International Tax-Dodgers

[JohnD]

Well.

Who'd have thought it?

"US offers new plan in global corporate tax talks
Exclusive: Biden proposal calls for big multinationals to pay national levies based on local sales"

https://www.ft.com/content/847c5f77-f0af-4787-8c8e-070ac6a7c74f


I would.

Should billionaires and multinationals pay fair tax?

Just like the rest of us common little people?

Or should the tax laws be constructed so they can hide it in tax havens? They're not contributing to our public services.

If a company that doesn't pay tax in, say, the UK, has a warehouse fire, should they expect our taxpayer-funded fire service to put it out? Or should they phone Panama and ask for a boat to be sent?

If the owner of the Daily Wail gets burgled, should he get help from the British police?

Is Richard Branson entitled to use our street lamps, or should he run a cable back to the Virgin Islands?

If Murdoch has a stroke and falls over in the street, should he get one of our ambulances?

 

[JohnD]

So would the EU.

Just a few outliers remain to be convinced.

If only there was some way where all the countries in the world's largest market could get together and agree to clamp down on tax dodgers, so that the companies couldn't try to play off one against the other in a Dutch Auction.

But wait!

View attachment 166363

I suppose anyone who wanted to keep helping tax-dodgers would have to resign from the group.

Can there be such people?

 

[SirGalahad]

That just put a spanner in the works of Global Britain.

Nothing much will come from this as the minimum will be set low and easy to avoid. You look at the nominal rate but the important point is what is the real rate that companies actually pay.

 

[Mottie]

That just put a spanner in the works of Global Britain.

Seems to have cheered you up though so not all bad news eh?

 

[SirGalahad]

Seems to have cheered you up though so not all bad news eh?

You still don't get it. It's the term "global Britain" - we have always been global in our outlook, perhaps if you don't know much history you probably thought it began on 1.1.21.

 

[Vinty]

So would the EU.

Just a few outliers remain to be convinced.

UK should do the same
If the big corporates have nowhere to hide then they would have to pay their fair share.
What would you do about Irelands status as the worlds biggest tax haven.

 

[SirGalahad]

UK should do the same
If the big corporates have nowhere to hide then they would have to pay their fair share.
What would you do about Irelands status as the worlds biggest tax haven.

Ireland as the biggest tax haven? Based on what metric?

 

[ellal]

UK should do the same
If the big corporates have nowhere to hide then they would have to pay their fair share.
What would you do about Irelands status as the worlds biggest tax haven.

As of March 2021

The top 10 biggest enablers of global corporate tax abuse

1 British Virgin Islands (British overseas territory)
2 Cayman Islands (British overseas territory)
3 Bermuda (British overseas territory)
4 Netherlands
5 Switzerland
6 Luxembourg
7 Hong Kong
8 Jersey (British crown dependency)
9 Singapore
10 United Arab Emirates

Where is Ireland on that list?

Care to look at the top three?

Edit: Ireland came in as number eleven btw.

Didn't even make it into the final round of 'qualifying'

The UK itself came in at number 13, but that's rather irrelevant given the nature of that top 3!

 

[EddieM]

As of March 2021

The top 10 biggest enablers of global corporate tax abuse

1 British Virgin Islands (British overseas territory)
2 Cayman Islands (British overseas territory)
3 Bermuda (British overseas territory)
4 Netherlands
5 Switzerland
6 Luxembourg
7 Hong Kong
8 Jersey (British crown dependency)
9 Singapore
10 United Arab Emirates

Where is Ireland on that list?

Care to look at the top three?

Edit: Ireland came in as number eleven btw.

Didn't even make it into the final round of 'qualifying'

The UK itself came in at number 13, but that's rather irrelevant given the nature of that top 3!

As has been pointed out to you multiple times before, the top 3 as you quote have independent government's from the UK. They set their own tax laws and the UK has no say in that.

 

[SirGalahad]

Who provides their defence?

Why does the FCO deal with their foreign affairs?

Do they have embassies / diplomatic representation in the UK?

Do the citizens have their own nationality status?

Yep definitely independent...

 

[Mottie]

Yep definitely independent...

From our tax laws? Yes. That is what this thread is about. Unless you know different?

 

[ellal]

As has been pointed out to you multiple times before, the top 3 as you quote have independent government's from the UK. They set their own tax laws and the UK has no say in that.

As before, you're having a laugh!

"They are self-governing territories which rely on the UK for international relations and defence, but their autonomy can be removed."

"Primary legislation requires royal assent."

"As a matter of constitutional law the UK Parliament has unlimited power to legislate for the territories."

Now I wonder why that 'unlimited power' to legislate is not being mentioned despite the UK's apparent 'desire' to crack down on 'tax evasion/avoidance' ?

Oh that's right, it's convenient and relies on too many people who like to be treated as mushrooms!

 

[ellal]

Funny how no-one can back up the claim that Ireland has the status as the 'worlds biggest tax haven'...

 

[SirGalahad]

From our tax laws? Yes. That is what this thread is about. Unless you know different?

Thank you for proving it is the quintessential Tax haven. It is not independent on other matters of state but for Tax it is.

 

[Vinty]

Funny how no-one can back up the claim that Ireland has the status as the 'worlds biggest tax haven'...

Why are you concerned, do you have your pocket money hidden there.