11:45 p.m.
(m)
😠
This is very sad. They should be sued by the AG's Office. They should lose private assets to pay for the heavy lawsuits, fines and penalties. Directors should face personal liability for criminal activity as limited liability only applies to commercial risk taking activities.
Who are these firms? Dilmah? Dilith's George Steuart? Why are we not naming companies when they do these things?
Cargills, John Keells Holdings, Aprico, MAS Holdings?
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You need serious, honest leaders.
Yeah, I can do it. But so can anyone else. Why is Ranil not taking action?
It's insane.
I will do it, too, to stop them.
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Tax avoidance is a natural thing though. It's not the same as illegal evasion or dodging taxes.
This is why, I am not, and can't be 100% sure on tax strategy. It varies from industry to industry, depending on the strategy.
See, effective rates of tax, it applies to everyone. So, if it is low, it has to be low for everyone. Singapore is 8. Ireland, is I think 12. Effective rate is like very low.
We have a 7% plan, but that's to cater to foreign or export activity.
The effective rate will likely fall because we have only preplanned expenses.
The political leader must be a tough guy to stop evasion with really tough sanctions, litigation and quick resolutions. Such as jail sentencing, serious fines, blacklisting directors, forced nationalization, auctioning of private assets to pay for very big fines, specific performances, etc.
A big problem with SL isn't the politicians. It's the corrupt business people. It's damned good this is happening now at least.
