Now Does A Legally Acceptable Practice...
Actually save jobs and keep a business in profit and stop it from going bankrupt or is it wrong?
A BBC radio programme looked at Corporate business and their ways of avoiding paying tax. They named the company, I'll talk in general terms.
Its a big well known retailer. It took over another business but then, was taken over by a private equity company.
It is now registered in Switzerland.
The BBC worked out the profit in the last financial year to be £148million approx.
Tax paid to the UK economy £10million approx.
Previously when based in the UK they have paid £100million in tax.
Now, perhaps it's good that they've hung onto more money as it will give them a cushion for the difficult times and keeps it solvent. Then again that money could be put to good use I am sure.
In reality it's drop in the ocean but if many companies are doing this it all adds up.
A BBC radio programme looked at Corporate business and their ways of avoiding paying tax. They named the company, I'll talk in general terms.
Its a big well known retailer. It took over another business but then, was taken over by a private equity company.
It is now registered in Switzerland.
The BBC worked out the profit in the last financial year to be £148million approx.
Tax paid to the UK economy £10million approx.
Previously when based in the UK they have paid £100million in tax.
Now, perhaps it's good that they've hung onto more money as it will give them a cushion for the difficult times and keeps it solvent. Then again that money could be put to good use I am sure.
In reality it's drop in the ocean but if many companies are doing this it all adds up.
posted by The Great Gildersleeve | 11:36 am
1 Comments:
Saw your comments on my other blog! Thanks.
On the business tax etc it just shows how delicate governments have to be...too much and thbey flee, too little and it is patently not right; a balance must be struck so that these companies pay a wad of cash but not enough to scare them off. They of course use this to hamstring the government. Brown failed where in the 70s failed by scaring everyone away. The example you give is between 6 or 7% (10 mill on 148) and 60% (100 mill) so soemwhere in the middle is needed!
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