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davidw
on Feb 9, 2011
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UBS Whistleblower Finds Himself in Federal Prison
"Hypothetically", in Italy, lots of cash transactions with no receipts happen because of the VAT, which is something like a sales tax.
rbanffy
on Feb 9, 2011
[–]
Brazil tried to move this into the banking system - all withdrawals were taxed. It was not very popular, but it was effective and devilishly hard to dodge.
OTOH, companies routinely exchange services and that kind of transaction is very hard to tax.
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