawing blood). This was supposed to relieve the society of any curse. Or sometimes, a person simply takes the blame, and is just verbally thrashed for bringing misfortune. These were for psychological/emotional/spiritual relief, and when the bad situation passed, the guy who took the blame became a hero.

drb6
drb6

As a side note, the players should be naked or as a minimum topless – then I would watch female football. I am also flagging my post as “sexist” in shame!!!

#sexist

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