Discussion in 'Current Affairs, News and Analysis' started by brighton hippy, Oct 16, 2012.
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£8 million pound taxes over 14 years on £1.4billion profit a tad doing a carr
As I said to a mate earlier tonight, perhaps the Lib Dems should squeal louder about corporations rather than taxing the rich, then. A corporation would rather (in profit terms, and in the face of having to) pay tax and have a proportion of something rather than the square root of bugger-all, whilst the rich (amongst whose ranks some of our biggest innovators and wealth generators reside) are more likely to just up sticks and bugger off to live somewhere else... thus ensuring a lose/lose.
A great deal of tax avoidance law was foisted upon us by the EU, and the Osbournes, Browns and Darlings of this world did the rest.
Perhaps a lot of the money was written off against the free coffee given to "The Troops"?
Vertical Integration : the Oil industry has used that model for a century to spectacular effect to ensure it always seems to have high 'operating costs' that can be offset against tax.
Seemingly they haven't paid any tax for the last 3 years.
BBC News - Starbucks 'paid just £8.6m UK tax in 14 years'
14 years. Seems to take the start of it back to just after New Labour took power. Any link to their Chancellor, I wonder?
Damn Starbucks. What they should have done is paid a ****-load of tax they had no legal obligation to. After all, as an American company, it's their patriotic duty to the UK.
Actually yes they ****ing well should, you operate in the UK you pay the tax.
If the UK wants to stop people / firms legally avoiding tax, change the bloody law. The ONLY duty of a company is to maximise returns to shareholders.
So Starbucks have paid no tax in the UK ? Other than the VAT, 10% tax on it's employees, business rates and of course employing tens of thousands of people who also pay tax,NI,council tax,fuel duties and VAT. How very dare they not make enough profit to pay corporation tax !
You're a ****ing idiot.
Consumers pay VAT. Employees pay income and NI contributions and everything else you list. Starbucks pay the employees as little as they can get away with in order to maximise their profits.
So, change the law.
And you need to Google Employers' NICs. Guess who pays that. Oh, and look into Dividend Tax Credits.
Personally I thing “no taxation without representation” and since corporations do not vote they should not pay tax.
At the moment a complete elimination of the taxes paid by corporations is not practical, however, a considerable reduction would stimulate the economy and might actually bring in more money.
Also idiots like Pyianno also needs to Google “business rates.”
Simplifying the tax laws would be a start.
On Radio 4 last night was some talk programme, GE has paid bugger all tax in the US, their tax laws currently run to 75,000 pages, in Nixon's day it was 1000. As ours can't be far behind its no wonder the big companies find it worthwhile employing a tax dept to minimise their tax bill. I can't imagine there are many here who would quite happily pay less tax, legally, if they could.
The ones who say they wouldn't mind paying more are lying.
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