/* */

PDA

View Full Version : Banks



truthseeker63
05-11-2011, 11:18 PM
I have heard that the Rich/Wealthy use tax loopholes/offshore bank accounts they have the Lawyers and the Lobbyists my question is how does work do they just move their profits offshore or do they lobby do they have to move their profits to a nation/country where there are low taxes or no taxes or does this even matter ?

Taxation in Islam: Wealth Tax

Thursday, 17 July 2008 14:11


Abdul-Kareem

The following article is based on the book Funds in the Khilafah State which is a translation of Al-Amwal fi Dowlat Al-Khilafah by Abdul-Qadeem Zalloom.

Wealth Tax

In western capitalist countries their taxation penalises the poor and vulnerable in society. Clever accounting and offshore Swiss bank accounts ensure the rich in western societies can avoid paying the majority of taxes altogether. In the UK for example, the Queen is one of the richest people in Britain yet she pays no income tax, whereas a poor single mother or an old age pensioner must pay income tax. With regressive taxes like the sales taxes on goods and services these hurt the poor more than the rich since the tax rates are the same for both.

http://www.khilafah.com/index.php/th...lam-wealth-tax

Reply

Hey there! Looks like you're enjoying the discussion, but you're not signed up for an account.

When you create an account, you can participate in the discussions and share your thoughts. You also get notifications, here and via email, whenever new posts are made. And you can like posts and make new friends.
Sign Up
British Wholesales - Certified Wholesale Linen & Towels | Holiday in the Maldives

IslamicBoard

Experience a richer experience on our mobile app!