“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction

"At the farthest end of the Great Wall, Yang Yongfu limps along the section he arduously restored, in effect 'privatising' it and putting himself on a collision course with the authorities. The farmer spent five million yuan ($800,000) and years of backbreaking work renovating several hundred metres of the national symbol deep in northwestern China, turning it into a tourist site. He set up an entrance area for tourists, complete with a car park and fishpond, and his wife Tao Huiping collects the 25 yuan admittance fee at the ticket booth — a table in the open air. A 2006 law gave the government the exclusive right to manage national relics — making Yang’s project illegal." Continue reading

Continue ReadingChinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction