Swiss company INEOS rips off UK,wages war against its UK employees

[Waldo]

OK,this is where i am going wrong,I'm thinking that this business should be paying taxes to the UK,like millions of other people and businesses do,obviously,some businesses can get away without allegedly paying any tax for 5 years to the UK........let's hope that they can pick up the UK taxpayers money they are lobbying for.

 

No, where you are going wrong is your expectation that companies act according to your ideals of fairness, which doesn't seem to include them trying to (legally) minimise their tax liability.

 

The fault is with the government for having a tax system that allows companies to do this kind of thing.

[chalga]

No, where you are going wrong is your expectation that companies act according to your ideals of fairness, which doesn't seem to include them trying to (legally) minimise their tax liability.

 

The fault is with the government for having a tax system that allows companies to do this kind of thing.

 

I might have more sympathy for companies who are acting ,quite legally.over tax,but then when unions,quite legally,try to defend their interests,said company takes its ball home and in effect says 'there's no problem with us doing what millions of taxpayers think is morally wrong,but there is a problem when what many trade unionists and others think is morally right is affecting us'

[T 42]

Nobody can find evidence that INEOS has paid UK tax since 2008,so in case of disaster,the VAT paid by the staff was going to pay for the fire brigade,the staff that they locked out and laid off.

 

What utter tosh. You need to get your story and facts straight before you carry on libeling a big corporation. There wasn't much point moving the company headquarters to Lausanne "IN ORDER TO SAVE £506 million TAX" if they weren't paying UK tax.

 

INEOS operates in 17 different countries and did base itself in the UK and pay the bulk of its corporation tax here. However they were driven out of the country by Grasping Gordon.

 

However the company continued to pay business rates here, and all its UK directors, managers and workers paid income tax here. The company also paid VAT here.

 

It has probably escaped your notice that Grangemouth has operated at a loss for more than 5 years. So whilst INEOS may well make a considerable profit it doesn't make that profit here. Did you know that the amount of corporation tax on a £50 million loss is zero? What a pity the holding company is no longer UK based as they would have been due to pay tax on company profit. But as the profit from the 16 other nations is declared in Switzerland there is no tax due here.

[tinfoilhat]

Can somebody explain to me how a company which refines oil for half the country is going bust?

[T 42]

Can somebody explain to me how a company which refines oil for half the country is going bust?

 

That's quite simple. Only part of the Grangemouth site is an oil refinery. The rest is a chemical production facility. The site in inefficient and the workforce overpaid. However the main problem is a huge hole in a final salary pension fund that the company cannot afford and the union won't renegotiate. This has been ongoing since 2008.

 

So the activities at Grangemouth can be better done elsewhere for lower cost. Which it seems is going to happen.

 

It is rather ironic that the workforce now seems to pin its hopes on Alex Salmond finding a buyer for the chemical plant. I'm guessing anyone who might consider taking on a loss making business might want to sort out the reasons for those losses before it takes on the business. ie the pension fund which is what the dispute was about in the first place.

[chalga]

What utter tosh. You need to get your story and facts straight before you carry on libeling a big corporation. There wasn't much point moving the company headquarters to Lausanne "IN ORDER TO SAVE £506 million TAX" if they weren't paying UK tax.

 

 

http://www.unitetheunion.org/news/secretive-finances-and-a-retreat-to-tax-havens-can-ineos-be-trusted/

 

I am not the one who is doing any libeling.........tax experts might be doing that,as well as all the publications that are carrying the story and the allegations.........like the one from the link above.

 

QUOTE:

 

Ineos, the company accused of holding Scotland to ransom, must now answer questions over its corporation tax arrangements after an analysis of the company's accounts by tax experts could not find any evidence that the group has paid tax in the UK since 2008.

 

QUOTE:

 

An investigation by respected accounting expert Richard Murphy has found that the company’s public statements do not necessarily match the reality of an opaque and secretive accounting regime.

 

QUOTE:

 

Ineos relocated from Britain to Switzerland in 2010 and by setting up home in this well-known tax haven cost the British tax-payer millions in lost revenue. There is no evidence that Ineos has paid any tax in Britain since 2008 – despite generating billions from its British facilities.

 

 

QUOTE:

 

But Unite believes the plant is still profitable and has questioned the company’s figures. It has written to HM Revenue and Customs asking it to investigate whether a re-organisation of the company, which resulted in it moving its headquarters to Switzerland, has obscured Grangemouth’s true profitability.

[eckerslike]

http://www.unitetheunion.org/news/secretive-finances-and-a-retreat-to-tax-havens-can-ineos-be-trusted/

 

I am not the one who is doing any libeling.........tax experts might be doing that,as well as all the publications that are carrying the story and the allegations.........like the one from the link above.

 

QUOTE:

 

Ineos, the company accused of holding Scotland to ransom, must now answer questions over its corporation tax arrangements after an analysis of the company's accounts by tax experts could not find any evidence that the group has paid tax in the UK since 2008.

 

QUOTE:

 

An investigation by respected accounting expert Richard Murphy has found that the company’s public statements do not necessarily match the reality of an opaque and secretive accounting regime.

 

QUOTE:

 

Ineos relocated from Britain to Switzerland in 2010 and by setting up home in this well-known tax haven cost the British tax-payer millions in lost revenue. There is no evidence that Ineos has paid any tax in Britain since 2008 – despite generating billions from its British facilities.

 

 

QUOTE:

 

But Unite believes the plant is still profitable and has questioned the company’s figures. It has written to HM Revenue and Customs asking it to investigate whether a re-organisation of the company, which resulted in it moving its headquarters to Switzerland, has obscured Grangemouth’s true profitability.

 

Unite say...:hihi::hihi::hihi:

 

I don't want to upset your rant but there are a couple of things you should know. The Grangemouth site is operating at a loss. If you make a loss there is no tax to pay. This is similar to income tax. If you don't earn anything you don't pay income tax. Simples.

[chalga]

Unite say...:hihi::hihi::hihi:

 

I don't want to upset your rant but there are a couple of things you should know. The Grangemouth site is operating at a loss. If you make a loss there is no tax to pay. This is similar to income tax. If you don't earn anything you don't pay income tax. Simples.

 

Best tell UNITE then.......it's them who have written to HMRC asking them to investigate the [non]profitability of INEOS............because they don't believe INEOS,and what they are saying about it making a loss there.............Simples.

[geared]

You tried telling Unite anything before? They don't seem like the type to listen.

 

Maybe if they did these people would still be in a job, and there would be the possibility of further negotiation at a later point.

[eckerslike]

Best tell UNITE then.......it's them who have written to HMRC asking them to investigate the [non]profitability of INEOS............because they don't believe INEOS,and what they are saying about it making a loss there.............Simples.

 

That would be a bit like telling Arthur Scargill that the Coal Industry couldn't afford to keep digging coal that no one could afford to buy. But what do you expect the idiots leading INEOS to do, go out and tell the members that the stupidity of their leadership has cost them all their jobs? I know best kick up a smoke screen about taxes.