How & Why the EU Can Confiscate Your Wealth If You Can’t Explain It
- Thread starter Kim-OTC
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UK Introduced laws for Crypto overseas recently.
I imagine there's existing provisions for tangible assets already.
This is the issue the IRS had with partnerships and to a lesser degree LLC's.
They've now set about full auditing / investigations using IRS CLI (was in the news yesterday).
Previously individuals would have them running around in circles 6+︀ layers thick and still not finding a benefiter/owner.
Depends, lot of countries get contacted︂ under MLAT and see an opportunity as soon as tax evasion is mentioned as they︃ see it as a potential seizure and re-sell opportunity, i.e in Thailand for example, it︄ happened to a Dutch guy when the Dutch tax revenue department made an enquiry about︅ a shortfall in tax, a purely civil matter, anyway the Thai's went to town, and︆ slapped on money laundering charges, sentenced him to 100 yrs in prison (he was released︇ a few years later to the Dutch who promptly released him) but his assets were︈ 'seized and sold' and the police get a cut usually 15%... similar happens outside of︉ the West (officers get a cut) inside the West funds go to the police (USA︊ etc) so theres a incentive for UWO's, and Civil Forfeiture.
Hence important to renounce western︋ citizenship and become a citizen of a friendlier nation whilst on route but before you've︌ made any sizeable amount.
Dutch case: Dutchman jailed for 103 years for laundering drug money︍
Release: Dutchman Johan Van Laarhoven just freed from prison after serving 6 out a 100-year︎ sentence under treaty - Thai Examiner
Dutch Authorities paid him 20m Euro for the pleasure️ of their f**k up.
IMDB -> Film of sorts Cannabis (TV Series 2020) ⭐ 8.6 | Documentary
Blog: Johan van Laarhoven Archives
I imagine there's existing provisions for tangible assets already.
This is the issue the IRS had with partnerships and to a lesser degree LLC's.
They've now set about full auditing / investigations using IRS CLI (was in the news yesterday).
Previously individuals would have them running around in circles 6+︀ layers thick and still not finding a benefiter/owner.
Depends, lot of countries get contacted︂ under MLAT and see an opportunity as soon as tax evasion is mentioned as they︃ see it as a potential seizure and re-sell opportunity, i.e in Thailand for example, it︄ happened to a Dutch guy when the Dutch tax revenue department made an enquiry about︅ a shortfall in tax, a purely civil matter, anyway the Thai's went to town, and︆ slapped on money laundering charges, sentenced him to 100 yrs in prison (he was released︇ a few years later to the Dutch who promptly released him) but his assets were︈ 'seized and sold' and the police get a cut usually 15%... similar happens outside of︉ the West (officers get a cut) inside the West funds go to the police (USA︊ etc) so theres a incentive for UWO's, and Civil Forfeiture.
Hence important to renounce western︋ citizenship and become a citizen of a friendlier nation whilst on route but before you've︌ made any sizeable amount.
Dutch case: Dutchman jailed for 103 years for laundering drug money︍
Release: Dutchman Johan Van Laarhoven just freed from prison after serving 6 out a 100-year︎ sentence under treaty - Thai Examiner
Dutch Authorities paid him 20m Euro for the pleasure️ of their f**k up.
IMDB -> Film of sorts Cannabis (TV Series 2020) ⭐ 8.6 | Documentary
Blog: Johan van Laarhoven Archives
You want a passport from a CIB (Carib) / Pacific that gives you access to the West and East, whilst residing in︀ some emerging economy with a broken infrastructure, and just wait out the economic/societal collapse of︁ the West or East (which ever one fails to win).
And then move back to︂ the West after all the digital infrastructure is gone and it returns to normalcy, with︃ protections against surveillance reinforced like after WW2 where they realised the dangers of 'lists's. etc︄
And then move back to︂ the West after all the digital infrastructure is gone and it returns to normalcy, with︃ protections against surveillance reinforced like after WW2 where they realised the dangers of 'lists's. etc︄
I think what you're suggesting is a bit of "doomsaying." There's nothing to indicate a total breakdown of the digital age; on the contrary, the risk is that drones will take over battlefields and humans will become prey if AI finds its way into drones and gains the authority to destroy what it perceives as the enemy.
But otherwise, I join in asking, when do︀ you think what you predict will happen?
But otherwise, I join in asking, when do︀ you think what you predict will happen?
Who knows? That’s the flat tax, so it’s not bad under many aspects, even though I have no real reason to pay taxes in Italy. I guess I will continue until the prosecutors relocate to a different city. Meanwhile €600k have already gone 🙁
ok so UK can now seize crypto assets︋ wonder how they plan to do this?
So basically if you are based in Europe︌ they can seize your stuff because you are suspicious to them… but if you move︍ to a shithole and then Europe ask authorities about your assets there you can get︎ seized and go to jail?
Doesn’t feel like you can win anywhere based on this.️
What if you are not a first world country citizen but a resident or you were in the past? Can they still go after you offshore or this is less likely to happen?
So basically if you are based in Europe︌ they can seize your stuff because you are suspicious to them… but if you move︍ to a shithole and then Europe ask authorities about your assets there you can get︎ seized and go to jail?
Doesn’t feel like you can win anywhere based on this.️
What if you are not a first world country citizen but a resident or you were in the past? Can they still go after you offshore or this is less likely to happen?
The likeliness of being chased depends on your profile and how big of a︁ fish you are to them. Some countries are more difficult than others with regards to︂ their citizens (and sometimes residents).
Don't flaunt your wealth (no lambos and all that other︃ bs when you didnt properly declare) and report what needs to be reported. Have a︄ solid accountant and lawyer under retainer. Be as grey as you can be. Social media︅ is currently one of the nicest tools for tax authorities to build their case. And︆ yes that started decades ago already on bulletin boards or dedicated forums.
Don't flaunt your wealth (no lambos and all that other︃ bs when you didnt properly declare) and report what needs to be reported. Have a︄ solid accountant and lawyer under retainer. Be as grey as you can be. Social media︅ is currently one of the nicest tools for tax authorities to build their case. And︆ yes that started decades ago already on bulletin boards or dedicated forums.
The EU have new rule for take money if you cannot explain where it come from, even no crime is proved.
But some peoples are worry this is too much power and not good for protecting private rights.
Is this way good to stop bad guys, or is it making problem for freedom and fair justice?
But some peoples are worry this is too much power and not good for protecting private rights.
Is this way good to stop bad guys, or is it making problem for freedom and fair justice?
It is very weird. Serbia also got a new law where they can take 75% of the assets you cannot prove where they come from. So far, only been used in combination when someone got a criminal charge against him, but still very scary︀ what this might bring
What if someone can't prove the source of the very first part of their wealth?
Let's say it's 2024, you are worth $50m (nice and clean SoF) but back in 2016 you did some shady stuff and managed to get your hands on your very first 100k...
Are you going to lose all your assets regardless or can you limit the damage to just that first 100k + fees?
Let's say it's 2024, you are worth $50m (nice and clean SoF) but back in 2016 you did some shady stuff and managed to get your hands on your very first 100k...
Are you going to lose all your assets regardless or can you limit the damage to just that first 100k + fees?
In most European countries the tax law allows the gov to go back for 10 years when it concerns multiple jurisdictions.
Re your concept;
It depends a bit on how the 100k is categorised. If it is seen as proceeds from illegal activities than everything is︀ at stake. If it is merely seen as not correctly filed then you owe the︁ taxes over the 100k + a penalty which in some jurisdictions now can be 300%.︂
If you then didnt file correct taxes in the last 10 years, then you are︃ at the mercy of the authorities. The moment you receive a letter to explain bits︄ and pieces, its the day where you will need a shark fiscal lawyer to salvage︅ what can be salvaged.
Re your concept;
It depends a bit on how the 100k is categorised. If it is seen as proceeds from illegal activities than everything is︀ at stake. If it is merely seen as not correctly filed then you owe the︁ taxes over the 100k + a penalty which in some jurisdictions now can be 300%.︂
If you then didnt file correct taxes in the last 10 years, then you are︃ at the mercy of the authorities. The moment you receive a letter to explain bits︄ and pieces, its the day where you will need a shark fiscal lawyer to salvage︅ what can be salvaged.
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