Should Israeli citizens be allowed to save or invest their money in offshore bank accounts?
An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The…
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Deleted3yrs3Y
Yes, but eliminate all loopholes associated with offshore accounts and mandate the reporting of offshore income to prevent abuse and tax evasion. Also, hold political officials more accountable for their own immoral actions.
@78S5M874yrs4Y
as long as offshore income is reported
Deleted3yrs3Y
Yes, but eliminate all tax loopholes associated with offshore accounts and mandate the reporting of offshore income to prevent abuse and tax evasion. Also, hold political officials more accountable for their own immoral actions.
Deleted3yrs3Y
Yes, but close all loopholes for both citizens and corporations associated with offshore accounts, and mandate the reporting of offshore income to prevent abuse and tax evasion.
@8WNZXJ43yrs3Y
Only allow those within a certain range of money utilize the offshore bank accounts. Those who have abused it don't deserve them, but that shouldn't take them away from everyone unless there is too much corruption in it.
@8KX67Q94yrs4Y
Yes, we should allow citizens to handle their investments however and wherever they want, but the offshore income should be reported and taxed.
@92YHQCV3yrs3Y
No, and neither should corporations and business organizations because too many wealthy citizens are abusing loopholes in offshore banking laws to evade taxes
@8H4DF7B4yrs4Y
Yes if the income is reported and loopholes are eliminated.
@IINXMP4yrs4Y
Yes, as long as tax dollars are still paid.
@DsInferno4yrs4Y
Yes, but because the wealthy will always find loopholes in the system increase tax audits for people in the highest tax bracket
@6ZS8SV44yrs4Y
No, unless they also hold citizenship in said country.
@7KCBJ6J4yrs4Y
No, both wealthy citizens and corporations are abusing loopholes to evade taxes.
@7W3SBDC4yrs4Y
Yes, but strict laws and stiff penalties for failure to report.
@8F3TJ7L4yrs4Y
Yes, and that income should be taxed at the difference between the country's rate and the U.S. rate, encouraging U.S. citizens to just keep the money here because it won't decrease tax burden.
@8GR8N5C4yrs4Y
I feel that I do not have enough information to agree or disagree
@buday4vancouver4yrs4Y
Only in freer part of the world. Not communist or fascist states.
@8PD23XN3yrs3Y
Yes, but they should have to declare it and pay a fee on all offshore money
@8PJHVJN4yrs4Y
Yes, as long as it is reported but I will tax you by 7.5% more.
@8PZ7LSP4yrs4Y
Yes, as long as offshore income is reported, though remove all loopholes to stop abuse of this
@8RB2K9D4yrs4Y
Yes, but ban the wealthy and corporations from doing so
@8RDZZDL4yrs4Y
Yes, as long as offshore income is reported and there are laws passed to stop offshore tax loopholes
@8RB2K9D3yrs3Y
Yes, as long as offshore income is reported, and as long as they are under a certain income
@8TF44GJ3yrs3Y
Yes, as long as offshore income is reported, and close loopholes in off-shore banking laws
@lucasnat0r3yrs3Y
Yes but they should be incentivized to invest in the country they live in.
@8YJ6ZGY3yrs3Y
Yes if they are a citizen of that country
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