She’ll - Highest Profits Ever

[mushroom25]

https://www.bbc.co.uk/news/uk-64489147

we’ve been here before but now the scale of their profits have brought it back into the news.

yet of all that stupendously huge sum, only 5% is made on the company’s uk operation, the rest is made and taxed elsewhere.

a bigger windfall tax on shell would be a popular move right now. but would it be right - morally or otherwise - to tax profits made overseas and which have already been taxed?

[bobbinwales]

There already paying 75% tax on there uk profit so there's not much more to take.

[naomi24]

Bob, there’s a message for you in Editor’s Blog. Sorry for the interruption mushroom.

[Canary42]

Big Business and Morality are poles apart.

[bobbinwales]

How can they tax profits in other country's whose already taxing them. There be an outcry if foreign govs tried to rake tax from our cos here

[ToraToraTora]

She will?

[Deskdiary]

Companies register and pay tax in areas which have low corporation tax, and why wouldn't they?

It's why Amazon is registered in Luxembourg and pays tax on its European profits in Luxembourg.

Areas with low corporation tax attract inward investment (look at Ireland in the past), which in turn creates employment with the employees paying tax etc...which is why the decision to increase UK corporation tax from 19% to 26% is a bad idea; it will stifle investment.

[bobbinwales]

Fatticus use to tell us how well the EU was doing at windfall taxing of these cos and why wasn't UK doing the same...so it seems big chunk of them profits is being taxed.
But I agree Shell etc have been been greedy exploiting the situation ...the only good side is are pension funds are benifiting.

[Old_Geezer]

Governments do tax companies on wealth extracted from foreign nations. Highly questionable morally, but it's the world we live in.

As for whether Shell's 'excessive' profits needs a further windfall tax, I reckon it depends on how much was gained from additional effort on their part, and how much just fell into their lap from the unusual situation the world finds itself in. Is it a windfall, or did they really earn it ?