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yokel

Google, Amazon, Apple, Ireland

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Politicians are impotently foaming at the mouth over these companies being based in low tax Ireland.

Last year the UK government helped bail out Ireland - its deficit was too big.. Surely that is one way to tackle this. Demand our money back and pay them no more.

That's assuming that they can't change the tax laws.

Y

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1. Apple tax lawyers identified a difference between the definitions of tax residency used in Ireland (whose common law traditions are shared with the UK), and that of the US.

Clever tax lawyers take advantage of loopholes in every jurisdiction.

http://www.telegraph.co.uk/technology/apple/10070936/Ireland-we-are-not-to-blame-for-Apple-tax-affairs.html

http://m.guardian.co.uk/commentisfree/2013/mar/17/osborne-new-rules-tax-avoidance-dodge

2. Ireland's 'bailout' has put the Irish taxpayer on the hook for bondholders (banks & pension funds) all over Europe including the UK.

http://www.irishtimes.com/news/letters-show-extent-of-pressure-put-on-lenihan-for-bailout-1.525313

Nobody does any favours in this world, least of all the Chancellor of the Exchequer.

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The companies are doing nothing wrong, me, you, anyone that could would be doing the same thing.

The issue is with the tax laws, and therefore by definition it is a problem created by the government. Why they feel they need to accuse companies of wrong doing is beyond me. The panels elected to resolve this should have the government in front of them.

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The companies are doing nothing wrong, me, you, anyone that could would be doing the same thing.

The issue is with the tax laws, and therefore by definition it is a problem created by the government. Why they feel they need to accuse companies of wrong doing is beyond me. The panels elected to resolve this should have the government in front of them.

..you are assuming Government is bright..?...they are more like their own 'Kangaroo court' led by Margaret Hodge...the Treasury should have agreed the way forward with the US and Euro Treasuries by now...all VIs should declare by law (jail VI evaders) ....and then invoice the companies to pay their tax, which many of the poorest in the country have to pay...Corporation tax is relatively low in this country right now.... :rolleyes:

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...Corporation tax is relatively low in this country right now....

Which leads me to the question, why not just abolish it and replace it with a simple sales tax, remove some of the unnecessary complications from the system? Or would that put a few big cheeses in the "big 4" audit firms out of 'work' so that would never be considered?

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Which leads me to the question, why not just abolish it and replace it with a simple sales tax, remove some of the unnecessary complications from the system? Or would that put a few big cheeses in the "big 4" audit firms out of 'work' so that would never be considered?

In principle seems fine but there will always be complications:

what happens if sales tax is greater than the income (if its linked to profitability its no longer a sales tax)?

Its possible that for very profitable companies they would accumulate even larger untaxed reserves.

The sales tax would discriminate against countries that were producers and not purchasers of goods.

To name a few....

One has to ask the question why are we lowering corporate tax rates ?

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In principle seems fine but there will always be complications:

what happens if sales tax is greater than the income (if its linked to profitability its no longer a sales tax)?

Its possible that for very profitable companies they would accumulate even larger untaxed reserves.

The sales tax would discriminate against countries that were producers and not purchasers of goods.

To name a few....

One has to ask the question why are we lowering corporate tax rates ?

The answer to all of this is VAT rather than Sales tax (VAT is really a type of sales tax, but with the difference that you can claim back VAT on your input costs). Only problem is how to tax people selling 0% or VAT exempt stuff (e.g. food). Would probably just introduce a lower VAT band for this (say 5%).

VAT is actually a pretty good tax. There's no point trying to avoid/evade paying it as a business (as you just claim it back on your inputs anyway), and its really tricky to avoid charging it to consumers (few loopholes- e.g Amazon shipping stuff from the Channel Islands, which should be easy to close)

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Ireland is just another tax haven for the corporates criminal regime from US multinationals to German banksters.

A pariah state like London, Cyprus, Luxembourg et al.

Shut them all down.

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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