Comments by "Marvin Fine" (@torontovoice1) on "Countries that Trap You For Taxes" video.

Unfortunately, there are some people in this world that are bent on destruction, and want to harness their population to achieve that goal. The number of Russian soldiers that have defected, sabotage their own equipment, and even shot their own planes out of the sky is growing. If Your soldiers aren't motivated, no amount equipment will help you. Good comment
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I left Canada 11 years ago. And it was very simple and straightforward and still is today. He just checked one box on your tax return that you left the country and the date. You just have to make sure that you sever your ties and follow the rules. They are well set out in the tax code, and you will not have any problems especially if you move to a country where you are a permanent resident or a citizen, and pay tax in that country and even better, if they have a tax treaty with Canada
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Sounds like a good idea. I think a Jamaican passport is a much better travel document than a Canadian passport, not!
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That's absolutely true. That's why Costa Rica started the program especially designed for pensioners, and Panama followed suit. Because pensioners just come to a country and create good. They buy products and services, and they don't work I just add to the GDP of the country. Look what happened to Russia in the last little while. Over 100,000 highly skilled people left the country seeking a better life in the West. You're going to see more of that. It's always the brightest and best that leave, and the s*** always stays!
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Good point. You know you can't provide social services without collecting tax. And you can't build roads without taxing fuel and registrations of cars. So if people want to have social programs and subsidized healthcare, someone has to pay for it. Unfortunately, it's often the people that pay the least amount of taxes use the most amount of social programs. At some point in time people get fed up and look to make a switch especially if they have a business that does not depend on that particular country or alternatively earn passive income
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@sc3639 well that sounds like a good idea. I haven't been in Jamaica for a long time, but I'm sorry I recall last time I was there, it was pretty dangerous.
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@georgeinjapan6583 I can appreciate the fact that nobody wants taxes raised, but there are options in the United States at least for state tax. It's when the federal government goes out and tries to enact confiscatory taxes to appeal to the ultra left gives me rise for concern even though I'm not an American person
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@Mr.Carter777 I don't know what province you're in, or how much money you're making, but the tax is 54% in Ontario. Where'd you get 40% from?
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@gardencity3558 yeah I couldn't agree with you more. I don't think it's a good deal. You look at British Columbia for example there's 14,000 people waiting for back surgery. Some people can't walk. Some have been on the waiting list for 4 years. So what do you do? Go to the US and pay $200,000 for a back surgery operation? Go to Europe pay around 40 or 50,000? Or suffer with pain?
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@latinaalma1947 well done
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Well Democrats don't believe that at all. But they don't understand the difference between capital gains, unrealized capital gains, and earned income and lump them all together, it's very easy to confuse the poor downtroded souls that these Democrats prey on
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@ShaferHart you know anything can change, what people fail to recognize is that these political parties depend on donors. The donors are not on welfare! So while they talk about all these proposals, they're never going to get done because they are suicide for their political well-being. It's just a discussion to appeal to their ultra left base of voters who are so gullible to believe that these proposals may come to pass
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@gardencity3558 I'm not sure how anxious I would be to get an operation in Thailand. It's not only what they do, but there's a perception involved. If you need back surgery, one slip of the knife and you're paralyzed forever. Just like one slip of the knife with open heart surgery and your history. So you really want to go out and choose your location wisely. I just had a huge back surgery, and it wasn't in Thailand let me put it that way.
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Well a little bit of your video was fear mongering, and there's plenty of that to go around. California said they were going to introduce a wealth tax, and Biden just proposed the 20% tax on unrealized gaines. These people often make these statements knowing full well that they're never going to come to fruition. It's more for political posturing to appeal to a ultra left base who they're trying to nurture. But proper planning is nonetheless important. My thoughts are that there is going to be a group of countries, likely the members of the oecd, that will go out and say hey, if you're paying tax in one of these countries, then the rules are different than if you're living in a tax Haven. You already see that for example in Portugal. Under the nhr program, if you own bonds that are domiciled in Cayman Islands for example, there's 35% tax on the coupons and capital gains. However if they're from White listed countries, there is no tax. Canada for example has a test for a non-resident. It wasn't quite as drastic as that shack that you showed a picture of on your video, but clearly even if you have center of Life ties in Canada but your paying tax in another jurisdiction that Canada has a tax treaty with irrespective of your ties to Canada, you're treated as a deemed resident in which case the rules for non-resident supply. But there doesn't seem to be any standard rules on what constitutes a resident and what doesn't. For example Germany can make you a tax resident by simply living there 90 days for two consecutive years. A few days ago I attended a seminar hosted by the financial ministry of Cyprus. They are trying desperately to widen their economy from a tourist based economy to a little of everything else. They have introduced some new tax incentives especially geared for financial funds to set up their domicile in Cyprus. The tax is only 2.9%. the presenter or opined that you can have your head office in Europe in a white listed country and pay only 2.9%. they're also proposing various tax benefits for startups to come to the country. They're trying to nurture a startup ecosystem. One of their proposals was that you are able to bring in all your people into Cyprus, and as long as they're earning 2500 Euros a month, they will give them residency in Cyprus. That seems to take a page out of the book of Dubai and other countries that offer similar incentives. But Cyprus is a democracy unlike Dubai which is a dictatorship. The other day I saw a video of the airport in Dubai produced by national geographic. I was shocked to learn that they have the death penalty for importing drugs into the country. I wonder what kind of due process of law there is in Dubai?
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