Why is it apparently so difficult to get the big corporations to pay more tax?

ILW

HAMISH_MCTAVISH wrote: »

Then all the obfuscation in the world won't change the fact that some of that will come from increasing prices to consumers, and the rest will come from decreased profits to the shareholders. In other words, ordinary people, their pension funds, their share ISA's, etc.

You simply cannot argue otherwise.

There is nowhere else for it to come from. Consumers, or shareholders.

Businesses are owned by people. Taking money from businesses is taking money from people. Increasing taxes on business is increasing tax on ordinary people.

What if most of the shares are owned by foreigners?

CLAPTON

HAMISH_MCTAVISH wrote: »

Then all the obfuscation in the world won't change the fact that some of that will come from increasing prices to consumers, and the rest will come from decreased profits to the shareholders. In other words, ordinary people, their pension funds, their share ISA's, etc.

You simply cannot argue otherwise.

There is nowhere else for it to come from. Consumers, or shareholders.

Businesses are owned by people. Taking money from businesses is taking money from people. Increasing taxes on business is increasing tax on ordinary people.

indeed true

but the tax regime ought to allow companies to compete on a level playing field and not allow an international company a major advantage over local ones.

ILW

CLAPTON wrote: »

indeed true

but the tax regime ought to allow companies to compete on a level playing field and not allow an international company a major advantage over local ones.

Whilst countries are competing with each other to attract the taxes of these multinationals, that is unlikely to happen.

CLAPTON

ILW wrote: »

Whilst countries are competing with each other to attract the taxes of these multinationals, that is unlikely to happen.

depends upon the tax regime

maybe we ought to abolish corporation tax and increase other taxes that aren't so easy to avoid;
I have no specific proposals but one things of things like turnover taxes, employers NI.... but would need a lot more detailed analysis

ILW

CLAPTON wrote: »

depends upon the tax regime

maybe we ought to abolish corporation tax and increase other taxes that aren't so easy to avoid;
I have no specific proposals but one things of things like turnover taxes, employers NI.... but would need a lot more detailed analysis

I would suspect their is probably a better way.

HAMISH_MCTAVISH

CLAPTON wrote: »

indeed true

but the tax regime ought to allow companies to compete on a level playing field and not allow an international company a major advantage over local ones.

Then the tax should be reduced so that there is no incentive to transfer earnings offshore.

globalds

HAMISH_MCTAVISH wrote: »

Then the tax should be reduced so that there is no incentive to transfer earnings offshore.

But what about those countries that manage their taxation to attract corporations ..Like Ireland ..they would just lower their rates again ...
This really would just play into the hands of multi nationals who would play the present game with even more vigour

FTBFun

Thrugelmir wrote: »

Nor do "they" pay tax in the USA. So there's an increasing resentment towards a number of US Corporates.

Are you sure about that? As I read somewhere that Starbucks pay about 30% CT, mostly to the US.

HAMISH_MCTAVISH

ILW wrote: »

What if most of the shares are owned by foreigners?

Just as we own shares in foreign companies....

The point remains, we all pay for higher taxes, no matter whether that tax is direct or indirect. Or whether that tax also affects foreigners as well as locals.

CLAPTON

HAMISH_MCTAVISH wrote: »

Then the tax should be reduced so that there is no incentive to transfer earnings offshore.

I suggested abolishing corporation tax .. can you get less than this?

if you are saying that (foreign ) companies shouldn't pay any tax then presumably you are suggesting other tax UK increases (VAT, income tax etc) should increase?