Tax details published, what is to hide?

[L00b]

"Jim Harra, HMRC’s business tax director general, insisted Google had agreed to pay all the money due."

 

It covers 10 years worth of back taxes.

Only after HMRC managed to turn Google's tax avoidance scheme into a tax evasion scheme, presumably?

 

After all, all we the public have to go by for now, is this:

The UK's tax authorities (HMRC) has not said how it calculated Google's tax liability "for reasons of confidentiality.

 

However, HMRC has agreed Google's tax affairs are legal, which implies that it sees nothing wrong with the current arrangement.

(link)

 

Make no mistake, EC: it is goodwill, from Google to Cameron/Osbourne for helping them ride the PR rough seas.

 

In the backgroumd, the Gvt is still batting to protect Google's £30bn's worth of business in black-hole-Bermuda just fine. And quietly, of course.

 

Given this context, Cameron's "red flag to new EU legislation" wrestled from Brussels and announced today might help the penny drop a bit

Edited February 2, 2016 by L00b

[Berberis]

The only similarity is that both are currently private information, there is no other link, so I'm not sure how you see them as analogous.

 

Spot on, you have identified the similarity, which is exactly my point. Both are legally private information and you or I have no rights to either pieces of information for anyone. Until this changes you effectively doing nothing, and you are doing a half assed job at that.

Edited February 2, 2016 by Berberis

[Eddie_shef]

While we are on this, let's not forget that it was Swedes who supported Pol pot and delayed international intervention to stop him continuing genocide in Cambodia.

 

That's another example of poor decision making.

[Orzel]

Or on sales you say. Hey, maybe we can call that one, Value Added Tax?

 

VAT applies only to sales made to not VAT registered individuals or small companies.

It does not apply to B2B sector.

[foxy lady]

No this nonsense has had no influence on Google's decision to make their goodwill gesture .

 

The common sense thing for any UK Government to do, would be to introduce a Jonny Foreigner Tax (JFT) based on sales or money earned in the UK for all overseas based companies . One or Two percent JFT would be a nice little earner for the UK taxman and could easily be collected at the same time VAT returns are made .

 

So how would such a tax apply to Tata Steel who are Indian owned, losing millions and laying off staff?

 

---------- Post added 03-02-2016 at 13:09 ----------

 

Or on sales you say. Hey, maybe we can call that one, Value Added Tax?

 

 

Actually Value Added Tax isn't a tax on sales. As the name suggests it is a tax on value added and not paid by all companies. I know of several companies with high value turnover who regularly claim back more VAT than they pay.

Edited February 3, 2016 by foxy lady

[Orzel]

So how would such a tax apply to Tata Steel who are Indian owned, losing millions and laying off staff?

In that case you could carry forward negative tax liability and take it from future earnings.

[foxy lady]

In that case you could carry forward negative tax liability and take it from future earnings.

 

So taxing profits like they do now you mean?

[Orzel]

So taxing profits like they do now you mean?

I never said sales tax makes sense, I am just trying to make some sense out of it.

Maybe not paying liable sales tax more then CT, so less profit - less sales tax.

Remaining liability carried forward?

That would continue until company makes enough profits to pay off past sales tax liability or it leads to insolvency.

This way sales tax would not apply to companies loosing money and apply to those having profits.

If you hide profits you get insolvent.

[Gamston]

So how would such a tax apply to Tata Steel who are Indian owned, losing millions and laying off staff?

 

Manufacturing industries would be exempt It's the retail and service sector where the likes of Amazon , Google and Starbucks, who have used the Global economy to their advantage to minimise tax payments which is the real issue .

[Orzel]

How do you define manufacturing?

Starbucks manufactures cups full of coffee out of raw materials.

Tata steel manufactures steel out of ore.