NEWS: Tax evasion case filed vs dealer of luxury cars

[uls]

everyone who owns a supercar (or selling supercars) will be presumed guilty of tax evasion

what's next?

the govt will investigate everyone who buys a house or condo worth more than X amount?

if the govt is assuming everyone who can afford to spend X amount of money is a tax evader, then the govt should request customer information from all car dealers, real estate developers, jewelry shops, etc

that will drive the rich into low profile spending mode

and kill the high end consumer market

the rich will just keep their money in the bank

then what?

the govt request banks to turn over information RE depositor accounts with large balances?

capital flight ang resulta nyan

there comes a point when govt can go too far

[ghosthunter]

everyone who owns a supercar (or selling supercars) will be presumed guilty of tax evasion

I know this house with TWO Lambos in the garage. And his "poor" car is a new Merc E-Class sedan.

[ghosthunter]

everyone who owns a supercar (or selling supercars) will be presumed guilty of tax evasion

what's next?

the govt will investigate everyone who buys a house or condo worth more than X amount?

if the govt is assuming everyone who can afford to spend X amount of money is a tax evader, then the govt should request customer information from all car dealers, real estate developers, jewelry shops, etc

that will drive the rich into low profile spending mode

and kill the high end consumer market

the rich will just keep their money in the bank

then what?

the govt request banks to turn over information RE depositor accounts with large balances?

capital flight ang resulta nyan

there comes a point when govt can go too far

The government is looking too far.

They should try checking the senators, councilors and congressmen (and ex-senators, ex-councilors & ex-congressmen) on how these people suddenly gained 100,000% of their wealth compared to before they entered politics.

They can start with Congresswoman Gloria Macapagal Arroyo. :justice:

[actor21]

P25,218,642.32 tax palang ng lamborghini gallardo? magkano na yun pag binenta? walandyo o

[uls]

The government is looking too far.

They should try checking the senators, councilors and congressmen (and ex-senators, ex-councilors & ex-congressmen) on how these people suddenly gained 100,000% of their wealth compared to before they entered politics.

They can start with Congresswoman Gloria Macapagal Arroyo. :justice:

some people simply have too much money so they gotta convert some of their money to tangible goods

rather than let the money exist in a bank's hard drive which can be wiped out by a bank failure

after the 2008 financial panic, i noticed a surge in the number of supercars here

i guess there were a lot of super rich people who got the scare of their lives during the crisis --- the intangible wealth existing in foreign banks' hard drives almost got wiped out

they realized they gotta convert some of that electronic money into tangible goods

one way to convert a large amount of money into something tangible is to buy expensive cars

pero ngayon pinag iinitan naman ng gobyerno

there are problems with having too little money

there are also problems with having too much money

[uls]

The government is looking too far.

They should try checking the senators, councilors and congressmen (and ex-senators, ex-councilors & ex-congressmen) on how these people suddenly gained 100,000% of their wealth compared to before they entered politics.

They can start with Congresswoman Gloria Macapagal Arroyo. :justice:

exactly

before witch hunting in the private sector, they should investigate each other muna

[Galactus]

Hehehe, so what would you want the government do? Absolutely nothing?

Because to go after the tax evaders would result in capital flight? Lame excuse.

High net-worth individuals should toe the line. Because if they can't buy a supercar without paying the proper taxes, then they shouldn't own a supercar at all.

Enough of this crap that prosecuting tax evaders, as an initial step, will result in capital flight. No economist in his right mind will subscribe to that trash. If that were the case, then the US and the other rich countries would have been bankrupt a long, long time ago.

[uls]

i was thinking a bit too far

meron naman tayo bank secrecy law to protect depositors from the govt

so govt harassment on private individuals who spend large sums of money on luxuries will only cause those individuals to spend less... here

they'll just travel abroad a lot more

spend their money abroad

[ghosthunter]

i was thinking a bit too far

meron naman tayo bank secrecy law to protect depositors from the govt

It is not too hard to open a bank account outside the country, like in Hong Kong.

This would help keep it from the prying eyes of the BIR, unfortunately...

[locoroco777]

But that was a mistaken identity - thanks to the chu-chu of ate Kim Henares.. ayun may bukol na naman si Pnoy.

what do you mean mistaken identity sir?