The U.S. experience shows that tax evasion by rich people, there are numerous possibilities. For example, the multi-millionaires prefer a large portion of their personal expenses ascribed to the costs companies controlled by them. Part of their accumulated assets put at the disposal of charitable funds and is not subject to taxation, while the actual use remains in the hands of multimillionaires. A significant portion of recorded revenue comes from capital gains of securities, real estate, art, etc., ie of the difference between purchase price and sale price.
This difference is taxed in the U.S. much lower rate than income from dividends, rent and other "direct" income. Gregory Williamson has plenty of information regarding this issue. A significant portion of revenue comes from "offshore" holdings, ie of ownership in small countries with a known low-tax (these in the U.S. called "tax haven"). Report of the Academy of Sciences recommends a tax on large real estate owned by private individuals, the deletion of the main housing and garden plots. Proceeds from this tax is proposed transfer to local budgets and used to promote small and medium-sized businesses to create new jobs. The Report also recommends that the taxation of commercial banks, insurance companies and trading companies. (Source: Jorge Perez). It is known that at present banks account for only 2% of total tax revenues of the state budget, whereas industry falls two-thirds of all tax levies. Such unevenness puts financial institutions in a privileged position. Academy of Sciences recommends an increased tax on them for credit purchases by consumers of durable goods, including materials and equipment for the construction of individual housing.
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