Quizzes & Puzzles20 mins ago
Why Wont They Chase The Big Boys?
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The MWSD's are very good at bullying the majority of us so why dont they do the same to those that are 'swindling' the state out of Billions?
The MWSD's are very good at bullying the majority of us so why dont they do the same to those that are 'swindling' the state out of Billions?
Answers
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If memory serves, didn't vodafone avoid their bill by taking out the head of HMRC for a sumptuous lunch?
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One rule for them, a vastly different one for us.
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One rule for them, a vastly different one for us.
heh. Its one thing identifying the problem, its quite another doing something about it. These multinationals have access to mechanisms not available to small and medium businesses, and many of the HMRCs tax advisors who frame the legislation subsequently go on to work for those self-same multinationals, or KPMG and the like, which is much the same thing.
And as Gromit points out, there does appear to have been an unduly cosy relationship between the then head of HMRC and Vodaphone.
Economists amongst you, please tell me what is wrong with this idea I saw floated the other day.
Rather than imposing a corporation tax on net profits, as is currently the case, why not remove corporation tax altogether, but add a very small amount in a kind of supplementary sales tax at the till?
That way, multinationals would act as the tax collectors for HMRC and would not be able to escape their contribution, based entirely upon their sales in that particular country? There would be no prospect of funnelling off funds or hiding profits then...
And as Gromit points out, there does appear to have been an unduly cosy relationship between the then head of HMRC and Vodaphone.
Economists amongst you, please tell me what is wrong with this idea I saw floated the other day.
Rather than imposing a corporation tax on net profits, as is currently the case, why not remove corporation tax altogether, but add a very small amount in a kind of supplementary sales tax at the till?
That way, multinationals would act as the tax collectors for HMRC and would not be able to escape their contribution, based entirely upon their sales in that particular country? There would be no prospect of funnelling off funds or hiding profits then...
True Gromit, but money should not be the deciding factor
Lazy, that works for Retail companies but not for all. VAT is already there if you want to get it at the till but of course the companies along the way claim it back.
I personally think we should have a much simpler tax system which would lead to easier prosecution meaning more pay meaning we can reduce the tax rates and so make it not worthwhile to avoid.
It has been done successfully.
Lazy, that works for Retail companies but not for all. VAT is already there if you want to get it at the till but of course the companies along the way claim it back.
I personally think we should have a much simpler tax system which would lead to easier prosecution meaning more pay meaning we can reduce the tax rates and so make it not worthwhile to avoid.
It has been done successfully.
The problem is that the cleverest and best tax experts do not work for the inland revenue. They all work for large multinational company's who can pay many times more than Revenue can. The ones left to work for the government are those who are not clever enough to get a job in a large company. The top level accountants in the large company's will always be able to outwit the revenue who can only afford to employ the 'failures'.
If you were a top accountant would you work for the revenue if you could earn at
If you were a top accountant would you work for the revenue if you could earn at
@ymb I take your point, but even B2B companies without a retail network will have to bill their customers - so could they not just impose a notional supplementary tax at that point as well, and just do away with corporation tax altogether?
In my own business, I invoice as an external consultant. It would not be a hardship in processing terms to add a kind of supplementary, transaction tax onto those invoices, and would certainly reduce my accountancy fees, i think ;)
In my own business, I invoice as an external consultant. It would not be a hardship in processing terms to add a kind of supplementary, transaction tax onto those invoices, and would certainly reduce my accountancy fees, i think ;)
Various reasons
big business rules the world
they know its very difficult to beat these people, time consuming, very expensive and no guaranteed outcome
Only real way is changes to the tax laws, but thats not going to happen in any big way anytime soon, last thing they want is to shoot themselves in the foot.
if what they are doing is legal then i'm afraid its suck it time,
who in their right mind pays more tax than they are legally obliged to...only a mug
big business rules the world
they know its very difficult to beat these people, time consuming, very expensive and no guaranteed outcome
Only real way is changes to the tax laws, but thats not going to happen in any big way anytime soon, last thing they want is to shoot themselves in the foot.
if what they are doing is legal then i'm afraid its suck it time,
who in their right mind pays more tax than they are legally obliged to...only a mug
One can simplify the national rules on tax as much as one likes, although that probably means more unfairness in the system since things are no longert tailored to situations. However these are multinational companies in a world the politicians have made easy to transfer money, labour, anything. If they don't get an unfairly beneficial deal in one place they move, either physically or using slight of hand on the paperwork, and carry on as before.
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But the general principle is, I regret, that we must pay the taxes that we owe whether or not Johnny-next-door pulls a fast one.
when i was arrested for drunk driving I wondered if the police didnt have something better to do
and of course they have ! They just dont like being shot at (I did not have a .... )
But the general principle is, I regret, that we must pay the taxes that we owe whether or not Johnny-next-door pulls a fast one.
when i was arrested for drunk driving I wondered if the police didnt have something better to do
and of course they have ! They just dont like being shot at (I did not have a .... )
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