[engedi05]

(Talknet1 @ Mar 13 2010, 12:38 PM) *
There are legitimate opportunities in HYIP industry such as Genius funds and Panamoney.

If the government wants a share of HYIP profits they declare HYIP with real business as legal and tax them. They will earn tax revenue from HYIP industry.

From MMG member : arythma in reply to the post of Talknet quoted above:

This is a very interesting concept except in the case of GF, the fund is earning income in other countries.
If a Brit owned an American Hedge fund the only taxes due would be the personal income which
should be reported. Can the UK tax funds from other countries just because they are sold in the UK.
Its a very interesting question. I've heard and this is only hearsay that income earned on the
Internet is either not taxed or taxed as a capital gain. But the actual fund is only taxed if they
are based in a certain country. I think the reason GF is in Cyprus is mainly for government
laws that are less restrictive than in other countries. Maybe an accountant can answer this.
I would like to know more about how Panamoney handled this problem as they are bigger
and stronger than before and the hearings had no affect on them. I would think if your
earning significant income and your government says you cannot, then maybe you move
to Panama or Cyprus where you have freedom of investment. The world is drastically
changing because of the Internet. It almost doesn't mean anything where you are anymore
as the Internet is tying the whole world together. The US has now proposed before
Congress to build a new high speed and very powerful new Internet communications
system to become the main method of communications in the US. Are they going to
spend all this money to build a system that you cannot use freely for business and
personal communications?? I think not. The Internet will free the entire world.
arythma