Who set up our current tax laws!

[Superhudd]

This is getting ridiculous now. How much tax is being paid.

McDs £80m on 3.6Billion worth of sales
KFC £36m on 1.1Billion worth of sales
Facebook £238k on 175Million of revenues
Google £6m on 2.6Billion of revenue
Starbucks no tax paid the last three years despite sales of 1.2Billion

From http://www.dailymail.co.uk/news/art...ayers-paying-just-8-6m-tax-past-14-years.html

I know the figues are probably skewed to sensationalise the article, but still which mug govenment set up the current tax laws, and as someone that doesn't really know too much about tax apart from what I and the misses pays, how has the current govenment not dealt with this brick.

 

[Richie]

Comparing tax to sales revenue is fudging departed. Companies only have to pay tax on profits, not on revenue. Whoever wrote that article is a disgrace

 

[Superhudd]

Comparing tax to sales revenue is fudging departed. Companies only have to pay tax on profits, not on revenue. Whoever wrote that article is a disgrace

So any way of finding out profits or because they are franchises its basically impossible

I was more looking at the tax amounts they were paying.

£6m for google is departed. How much profit did they make from 2.6billion to only pay 6mllion?

 

[Richie]

So any way of finding out profits or because they are franchises its basically impossible

I was more looking at the tax amounts they were paying.

£6m for google is departed. How much profit did they make from 2.6billion to only pay 6mllion?

They are all plc's, so if you want you can look at their accounts (profit/loss, balance sheet).

Tax avoidance is a reality of a global market. Just as your high street shops have to compete on price for your business, countries need to compete on tax rates. Not to mention corporation tax is a ludicrous concept anyway. Corporations can't pay tax, only people can, so it's either coming from employees, shareholders or (most likely) customers.

 

[Superhudd]

They are all plc's, so if you want you can look at their accounts (profit/loss, balance sheet).

Tax avoidance is a reality of a global market. Just as your high street shops have to compete on price for your business, countries need to compete on tax rates. Not to mention corporation tax is a ludicrous concept anyway. Corporations can't pay tax, only people can, so it's either coming from employees, shareholders or (most likely) customers.

So, lets take petrol as an example and break down how much it costs per litre, with a good 80p or 60% going to the coffers

Why cannot the above apply for a cup of coffee at starbucks, a burger at McDs or a chicken piece at KFC.

If they don't want to pay the 60%, we find another brand to fill its shoes that will.

At the very least the health bill will go down.

Seems to me that these brands think they can push countries around and pay whatever they want to pay, and not what they should be paying.

 

[southstand1882]

So, lets take petrol as an example and break down how much it costs per litre, with a good 80p or 60% going to the coffers

Why cannot the above apply for a cup of coffee at starbucks, a burger at McDs or a chicken piece at KFC.

If they don't want to pay the 60%, we find another brand to fill its shoes that will.

At the very least the health bill will go down.

Seems to me that these brands think they can push countries around and pay whatever they want to pay, and not what they should be paying.

Er, who pays the 80% per litre to the government?

We do.....not BP!!!

But this is an interesting debate

1) Companies should pay no tax in the UK
2) Companies should pay more tax in the UK

Personally I think we should address WHY we need such huge tax revenues in the first place

Is it to fund politicians, quangos, the unemployed, social services, pilgrims and Labour's credit card debts?

Or does all this money find its way to the elderly, homeless, disabled and most vulnerable members of the society?

Perhaps if we stopped allowing successive governments to completely mug us all off, we wouldn't need such high taxes in the first place.

 

[Superted]

Indeed. Tax Revenues should be minimalised.

Governments don't value add, they don't build, they don't create. They just block and stifle and slow down economic development.

 

[Baleforce]

it would be interesting to see the comparison with how much tax the pay in other countries, thats the real gauge of how well our system is working

 

[Leeds Spur]

Comparing tax to sales revenue is fudging departed. Companies only have to pay tax on profits, not on revenue. Whoever wrote that article is a disgrace

DO you think Amazon and Facebook pay the right amount of tax?

That would be departed.

They fiddle the books to funnel revenues through tax havens to ensure they pay minimal tax.

Whilst trading in the UK and enjoying access to our market.

They need to pay up or fudge off.

 

[Leeds Spur]

Indeed. Tax Revenues should be minimalised.

Governments don't value add, they don't build, they don't create. They just block and stifle and slow down economic development.

Yep.......sub prime is all down to the pesky governments interfering.

 

[Leeds Spur]

They are all plc's, so if you want you can look at their accounts (profit/loss, balance sheet).

Tax avoidance is a reality of a global market. Just as your high street shops have to compete on price for your business, countries need to compete on tax rates. Not to mention corporation tax is a ludicrous concept anyway. Corporations can't pay tax, only people can, so it's either coming from employees, shareholders or (most likely) customers.

WHo says corporations can't pay tax?

Why not pay a tax on the profits you make?

The shambles is that SME's pay their full tax bill whilst large corporates get away with murder because they have tax lawyers working on it day and night.

 

[Baleforce]

i don't see what good comes from getting them to fudge off, then we'd be without the tax they (and their employee's) do pay and the jobs they create

 

[Leeds Spur]

Lol.....you reckon Amazon would quit the UK?

They add ZERO value!!

Those 'jobs' would just be taken by their competitors. Actually there would be more jobs are the jobs wouldn't be offshored.

McDs £80m on 3.6Billion worth of sales
KFC £36m on 1.1Billion worth of sales
Facebook £238k on 175Million of revenues
Google £6m on 2.6Billion of revenue
Starbucks no tax paid the last three years despite sales of 1.2Billion

There are alternatives to all off the corporate qunts.

If you wanna trade in the UK you play by OUR fudging rules or you fudge off.

See what Google do in China? They bend over backwards for access to the market, riding roughshod over privacy concerns etc.

The US is far far far more effective at collecting tax. Their citizens pay tax on WORLDWIDE income or give up their citizenship.

These people and corporations need to be called out.

Or we use Yahoo/Bing/Costa Coffee etc

 

[Baleforce]

i'd be surprised if yahoo/bing/costa were not doing the same thing

 

[Leeds Spur]

They probably aren't.

But you said what good comes of telling them to fudge off and said it could effect jobs?

Wrong IMO.

That money just goes to other enterprises that will play the game, and they employ extra staff that takes up the slack.

The UK is the 4th largest consumer market in the world, entry has a price.

 

[Richie]

WHo says corporations can't pay tax?

Why not pay a tax on the profits you make?

The shambles is that SME's pay their full tax bill whilst large corporates get away with murder because they have tax lawyers working on it day and night.

Because they dont pay it!!! And I don't mean tax avoidance/evasion, I mean that tax comes out of the pockets of consumers in higher prices, employees in lower wages, or shareholders in lower share value and dividends (which includes anyone with a pension)

 

[Richie]

Yep.......sub prime is all down to the pesky governments interfering.

Yeah, it is. The Fed set interest rates low in 2001 to keep growth going on after the dot com bubble. If the banks had set their own interest rates (which would have been much higher) then growth would have slowed, perhaps even a small recession, and everyone wouldn't have kept living off credit they couldn't afford for a decade.

 

[Richie]

They probably aren't.

But you said what good comes of telling them to fudge off and said it could effect jobs?

Wrong IMO.

That money just goes to other enterprises that will play the game, and they employ extra staff that takes up the slack.

The UK is the 4th largest consumer market in the world, entry has a price.

You're actually wrong, entry doesn't have a price. As long as you believe in the European free market, Amazon can base itself in any country in the EU and ship to the UK and then pay absolutely nothing to HMRC.

 

[Danishfurniturelover]

Er, who pays the 80% per litre to the government?

We do.....not BP!!!

But this is an interesting debate

1) Companies should pay no tax in the UK
2) Companies should pay more tax in the UK

Personally I think we should address WHY we need such huge tax revenues in the first place

Is it to fund politicians, quangos, the unemployed, social services, pilgrims and Labour's credit card debts?

Or does all this money find its way to the elderly, homeless, disabled and most vulnerable members of the society?

Perhaps if we stopped allowing successive governments to completely mug us all off, we wouldn't need such high taxes in the first place.

Totally agree the best thing the tories can do is once they try to get the defecit and debt going down is cut everything to the core and then let people have control of the money they earn, it would also have the effect of stopping future left wing governments of getting into power because they rely on state workers and the like.

We are all taxed for to much, tax should be for the essentials and nothing more, take foreign aid. It should be down to the people of this country to decide what they send their money on, i have donated to 2 charities this year, they were ones of my choice and i was happy with it. I do not need governments telling me who i should donate to.

 

[Danishfurniturelover]

You're actually wrong, entry doesn't have a price. As long as you believe in the European free market, Amazon can base itself in any country in the EU and ship to the UK and then pay absolutely nothing to HMRC.

The is no such thing anymore as the European free market it is a loaded question. Just watch what they would do if we ever got the guts to do the right thing and go the path of switzerland.