Should multinationals and multibillionaires pay fair tax?

[motorbiking]

A lot of 50pers looked for ways to defer or earn their money differently.

Coke have always been on the cutting edge of using royalties to move profits around the world.

 

[ajohn]

Corporations may choose to shift their losses where ever they want. Sometimes our tax people finish up negotiating numbers other than what they would like to pay.

 

[Ihavenojob]

It seems you did not read my post.

You asked a question, I gave an answer.

 

[Mottie]

It seems you did not read my post.

It seems you didn’t read mine either. Maybe you did but it was, as in the past 5 times I’ve asked you, too difficult and embarrassing to answer.

 

[JohnD]

Corporations may choose to shift their losses where ever they want.

If tax laws are written to enable it.

 

[carmanmemoranda]

As I say, 'fair' is totally subjective therefore, even more so on a GD forum such as this one, agreement will never be reached

Still eating my popcorn ...

It would be good to see a lot of loopholes attacked.

There's a reason the tax rules are so complicated though.

 

[blup]

We could take a leaf out of US tax laws and tax british nationals who make profit in foreign jurisdictions.

 

[ajohn]

If tax laws are written to enable it.

Some and it's thought to be sizeable is just plain avoiding paying tax. Essentially by hiding what was done to earn it. For instance jobs may be done and no VAT charged. When it gets to the "books" the job wont be there.

 

[JohnD]

We could take a leaf out of US tax laws and tax british nationals who make profit in foreign jurisdictions.

Yes, US taxes UK citizens, living in UK, if they own US shares.

 

[Murdochcat]

I’ve never understood why successive Governments haven’t just increased the budget for HMRC so they can employ more staff, to collect more taxes

AND simplified our tax rules to eradicate loop holes.

It can’t be that hard

 

[blup]

Tax has got more complex because politicians have to find more devious ways to tax people while keeping income tax down, as well as incentivising certain schemes like ISA’s.

 

[JohnD]

I’ve never understood why successive Governments haven’t just increased the budget for HMRC so they can employ more staff, to collect more taxes

AND simplified our tax rules to eradicate loop holes.

It can’t be that hard

Looking after their buddies.

 

[ajohn]

I’ve never understood why successive Governments haven’t just increased the budget for HMRC

Starmer has or will. He sees it as important.

 

[JohnD]

"Italy has doubled a flat tax on the foreign income of new residents, in a blow to rich expats seeking to flee the prospect of higher levies elsewhere in Europe. Prime Minister Giorgia Meloni’s cabinet on Wednesday approved a rise in the annual levy on overseas income for new tax residents in Italy to €200,000."

FT.com

 

[carmanmemoranda]

AND simplified our tax rules to eradicate loop holes.

It can’t be that hard

It's not that it's hard.

You just have to ask why tax rules are so complicated.

And why the big 4 accounting companies are those that help write them (and therefore understand them).