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Post by sheepy on May 29, 2023 20:40:22 GMT
On the amusing side, I misread the first post, I thought it said don't tax the Rishi.
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Post by zanygame on May 29, 2023 21:16:33 GMT
Yes I am aware that there are countries that offer very favourable tax terms to companies who place their HQ within that jurisdiction. My question is how do you propose to tell a multinational company that is by definition based in multiple nations, where they can base their HQ. For instance how would you tell Amazon where they declare their accounts? Make them declare according their trading figures in Britain. If they disagree, revoke their ability to trade here. That's what I would do. That and remove stupid tax dodges that pay fees to a HQ in a tax haven. |
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Post by Pacifico on May 29, 2023 21:34:13 GMT
Yes I am aware that there are countries that offer very favourable tax terms to companies who place their HQ within that jurisdiction. My question is how do you propose to tell a multinational company that is by definition based in multiple nations, where they can base their HQ. For instance how would you tell Amazon where they declare their accounts? Make them declare according their trading figures in Britain. If they disagree, revoke their ability to trade here. Pretty sure that would be illegal under several international trading agreements we have - not least those companies based in the EU. |
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Post by zanygame on May 30, 2023 6:02:17 GMT
Make them declare according their trading figures in Britain. If they disagree, revoke their ability to trade here. Pretty sure that would be illegal under several international trading agreements we have - not least those companies based in the EU. Agreed. Most trade agreements allow companies to declare profits in their country of origin. If that country of origin then allows profits to be declared in the Virgin Islands there is nothing we can do about it. |
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Post by sheepy on May 30, 2023 6:53:08 GMT
Make them declare according their trading figures in Britain. If they disagree, revoke their ability to trade here. That's what I would do. That and remove stupid tax dodges that pay fees to a HQ in a tax haven. How do you mean pay fees? Do you mean one company say registered in the UK pay billions to the same company they own in say the Virgin Islands as a legitimate payment where it is taxed at zero? Which International trade agreement has that written in it? |
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Post by Orac on May 30, 2023 7:02:30 GMT
imho the 'problem' is caused by taxing profits rather than something more rational.
Redistributive blinders are cornering us
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Post by sheepy on May 30, 2023 7:17:36 GMT
imho the 'problem' is caused by taxing profits rather than something more rational. Redistributive blinders are cornering us As though the plebs could get their head around any of it, or are even meant too. While the best their so called leaders who want their vote can come up with is tax themselves more for the greater good. |
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Post by Orac on May 30, 2023 7:33:08 GMT
imho the 'problem' is caused by taxing profits rather than something more rational. Redistributive blinders are cornering us As though the plebs could get their head around any of it, or are even meant too. While the best their so called leaders who want their vote can come up with is tax themselves more for the greater good. Yes - the electorate is encouraged to argue among themselves about hard they should stab themselves in the goolies. |
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Post by johnofgwent on May 30, 2023 11:02:47 GMT
Ok so we hear a lot of BS mainly from celebs and woke shitheads saying if such and such happens i’m outa here
It’s worth pointing out some of the z list (who’s that bloody woman Jasmine Alibi Not Needed I’m black so i’m untouchable) were taken to task for saying this and NOT going - she denied ever saying it in spite of records of her doing so
BUT
The intended targets of this have no such double standard. They won’t bluster, they’ll just GO
I remember Maggie Thatcher dropping the highest rate of Income Tax from Dennis Healey’s 98% including the special punitive 15(?)% on ‘unearned income’ labour’s vitrolic way of referring to share dividends paid in regard to funds invested in companies for the long haul - to 40%
In those days there was no cyberspace but there were plenty of phone in programs and within seconds of that announcement the panel told a tax exile it was pointless remaining an xile you might as well come home.
Some didn’t of course. Some like my uncle had taken Healey’s antics personally, chucked his job with a british flagged merchant navy fleet operator and signed up with the saudi’s and never paid a penny in tax again ever. His wife had a job as a model for the sort of fashion magazine you keep the clothes ON for. And no bloody silicone and botox in those days. So his family lived without him for about nine months of the year - same as Moira and the girls when i was freelancing - but he lived the life of an arab sheik playboy with them out of the uk for the other three …
But from those days and what happenned as a result of the drop to 40% i am absolutely certain the vast msjority would simply fuck off
Maybe that would be good. London house prices would tank to values in reach of Londoners again for a start.
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Post by johnofgwent on May 30, 2023 11:06:59 GMT
Make them declare according their trading figures in Britain. If they disagree, revoke their ability to trade here. Pretty sure that would be illegal under several international trading agreements we have - not least those companies based in the EU. well hang on that’s partly what we do already isn’t it. The international trading agreements you mention didn’t stop talk of general anti avoidance measures to implement this very thing. If course some companies and some countries are just plain crooked but short of nuking their connections to the money tree theres not much we can do about them … |
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Post by see2 on May 30, 2023 11:43:20 GMT
Ok so we hear a lot of BS mainly from celebs and woke shitheads saying if such and such happens i’m outa here It’s worth pointing out some of the z list (who’s that bloody woman Jasmine Alibi Not Needed I’m black so i’m untouchable) were taken to task for saying this and NOT going - she denied ever saying it in spite of records of her doing so BUT The intended targets of this have no such double standard. They won’t bluster, they’ll just GO I remember Maggie Thatcher dropping the highest rate of Income Tax from Dennis Healey’s 98% including the special punitive 15(?)% on ‘unearned income’ labour’s vitrolic way of referring to share dividends paid in regard to funds invested in companies for the long haul - to 40% In those days there was no cyberspace but there were plenty of phone in programs and within seconds of that announcement the panel told a tax exile it was pointless remaining an xile you might as well come home. Some didn’t of course. Some like my uncle had taken Healey’s antics personally, chucked his job with a british flagged merchant navy fleet operator and signed up with the saudi’s and never paid a penny in tax again ever. His wife had a job as a model for the sort of fashion magazine you keep the clothes ON for. And no bloody silicone and botox in those days. So his family lived without him for about nine months of the year - same as Moira and the girls when i was freelancing - but he lived the life of an arab sheik playboy with them out of the uk for the other three … But from those days and what happenned as a result of the drop to 40% i am absolutely certain the vast msjority would simply fuck off Maybe that would be good. London house prices would tank to values in reach of Londoners again for a start. They were desperate times, which were IMO mostly down the Tory maladministration, the so called Captains of Industry and the people with the real power and wealth in the country. |
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Post by Deleted on May 30, 2023 11:52:10 GMT
I think we should be moving to tax both land and excessive property values. The rich might be able to move themselves, their company HQs or their money offshore. But they cannot physically relocate any of the land they own here nor their UK property portfolios. A land value tax is the way to go.
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Post by johnofgwent on May 30, 2023 13:34:01 GMT
I think we should be moving to tax both land and excessive property values. The rich might be able to move themselves, their company HQs or their money offshore. But they cannot physically relocate any of the land they own here nor their UK property portfolios. A land value tax is the way to go. Well, good luck with that. You do realise under Healey the people targetted sold up lock stock and barrel and left don’t you. All you will do is cause negative equity in the ranks below those you seek to capture. |
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Post by patman post on May 30, 2023 13:34:39 GMT
I think we should be moving to tax both land and excessive property values. The rich might be able to move themselves, their company HQs or their money offshore. But they cannot physically relocate any of the land they own here nor their UK property portfolios. A land value tax is the way to go. If companies lease or rent land and buildings they occupy and do business from, who pays what tax?
Corporations will go to where it's best for their bottom line. Countries and states will adjust their company law and tax rules to attract business and generating income.
For instance, there are reasons why over 65% of Fortune 500 companies and over half of all US publicly traded companies are incorporated in Delaware — friendly company law and tax regime...
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Post by Deleted on May 30, 2023 14:26:46 GMT
I think we should be moving to tax both land and excessive property values. The rich might be able to move themselves, their company HQs or their money offshore. But they cannot physically relocate any of the land they own here nor their UK property portfolios. A land value tax is the way to go. Well, good luck with that. You do realise under Healey the people targetted sold up lock stock and barrel and left don’t you. All you will do is cause negative equity in the ranks below those you seek to capture. I am proposing a land value tax. I am not proposing it being set at anything remotely resembling the extortionate levels you are hinting at by mention of Healey. A land value tax set at a modest level (and I am thinking low single figures in percentage terms) would raise significant sums, probably much more than more easily avoidable taxes on direct wealth. And I don't care if wealthy property owners sell up, as this would greatly decrease the upward pressure on property and land values, for which such a corrective is needed. We need to encourage more productive investments than those in land and property anyway, which achieves little but enriching the already rich at the expense of productive workers. The necessary corrective to the property price bubble is inevitably going to have to include falls in property prices and rents driven by increased supply anyway. So a period of negative equity is going to be unavoidable, the consequence of not dealing with the housing crisis sooner. The longer we delay this the worse the crisis will get and the more painful the correction when it occurs. |
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