The Boeing 747-8 being offered to Donald Trump by Qatar once served the Qatari royal family and has been sitting unsold for years.
The jet, a lavishly configured version of Boeing’s largest passenger aircraft, has been lingering without a buyer since being put up for sale in 2020, according to aircraft listings and aviation analysts.
John Goglia, a former member of the National Transportation Safety Board, told Forbes that giving the 747-8 to the U.S. would allow the Qataris to avoid maintenance costs that were only getting higher—with the 747 fleet shrinking worldwide and fewer mechanics available who know how to work on them.
Prizes are income, otherwise companiea would hold a raffle each month to determine your salary.
Or, and this is a wild one, or the law could give a devinition of “price” that doesn’t open it up for abuse while not taking from people who won something.
Because that will definitely not lead to loopholes.
It’s how the law is in my country (Germany) and I wouldn’t know of any loopholes here.
If you win something in a lottery or a quiz show here, as long as it’s not job related, you don’t have to pay taxes on it. If you win a million you get a million. But if you put that million into a bank or invest it in any way, you have to pay taxes on the money you earn trough that.
Not here in the UK. I think there are exceptions - bonuses at work are taxed, if a professional artist wins money in an art competition that’s regarded as work money and taxed. But if you win the lottery or a bet on the horses, no tax to pay.
So trump would have to pay taxes on the plane eh?
According to the rules (who knows if they are followed nowadays), the plane belongs to America for now. When Trump’s presidency is over he would have to pay taxes and stuff on it if he wants to keep it (which it looks like his foundation or whatever shell company he’s got going on will pay the taxes on that).
In general, if any gifts given to the president belongs to the country and when they leave the position, they can elect to keep the gift as a personal item if they pay the taxes for it. Otherwise the gift stays belonging to America in the archives somewhere.
These types of policies are just government greed very, verrrrrry thinly disguised as -yet more- taxes.
“Oh, well done, good for you. You did all the work and you’ve won something…HA, nope, we’ve won something. I’ve done fuck all in this but I demand my percentage, where’s my cut?”