Guest 698- Registered: 28 May 2010
- Posts: 8,664
I've been banging on at Charlie about this for years. He is a man the Chancellor listens to. However I would go further and abolish CT altogether on profits retained in the business but charge a withholding tax on dividends and payments for royalties and intellectual property.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 671- Registered: 4 May 2008
- Posts: 2,095
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.
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 670- Registered: 23 Apr 2008
- Posts: 573
A lawyer will find loopholes in a particular act. A comma in the wrong place can change the whole meaning of what was intended. When the drink/drive laws were adopted a well known loophole was when you were stopped you had a large tot of spirit, this made it almost impossible to prove that the person had been drinking and driving. Aloophole in other words which was never intended and which was an oversight on the part of those who drafted the act.
Tax avoidance is more or less the same thing, you study all aspects and look for that little loophole which in effect is a mistake but which can be exploited to a persons advantage.
Legal, yes, moral no, good for parasites but not good for the rest of us. Barry the likes of Amazon operate aggressive tax avoidance schemes, they are not doing it for the public, extremely naive thinking if you believe they are. They do it to gain an unfair advantage over those who do pay the correct tax.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
#9
What is still made in the UK?
"Electrical goods: OK, so big ticket items such as TV sets and microwave ovens only crop up on the must-buy list occasionally. But shoppers who want to buy British can pick Sony or Phillips TVs (made in South Wales and England respectively), Hotpoint or Creda washing machines, and Sharp or Panasonic microwaves (all of which are assembled throughout Wales)."
http://news.bbc.co.uk/1/hi/uk/1804161.stmIgnorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Dave - the 'correct tax' is what you have to pay by law having done what you are legally able to do to minimise it.
If you want Californian companies to invest here and provide jobs then you have to accept they will not pay much Corporation tax here. Mind you - you can increase what they pay through Charlie's idea with simple and low flat taxes.
Low business tax rates might even attract some of their corporate headquarters here from less enlightened high tax regimes. That means jobs and revenue.
PS - I am glad you enjoyed my wind-up. There is a serious point though, start punishing businesses even more than now and it will cost us all in lost jobs and more expensive products. Anyway - I have a nice box set on it way from Amazon at a fraction of the cost in the shops, that has to be a good thing for the consumer.
Guest 671- Registered: 4 May 2008
- Posts: 2,095
PS. But not good for the shops and not all consumer's.
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
You do not do any good for consumers or the shops by trying to prevent progress and change. The way we shop is changing and the high street needs to adapt to it. Change is always difficult and in the past trying to hold it back caused far more grief than going with the flow.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
grief = being ripped off via payment method
better face to face and paying cash = not getting ripped off.
and your bank account not being hacked into.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Brian - who is getting ripped off by my payment method?
I don't pay any interest of charges on my credit card (cleared monthly) or on Paypal both of which I use for on-line purchases.
I do all my banking on-line and make sure I apply all sensible security measures so it is safe and provided I do that the bank has legal responsibility for the security. No poss or problems for me through that.
No grief, no getting ripped off.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
People who don't bank online are at greater risk. If you pay with a cheque you are giving away all your bank details plus a specimen signature.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
don't bank online and cannot remember the last time i wrote out a cheque.
mostly i use my cash card at the atm and pay in cash in shops and on cards for the utilities.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
27, Barry, it's not always the customer whose desires drive the market, but innovative manufacturers and retailers. Originally customers wanted to keep the High St but have more choice. Tesco et al decided to start moving town centres to suburbs in order to get big enough shops. Not really what the customers wanted at all but now they are hooked and there's no going back. As Henry Ford famously said: If I'd asked the customers what they wanted, they'd have said 'faster horses'.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
Another Henry Ford classic ``You can have any colour you like as long as it`s black``
Guest 698- Registered: 28 May 2010
- Posts: 8,664
"History is bunk" was another. A bit of a plain speaker.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
to be pendantic a little.sharp make microwaves in wales,so there is no factory in England that makes them then.
the point being wales is wales and England is England,two different countrys.but wales would come under the uk flag.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Peter Garstin wrote:27, Barry, it's not always the customer whose desires drive the market, but innovative manufacturers and retailers. Originally customers wanted to keep the High St but have more choice. Tesco et al decided to start moving town centres to suburbs in order to get big enough shops. Not really what the customers wanted at all but now they are hooked and there's no going back. As Henry Ford famously said: If I'd asked the customers what they wanted, they'd have said 'faster horses'.
Yes Peter, for innovation to work it must achieve consumer acceptance and success. People say they want their High Street but vote by going to the out of town shopping centres and shop on-line.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
talk about shopping on line barry,i see that you are supporting a non uk tax paying company.
Guest 671- Registered: 4 May 2008
- Posts: 2,095
Brian.
BarryW would support anything that does not pay Tax in the UK.
Except of course for those on benefits.
"My New Year's Resolution, is to try and emulate Marek's level of chilled out, thoughtfulness and humour towards other forumites and not lose my decorum"
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
with shopping in town i.e. dover you meet people you know which is a lot less likely to happen in an out of town centre.
despite what many say our shops are cater for most of our needs, would be better if b and q had stayed put though.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
No Howard - most of what I need and want is not catered for in Dover.
GaryC - as someone so enthusiastic about paying tax, how much did you pay last year?