Do You Know Luxury Travel History?
August 27, 2010
The luxury travel market is bigger to day than over before. Increasing affluence in the late 1990s and 2000s has greatly expended the market and there appears to be no end in sight.
The recent economic climate has increased the wealth and purchasing power of many reflected in the arrival of luxury brands such as Gucci, Vertu, Louis Vuitton and Lacoste. As Viet Nam’s economy strengthens, the tourism industry is inevitably expanding its own horizons. Once considered a backpacker destination, Viet Nam is now attracting a different kind of tourist with growing high – end options.
Golfing holidays have developed fast over the last couple of years, with fourteen golf courses already in place from the north to the south and more under development. Spa, wine and food, beach vacations, family travel, cruise, honeymoon and romance travel are all becoming favorites for upscale travelers. Historically, travel has been synonymous with luxury. Travel for the sake of curiosity and fun was the domain of the wealthy. The average family rarely ventured beyond their own village. How things have changed !
Thomas Cook started what is arguably the first modern travel agency in the 19th century, selling cruise ship tickets to leisure travels. Viet Nam experienced it’s first taste of luxury travel in the early 19th Century, with the arrival of the Emeraude paddle steamer. Cruising the grottos of Ha Long Bay, for the most part, the Emeraude serviced wealthy French travelers visiting Indochina and beyond.
This type of travel was only available to a small percentage of the population. Indeed, real luxury travel as we think of it today was only for the very elite until 1950s when business travel became more common and popular. Initially, most business travelers went by land. The advent of air travel made the world smaller, allowing people to travel further and faster. This style of transport, however, was still expensive, exotic and dangerous.
These days, the whole idea of luxury has moved up a notch. What was considered “Luxury” just a few years before is now available to a much larger slice of the population. Branded hotels, cruises lines, international resorts and luxury tours companies continue to create new products to meet the demand of the disceming travels. Viet Nam’s tourism authority should focus on the market segment; the amount each tourist spends, rather than just the number of tourists traveling in Viet Nam.
According to Mr. Pham. CEO of Luxury Travel Viet Nam, “the Viet Nam’s tourism authority must think outside the box and get out of the image crisis about Viet Nam as a destination; they should aim to promote a luxury image of this country”.
Viet Nam’s first luxury tour company commenced operation in 2004 to satisfy the increasing number of luxury travelers coming to the country for leisure and business. “ We recently returned from our wonderful 15 day journey to Viet Nam and Cambodia arranged by Luxury Travel Viet Nam,” said Pamela Solvang, Shark TV, Texas, USA. “ We have used the best luxury travel companies in the US and else where and can attest that Luxury Travel Vietnam provides excellent services!”
Luxury Travel Viet Nam
05 Nguyen Truong To Str., Ba Dinh Dist, Ha Noi, Viet Nam
26 Dong Khoi Street, Dist 1, Saigon
Phone: +84.4.39274120 Exit 108
Fax: + 84.4.39274118
www. Luxury Travel Vietnam.com
Pham Ha
http://www.articlesbase.com/travel-tips-articles/do-you-know-luxury-travel-history-680551.html
7 Responses to “Do You Know Luxury Travel History?”
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Is this an indicator of Tax Evasion?
If a business:
1.) Operates to provide one type of service but has eight different incorps and llc’s to the same place of business…
2.) Has four postal addresses for one location….
3.) Spouse on payroll making excess 10K a month but knows NADA about business…
4.) Has millions of dollars in equiptment but lists them as assets for one of said holding companies listed above…
5.) Sells Inventory for cash
6.) Spouse has cleaning business making excess 75K a year with employees on OTHER spouses payroll and cleaning business has no EIN or history of tax payments..EVER.
7.) Claims boats and luxury travel as business expenditures (personal in nature)
Well I guess of course it’s not legit but could someone explain the reasoning behind the moving of assets to useless corps, spouse on payroll and so on? I am interested in knowing what benefit they are getting out of doing this. Why all the different addresses? Thanks Guys (and Gals)
Okay, P.S. It’s MY employer…..
They all sound very suspicious. If this is your current employer you should think if you have some legal exposure to this situation. Have you been a participant in any of these activities? You might be called to testify against them.
Also think what you do for income if they were forced to shut down as a result of a civil or criminal tax situation. You might start looking for another job.
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Individually they are not an indicator, but put together they are suspicious certainly.
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I am a CPA and auditor
It certainly LOOKS odd, but it would take a detailed forensic audit to determine if anything illegal was going on.
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Your have provided enough indicators of fraud and indicators of large underpayments to make an IRS special agent drool.
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Together, they may indicate problems. But for you, I would be concerned that taxes withheld from your paycheck are actually being sent to the state and feds. Although you can’t be held responsible, it would still be a concern that the correct amount is being withheld and paid.
1. Just complicates their tax structure
2. Not a problem. Could be necessary to track postal costs for each business.
3. We have a president, secretary of state, and some former presidents that fit that description.
4. Equipment is a depreciable asset.
5. Waffle House did that for 50 years. But it takes accurate tacking so that cash from sales isn’t skimmed.
6. Big problem not with employees, but with no EIN number. Businesses who hire the cleaning contractor deducts their expenxes.
7. AIG did that recently in Phoenix. They will have to show that the trips were business related. Use of a boat is deductible for the same reason – business related and provable.
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A lot of this sounds suspicious (especially the spouse’s "cleaning business"), but it can be hard to prove this kind of allegation. Of course, once the IRS starts investigating, they’re likely to dig up something.
The IRS does pay out rewards to people who turn in tax evaders — it ends up being about 2% to 5% of the total amount collected each year, but that could mean lots of rewards for a few people and nothing for everyone else.
To be honest, it may not be in your financial benefit to turn your boss in — you might lose your income, and it might lead to a bad reference — but the moral decision is up to you.
References :
http://www.taxrascal.com/