Multinationals and Tax Avoidance

Hi

Following on from my previous posts regarding this.

A young Economics Post Grad has written a paper on this.

It is quite interesting.

She has identified around 360 experts working for the Multinationals.

Her view is this, if we paid them £3 million a year each, tax free, we could reclaim £12 Billion a year in Tax, which is around £10 Billion a year net gain to the UK.

It is more than our net payments to the EU.

She has been rejected as her proposal has been regarded as political suicide for any Party which went down this route.

I can understand the Politics, the envy of the rich, but I am a very pragmatic Northerner.

I would put down £1 of my own money every day of the week if I was getting £10 back.

Even if she is out by 80%, I would still put down £1 every day to get £2 back.

I would be interested in your views on this.

Re: Multinationals and Tax Avoidance

But wouldn't the multinationals just find 360 more experts to replace them?

Re: Multinationals and Tax Avoidance

Bribing people to be honest ? I don't think so !

Re: Multinationals and Tax Avoidance

Multinationals, like all businesses and even you or I, want to pay as little tax as possible and they therefore use every legal means at their disposal to do just that. Whilst we may all find it morally reprehensible to pay so little on such seemingly vast profits, it is our over complex tax system that is to blame and it is that which needs reform to prevent these abuses.

Re: Multinationals and Tax Avoidance

Hi

To answer the two points raised.

The Experts train the Juniors, so if the Multinationals get better Experts, we sack some of the ones we have have and replace them.

Alan, life is reality, it is not bribing them to be honest, it is paying the market rate to get them on our side.

£10 Billion a year is not to be sniffed at.

It is the same with National Security.

We are currently advertising for Covert Surveillance Specialists.

https://recruitmentservices.applicat...-Ref-660/en-GB

That is another joke.

The opposition are paying 10 times that amount for the best.

It is worth it.

I know of one UK based Financial outfit which was hacked big time.

They employed the 17 year old who did it on a salary of £1 million a year, neatly hidden in the accounts, just to save the embarrassment of not admitting that they had been hacked.

They haven't been hacked since, a very pragmatic and worthwhile investment.

I have no doubt that if they do get hacked again, they will sack him and employ the new hacker.

Re: Multinationals and Tax Avoidance

And so they should! It's defeating the object to punish hackers. They are more qualified for the job than anyone else.
Aaron Schwarz, 'The Internet's Own Boy' was killed by the stupid Americans for showing them up to be incompetents. Alan Turing was a hacker and look what we did to him.
We should punish politicians for incompetence and stupidity, then we might get a better class of MPs.

Re: Multinationals and Tax Avoidance

For at least forty years Multinationals trading in the UK have been avoiding tax, legal and otherwise
This has been encouraged by Governments who are in cahoots with them.
Apple, Google. Amazon, and Starbucks, get away with murder
We are subsidizing their unpaid Tax Bill.
If only we stopped supporting them, … but this won’t happen
Why support British Coffee shop instead of paying high prices in Starbucks?
If we knew the real cost of goods like Computers and Smart Phones we would have a heart attack as the profits are obscene. They Can generate 90% gross profit, while the workers who make them, get low very pay. Also, they buy other Companies and this is offset against Tax for up to 10 years
Example
Google employs 700 personnel to sell advertising. However, sales are processed and booked in Ireland, saving 16% before adding other costs, and very cleverly charging Service Charges to Ireland through their Dutch Susidary
The public is treated like imbeciles. If we complain and get a ‘Kick up the Backside, To put it politely
Many British workers can’t even claim travelling expences which eats into their meagre salaries/wages.
The Excuse is that these Companies ‘Will up sticks’ and go elsewhere leaving thousands unemployed. ‘Piffle and Balderdash’ Of course they won’t . They know where they are better off.
There are many Britsh Businesses who will be pleased to take over and pay tax as well.

Re: Multinationals and Tax Avoidance

You mean reward those who fiddle their expenses to a greater extent than others?