And of course the difference is the money that he had to spend on tax.

Please pay the tax.

You're left with 500,000 of pre tax income.

Because the money he spends is the money that pays everything else.

Taxfree.

And I normally have to pay 30 .

A basic income points in the same direction.

Well I'll save 30 of this.

The IRS might consider that to be income

Did you make regular payments from banking section?

In general, there are three types of taxes value added tax (VAT)

Whoever spends 3000 Euros will be taxed for 17 of the total amount.

So I'm not getting interest there.

Ten grand a month.

Once you subtract that out, then you actually have your pre tax income, and if we assume that we have to pay taxes, this is how much we pay in taxes, and this is actually the net income that goes to the owners of the company.

And the reason they didn't grow by that amount is because we actually ended up having to pay taxes on some of that.

The taxes names have my uncles in seizure... the castle had be sold.

Please pay the tax on the items over there.

And you could guess what the next line is going to be, given that this says pre tax.

That's a lot.

So actually, let me do that.

A 10 tax will be withheld from the payment to you.

And so his pre tax income is now 30 plus 2 minus 5 is 27,000.

The total amount including tax is 1500 per person... ...estimate included.

Did you pay the taxes?

And you say, this group of the CDOs, they'll get the first payments. or if any payments that go, immediately go to this very senior tranche, right?

From this point onwards there will be a progression.

It's 255 plus tax.

I've got to pay taxes now?

Then you can see radical partisan change.

Because tax exemption is usually seen as the social component of the tax system.

One of the places we put in a big oil project in Chad, with Exxon.

Because some of them have paid, and some of them are still paying.

Whoever pays 2000 Euros will have contributed 1000 Euros in taxes.

Payment

Pay up

The government makes us pay tax.

Do you have anything to declare?

A new tax has been imposed on cigarettes.

Remember that famous phrase,

And then, let's just say they're in the Caribbean and they don't have to pay taxes.

I have to pay the electricity bill. Can I leave this here?

I bought that one for 600. I'll use it for 6 weeks.

The only tax that cannot run away is VAT.

For ever 3000 Euros spent, 500 Euros will be taxed.