Brexit

TickersPlaysPop

Taxation of companies a big lie?

I need help understanding this point please. It was my understanding that the tax was on the profit the company makes?

The way I imagine things is 2 completely opposite economies....

1) only big corporations, hiding profit using international systems

2) only small family businesses not able to hide profits and avoid tax

Companies big or small will charge for products and services as much as the market will burden. This results in huge profits. That profit should not be sucked out of the country, not 100% of it.

The taxation of company profits doesn't necessarily have an impact on the consumer price. Consumer price and product quality is determined by other means, not just taxation.

Huge corporate companies are making a lot of money out of us, and we are asking for a fair and justified percentage back to support the country from which they are making huge profits. Not to allow it to be sucked dry and left in a terrible state, where roads, public services etc are all left to rot.

We need to remember the magnitude of these unpaid corporation tax bills. From the figures I have read in the past it would have a significant impact on reducing our deficit and sovereign debt. Project 'Austerity UK/ privatise everything' would never have been possible if the tax bills were paid.... makes you wonder humm?

HAMISH_MCTAVISH

TickersPlaysPop wrote: »

Taxation of companies a big lie?

I need help understanding this point please. It was my understanding that the tax was on the profit the company makes?

Companies can only ever pay tax on revenues or profits on those revenues.

All revenue and profits for any company, large or small, is generated by selling goods and services to consumers.

So the consumers of goods and services ultimately pay all company taxes, as the cost of those taxes has to be factored into the price of everything we buy, in order for a company to remain in business.

Amazon is only able to sell you things as cheaply as it does because it legally minimises it's costs, and tax is just another cost that has to ultimately be paid by consumers like you and me, so if you want Amazon to pay more tax what you are really doing is wanting us all to pay more for our goods and services.

The way I imagine things is

Just not correct.

See above and then have a think about it for a while....;)

Look, if you really want to pay more for things, then next time you buy something from Amazon or wherever just write a cheque for a few quid extra and post it to your local HMRC office.

As that is the end result of "cracking down on tax avoidance" or "making companies pay their fair share" or all the other daft memes doing the rounds.

All taxes are only ever paid by consumers of goods and services, whether those are direct taxes such as VAT or indirect taxes such as corporation tax, they are all paid by consumers like you and me.

CLAPTON

HAMISH_MCTAVISH wrote: »

We are one of the fastest growing economies in the World because we have both membership of the European single market and the attributes as a nation to maximise the access that membership provides.

Many countries have one or the other, few have both, that makes us very lucky indeed.



Indeed it isn't.

A point you would do well to remember next time you spout anti-EU 'truthiness'.



By definition the EU would be more like UEFA....;)

neither of us have any evidence to support either case.

However, it is clearly true that there are many successful countries that are not members of large economic blocks that are intent of becoming federal states.

It is clearly true that many countries of the EU are doing very badly and it is clearly true that much of their suffering is due to the policies of the EU (well let's say Germany and the 'northern' clique).

It's impossible to say what level of success we would have had if we were not a member of the EU but it's highly likely that house prices in London and the SE would be much lower and housing standards much higher.

antrobus

TickersPlaysPop wrote: »

....2) only small family businesses not able to hide profits and avoid tax....

And today's winner of the Naive Fool Prize is ......:)

Small family businesses are the one's doing all the tax evasion!

TickersPlaysPop wrote: »

...We need to remember the magnitude of these unpaid corporation tax bills.

What unpaid corporation tax bills? If a company doesn't pay its CT bill, HMRC will take enforcement action, including liquidation of the company if necessary.

HAMISH_MCTAVISH

CLAPTON wrote: »

It's impossible to say what level of success we would have had if we were not a member of the EU but it's highly likely that house prices in London and the SE would be much lower and housing standards much higher.

It's also highly likely there would have been adverse consequences.

Many people like to quote countries like Australia, South Korea, or Japan as examples of those outside the EU doing well.

But rarely mention Australia has higher unemployment and house prices than the UK despite having a points based migration system, that Japan has the highest national debt in the World as it battles demographic imbalances caused by an ageing population and low migration, and that the purchasing power parity adjusted income of the average South Korean is some 15% lower than that of the average Brit.

We have done very, very well indeed from our membership of the EU.

It would be madness to leave.

CLAPTON

HAMISH_MCTAVISH wrote: »

It's also highly likely there would have been adverse consequences.

Many people like to quote countries like Australia, South Korea, or Japan as examples of those outside the EU doing well.

But rarely mention Australia has higher unemployment and house prices than the UK despite having a points based migration system, that Japan has the highest national debt in the World as it battles demographic imbalances caused by an ageing population and low migration, and that the purchasing power parity adjusted income of the average South Korean is some 15% lower than that of the average Brit.

We have done very, very well indeed from our membership of the EU.

It would be madness to leave.

neither of us know whether we have done well or could have done better outside

a little more modesty and less certainty would be in order, but you know for certain that many countries in Europe have done very badly from the same system : food for reflection maybe.

I'm not convinced that Japan's high debt has anything to do with the fact it isn't part of a want-to-be federal super state.

I believe that unemployment in many EU countries is far higher than Aus and the standard of living in Greece is below South Korea

Whether or not it is 'madness' to leave the EU, the risks of staying in an unreformed EU are very grave.

I'm unclear about what your point is about Aus house prices and immigration as it seems their immigration per capita is higher than the Uk so proves precisely what?

Generali

HAMISH_MCTAVISH wrote: »

It's also highly likely there would have been adverse consequences.

Many people like to quote countries like Australia, South Korea, or Japan as examples of those outside the EU doing well.

But rarely mention Australia has higher unemployment and house prices than the UK despite having a points based migration system, that Japan has the highest national debt in the World as it battles demographic imbalances caused by an ageing population and low migration, and that the purchasing power parity adjusted income of the average South Korean is some 15% lower than that of the average Brit.

We have done very, very well indeed from our membership of the EU.

It would be madness to leave.

And a higher rate of immigration! If you want to reduce immigration, don't be Australia.

If you want to cut immigration, the best way is to have a lousy economy. On that basis, leaving the EU would definitely cut immigration. Access to and influence within the single market is worth huge sums to the British economy.

CLAPTON

Generali wrote: »

And a higher rate of immigration! If you want to reduce immigration, don't be Australia.

If you want to cut immigration, the best way is to have a lousy economy. On that basis, leaving the EU would definitely cut immigration. Access to and influence within the single market is worth huge sums to the British economy.

is that so?

is immigration to Italy, Greece, Spain etc particularly low?

trade with one's neighbours is surely of great benefit to both parties?

what sort of influence do we have in Europe that makes us huge sums?

and of course, London houses are worth huge sums but is that of value to the people of the region?

Generali

CLAPTON wrote: »

is that so?

is immigration to Italy, Greece, Spain etc particularly low?

trade with one's neighbours is surely of great benefit to both parties?

what sort of influence do we have in Europe that makes us huge sums?

and of course, London houses are worth huge sums but is that of value to the people of the region?

Do you ever make statements?

Or do you just ask a series of questions?

Most of which seem not to be connected.

Or even questions?

If you want to postulate a theory then do so. Just asking a series of questions is boring.

CLAPTON

Generali wrote: »

Do you ever make statements?

Or do you just ask a series of questions?

Most of which seem not to be connected.

Or even questions?

If you want to postulate a theory then do so. Just asking a series of questions is boring.

It would seem that less successful economies of europe attract lots of immigrants, so I postulate that, should UK leave the EU then we will still get lots of people wanting to migrate here.