Peter.
There is no confusion between turnover and profit.
You have to have a good turnover to have a good profit and I have repeatedly said that profit is good and should be welcomed and protected but some companies have taken it too far.
Let's call it revenue then just like, Reuters does at
http://in.reuters.com/article/2013/05/22/eu-tax-avoidance-idINDEE94L07Z20130522
UK, US and EU, are all investigating these companies.
Apple- paid just 2 % tax on income of $74 billion over the past three years, largely by exploiting an unusual loophole in Ireland's tax code.
Google-despite generates $18 billion of revenue in Britain from 2006 to 2011, the Internet search giant paid only $16 million in taxes to British authorities using the same loophole in Ireland's tax code.
Starbucks- paid only 8.6 million pounds in taxes on 3.1 billion of revenues since 2000.
Vodafone- over the past 16 years shows that the British taxman has frequently gone empty handed, losing out on perhaps has much as 1 billion pounds in revenue.
Avoidance might be legal now but maybe not in the future.
