Stamp Duty retrospective claw back by HMRC

rpc

BazzaDP wrote: »

Agree totally! HMRC should be deciding tax people pay, not companies making up a number hoping it will get some heat off their back.

And Eric !!!!!!! has said as much.

The problem is that international tax arrangements and transfer pricing are blummin difficult to deal with and any form of double taxation would not be tolerated. Taxation of global companies is not an easy problem at all and the public image is not helped by the media constantly latching on to turnover (no tax in UK law is levied on turnover).

BazzaDP

rpc wrote: »

the public image is not helped by the media constantly latching on to turnover (no tax in UK law is levied on turnover).

Yes, but when the profit is fiddled, then what can you go on?

While I agree it should be made clear of the distinction, a company turning over a billion pounds which makes 0 profit is distinctly odd. Also are you really telling me that Starbucks has failed to make a profit in the UK for 15 years in a row? How are they still trading if that is the case!?! Why are they still trading if that is the case?!?

As I said earlier the problem with tax avoidance is it creates an unfair playing ground - especially to local businesses. Blogged about this here: http://randomwitterings.com/2012/12/09/multi-nationals-should-pay-more-tax/