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[return to "The U.K. closed a tax loophole for the global rich, now they're fleeing"]
1. bashto+T2[view] [source] 2025-07-19 22:52:15
>>fortra+(OP)
The British government closed this loophole because it's politically easier than the strategy which is actually needed: properly taxing assets.

This is much harder to evade - if you own most of Mayfair, you can't just move your assets elsewhere - they are very clearly tied to the location.

Of course, this would mean taxing powerful aristocrats, including the royal family. With their large majority, the British government had the opportunity to do this, but decided to take an easier path. The reason why this path was easier is now becoming clear to them.

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2. aosaig+L4[view] [source] 2025-07-19 23:07:14
>>bashto+T2
Genuine question as I’ve been interested in the conversation around taxing wealth: how do we do it?

I assume a new government dept. has to be set up to oversee it. Or do the wealthy self assess? Are things like shares and investments valued once? Once per year? How is a company valued? How do you know if you qualify as wealthy? Do we value everyone’s wealth? Can’t the wealthy just relocate or move assets out of reach?

I don’t expect answers to this, I’m just thinking out loud as there seem to be a lot of challenges.

A few countries seem to have tried and continued to tax wealth but it seems far from proven and only seems to “work” in Switzerland, which is a bit of an outlier

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3. ozim+xJ[view] [source] 2025-07-20 07:45:14
>>aosaig+L4
I think The Netherlands has it running quite OK.

You don’t need new govt. dept. tax authority is enough. You do your yearly tax statement.

In NL they have access to your bank accounts or more like banks and brokers are obliged to provide state of accounts as per 1st of January.

Downside is you pay wealth tax on „possible gains” not actual gains on wealth above 40k€. If you have mortgage it of course is deducted from value of your house or any debts that you have documented.

In case you think collecting watches can make you hide the wealth, there are of course tax authority checks most likely if your wealth suddenly changes.

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4. tremon+Rh3[view] [source] 2025-07-21 07:36:00
>>ozim+xJ
The Netherlands is an accountant's wet dream. Everyone with assets here has a personal double-layered corporate structure where the assets are held by the one company, but they're nominally employed by the second one. Even cars for every-day use can be business-owned and then leased back to yourself. And the corporate tax rate is nowhere near the personal wealth tax, people here don't even bother with registering their assets in foreign holdings.
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