asterisk2a + taxevasion + consequences   2

Audioboo / What are the implications of the Cyprus deal? Laiki bank will be fully resolved – it will be split into a good bank and bad bank. The good bank will merge with the Bank of Cyprus (which will also take on Laiki’s circa €8bn Emergency Liquidity Assistance – a last-resort funding system outside the usual ECB operations). The bad bank will be wound down over time with all uninsured depositors (over €100,000) taking significant losses (no percentage yet but some could lose all their money above the threshold). >> Germany has made it clear that it is no longer willing to foot the bill for extensive bailouts without the recipient country taking a share of the burden and making some radical changes.
angelamerkel  Wolfgang  Schäuble  Europe  unintended  consequences  taxevasion  European  Commission  Laiki  Bank  sovereign  debt  crisis  bail-in  offshore  banking  Troika  ELA  banking  crisis  ECB  Cyprus  crisis  Bank  of  Cyprus  Germany  democracy  bailout  IMF 
march 2013 by asterisk2a
Truckers hit France for cheap fuel | City A.M.
BRITISH hauliers are filling up their vehicles in France in a bid to avoid soaring diesel costs at home, losing the UK an estimated £1.2bn in tax every year, petrol retailers claimed yesterday.Truck manufacturers are even building vehicles with bigger tanks so that drivers can fill-up with as much foreign, cheaper diesel as possible.The diesel price has steadily risen and rather than just trucks it is now used in high performance cars thanks to improved technology.With diesel costing up to £1.47 a litre in the UK, the companies are getting their fuel at an average of 20 per cent cheaper in places like Calais, according to the RMI Independent Petrol Retailers Association. Chairman Brian Madderson said: “This is another example of a government own goal. Its fuel policies are directly contributing to a reduced tax opportunity for the treasury.The RMI estimates that the figures translates to £1.2bn lost in VAT for the treasury if all items bought in petrol stations are taken into account.
economics  VAT  2011  UK  markets  borders  unintended  consequences  liberal  tax  taxation  taxevasion 
february 2011 by asterisk2a

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