OAG NEPAL

Everybody, at some time in their working lives, comes across a “tax dodge”. These things are usually set up by scam artists and sold to the public as the “smart” way to avoid taxation. They’re the exact opposite. They’re usually misleading in terms of their tax benefits, may put people in breach of tax laws, and can wind up costing a lot of money. If you want your taxation done properly and legally, use real tax accountants. Don’t go anywhere near anything called a tax dodge.

Tax dodges- Typical instances

The other thing to look out for is the fact that many of these “clever” people are themselves fakes. Some people never even find out the real names of the people they’re dealing with. These individuals typically invest other people’s money in their own companies or schemes operated by their associates. Then, mysteriously, these Get Rich Quick mirages fail, and people lose their money. The actual cash, meanwhile, is usually siphoned off by the operators.

Alternatively, the operators simply disappear with the money. People are fleeced on an almost daily basis by these scams. Even professional business people routinely get taken to the cleaners. Many victims are actually sent bankrupt. The tax dodges are a very nasty, very deadly form of fraud.

The truth about tax dodges

To start with, there’s no such thing as a “tax dodge”. Never has been, never will be.

These are the facts:

• A financial arrangement is either legal or not, depending on taxation law, and there are absolutely no grey areas.

• Any investment scheme is also covered by taxation law, and a single phone call to the taxation office can tell you whether there are any taxation benefits or not.

• Some classes of investment defined by tax laws provide taxation concessions. Describing these things as a tax dodge, and charging money for the “benefits” of tax breaks to which investors are entitled is a scam, pure and simple.

You and taxation- Why you need professional tax accountants.

What most people don’t realize about taxation is that you can legally claim a lot of perfectly legitimate tax concessions. You can literally deduct the shirt off your back, if it’s covered by tax laws. The trouble is that many people have complex income sources and are usually far less than well informed about their taxation rights.

Modern taxation can sometimes be complex, but you’ll get more value out of simple business accounting software in terms of protecting your rights than you will out of tax dodges. Your software, like your tax accountant, is designed to do the job properly, unlike the scam artists peddling ridiculous tax dodges.

One of the biggest single benefits to come out of digital technology is the fact that every single tax issue related to your tax return can be identified and addressed very quickly and efficiently. Your tax accountant can find you deductions for things you may never have even heard of, and they’re all legal. Your tax accountant’s fees are also deductible.

Just one more thing about the tax dodge scam artists- They always get caught. There’s nothing really “clever” about them.