|
|
| Author |
Message |
| Vincent |
This post is not being displayed because the poster is banned. Unhide this post / all posts.
|
Vincent
Banned
Joined: 16 Oct 2006
Karma :  
|
 Posted: 12:35 - 12 Oct 2015  Post subject: Facebook Pay A Measly £4K Corporation Tax On Massive Profits |
 |
|
"Facebook's UK corporation tax bill was less than the tax the average UK employee paid on their salary".
"Total profits for the year were $2.9bn, almost double its profit for 2013".
https://www.bbc.co.uk/news/business-34504474
____________________
Space Is Deep |
|
| Back to top |
   |
You must be logged in to rate posts |
|
 |
| Hetzer |
This post is not being displayed .
|
Hetzer
Super Spammer
Joined: 19 Feb 2007
Karma :  
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| WD Forte |
This post is not being displayed .
|
WD Forte
World Chat Champion
Joined: 17 Jun 2010
Karma : 
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| iooi |
This post is not being displayed .
|
iooi
Super Spammer
Joined: 14 Jan 2007
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| James83 |
This post is not being displayed .
|
James83
Crazy Courier
Joined: 10 Apr 2013
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| Vincent |
This post is not being displayed because the poster is banned. Unhide this post / all posts.
|
Vincent
Banned
Joined: 16 Oct 2006
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| Vincent |
This post is not being displayed because the poster is banned. Unhide this post / all posts.
|
Vincent
Banned
Joined: 16 Oct 2006
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma : 
|
Posted: 14:07 - 12 Oct 2015  Post subject: |
|
|
| Hetzer wrote: | Ssh, you'll be accused of being a socialist for pointing out stuff like that. |
Oh FFS! Not this left wing cobblers again..
How do you expect Cameron and his mates to extract more tax from an Irish registered company? All the time we are in the EU, there's not a lot we can do. It's called the EU free trade agreement.
If you want to know how the "Double Irish" works and how it's being brought to a close after pressure from the US and EU, rather than just spouting the usual Socialist Anti Tory propaganda, have a read...
| Quote: | Ireland has dropped its lucrative tax scheme that helped multinationals like Apple and Amazon to pay lower taxes and save billions. The EU and the US have been increasing pressure to bring taxable income back home. The tax code change announced by Ireland’s Finance Minister Michael Noonan Tuesday means that all Irish registered companies will be obliged to be tax resident in the country.
The so-called ‘Double Irish’ scheme that’s now being abandoned allowed a multinational to send untaxed profits to an Irish subsidiary, that then paid the money to another Irish registered company that is a tax resident of a some tax haven – most often Bermuda.
This scheme was often coupled with a relevant tax trick known as a ‘Dutch Sandwich’, which uses a structure based exclusively in the Netherlands to avoid some taxes. The changes announced Tuesday are Ireland’s biggest tax reform since the country cut the corporate tax rate to 12.5 percent in the late 1990s when it sought to attract more jobs. It remained untouched in the 2015 budget, the first since Ireland withdrew from the EU-led austerity program. Mr. Noonan said that for new companies the law will come into effect on January 1, 2015, while existing companies will have a transition period until the end of 2020.
"This proactive change will not bring an end to international tax planning. We are giving certainty to investors about corporate tax in Ireland for the next decade," he said.
Such tax schemes in Ireland helped the country add around 160,000 new jobs that were created by some 1,000 international firms that came to Ireland to benefit from its tax regime. Unlike most of Europe, Ireland is expected to grow 5 percent in 2014 and 2015. In December, Ireland became the first country to leave the IMF bailout program and it can now borrow money for 10 years at 1.7 percent.
"These measures [Tuesday changes - Ed.] will enhance Ireland’s corporate tax regime and align it with best practice internationally. It will ensure that Ireland continues to be the home of the best and most successful companies in the world. It will attract and retain companies with real substance offering real jobs,"Mr. Noonan said.
The EU and the US have been increasingly pressing Dublin to put a plug in the tax loophole, as it meant billions of lost revenue from such huge multinationals as Facebook, Amazon, Apple, Starbucks and carmaker Fiat’s financial arm.
Most recently, officials from the European Commission demanded that Luxembourg hand over documents relating to online retailer Amazon’s tax affairs.
The US loses up to £56 billion a year through companies that use Irish tax structures to legally protect their money.
The latest Amazon EU Sarl financial report showed the Luxembourg structure helped the company cut its overall tax rate by 8 percent to 31.8 percent. Apple also managed to apply a corporate tax rate of just 2 percent, as a US Senate committee claimed. |
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG.
Last edited by - on 14:17 - 12 Oct 2015; edited 5 times in total |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
Posted: 14:11 - 12 Oct 2015  Post subject: |
|
|
| Vincent wrote: | | James83 wrote: | Why does this keep going round and round? |
Because governments are in cahoots with these crooks and are being paid off to leave them alone. In the meantime, starting with the poorest in society, ordinary people are expected to make up the shortfall. |
Take the tin foil hat off and read what I just posted, you may be surprised to hear that this loophole was put in by the Irish and there is little Cameron and his Tory toffs can do about it, even if they want to. Unless of course, we leave the EU and don't have to go by their free trade rules.
A lot of these IT corporates supplying the UK, including Facebook are registered in Ireland. My Google Adwords invoices come from Google Ireland. The cheeky buggers even claim reverse VAT back on each invoice.
To blame this on the Tories is naïve and incorrect.
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| Vincent |
This post is not being displayed because the poster is banned. Unhide this post / all posts.
|
Vincent
Banned
Joined: 16 Oct 2006
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| bladeblaster |
This post is not being displayed .
|
bladeblaster
Trackday Trickster
Joined: 19 Jan 2015
Karma : 
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 14:20 - 12 Oct 2015 Post subject: |
|
|
| Vincent wrote: |
I have to confess that I very rarely read anything you post  |
Just try the bit in bold before jumping on the left wing propaganda wagon. This is nothing to do with rich Tories in cahoots with Corporate Multinationals. It may sound like great propaganda for naïve lefties, but it's just often spouted cobblers.
| Quote: | The EU and the US have been increasingly pressing Dublin to put a plug in the tax loophole, as it meant billions of lost revenue from such huge multinationals as Facebook, Amazon, Apple, Starbucks and carmaker Fiat’s financial arm. |
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| RedPanda |
This post is not being displayed .
|
RedPanda
Could Be A Chat Bot
Joined: 07 Oct 2014
Karma : 
|
|
| Back to top |
 |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
| Posted: 14:28 - 12 Oct 2015 Post subject: |
|
|
| RedPanda wrote: |
I don’t think it’s anti-Tory, more anti-government. Amazon and co were doing it before Cameron came into power in 2010, the frustration is that we have budget cuts and what-not whilst Facebook, Google etc continue to take the piss.
I don’t know what, if anything can be done to reclaim billions long term but the whole thing stinks. I don’t think it’s unfair of anyone to criticise the situation or avoid these companies (if possible). |
How do you suggest the government extract more tax from an Irish company registered in Ireland and pretenting to operate from Ireland, whilst staying within EU free trade law then? This is the whole point. All the time we are in the EU and Ireland allowed the "Double Irish" tax loophole to exist, there is nothing the UK government can do about it. It will come to an end eventually now Dublin has closed the loophole after US and EU pressure. It'll be the "Dutch Sandwich" loophole they use next.
This incorrect idea that the government are letting these corporates off is often brought up to beat a stick at the government. Where in reality, it's just that most people don't really understand who enabled this loophole and that its' out of the governments control.
____________________
TZR250 2MA road, TZR250 1KT road, TZR250 2MA race, TDR250, YZF-750R Boost colours.
Jaguar S Type 3.0 V6 Sport R, VW Transporter T5 GP LWB Shuttle 140ps DSG. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| James83 |
This post is not being displayed .
|
James83
Crazy Courier
Joined: 10 Apr 2013
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| zark |
This post is not being displayed .
|
zark
Trackday Trickster
Joined: 18 Dec 2013
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| RedPanda |
This post is not being displayed .
|
RedPanda
Could Be A Chat Bot
Joined: 07 Oct 2014
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| MCN |
This post is not being displayed .
|
MCN
Super Spammer
Joined: 22 Jul 2015
Karma : 
|
| Posted: 14:57 - 12 Oct 2015 Post subject: |
|
|
For later in case anyone get hungry.
____________________
Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| - |
This post is not being displayed because the poster has bad karma. Unhide this post / all posts.
|
-
Super Spammer
Joined: 22 Oct 2013
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| bladeblaster |
This post is not being displayed .
|
bladeblaster
Trackday Trickster
Joined: 19 Jan 2015
Karma :
|
| Posted: 16:11 - 12 Oct 2015 Post subject: |
|
|
| RedPanda wrote: |
I know it’s a loop hole and change is improbable. If people want to be annoyed or avoid Starbuck’s though, then they have that right. That’s why this is news. I don’t think anyone can call this situation favourable, unless you work (high up) for Facebook or Vodafone. |
Or if you are employed by them, have shares in them, or are a customer of theirs.
IF Vodaphone, for example, were slapped with a huge tax bill who do you think would end up paying for it?
I don't understand why people get annoyed about companies doing everything within their powers to keep their overheads to a minimum and make the most profit possible. Surely that is the purpose of a business, they aren't doing it for love.
The more money they make, the bigger / stronger the company, the cheaper their prices, the more people they employ. All of those things are good for the economy, possibly more lucrative in the long run than charging them the extra tax. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| RedPanda |
This post is not being displayed .
|
RedPanda
Could Be A Chat Bot
Joined: 07 Oct 2014
Karma :
|
| Posted: 16:33 - 12 Oct 2015 Post subject: |
|
|
| bladeblaster wrote: | Or if you are employed by them, have shares in them, or are a customer of theirs. |
Really? Ask someone in an Amazon warehouse or on minimum wage at Starbuck’s. And I don’t see how customers can be happy – that’s why Starbuck’s profits were hit whilst Costa benefitted.
| Quote: | IF Vodaphone, for example, were slapped with a huge tax bill who do you think would end up paying for it?
I don't understand why people get annoyed about companies doing everything within their powers to keep their overheads to a minimum and make the most profit possible. Surely that is the purpose of a business, they aren't doing it for love.
The more money they make, the bigger / stronger the company, the cheaper their prices, the more people they employ. All of those things are good for the economy, possibly more lucrative in the long run than charging them the extra tax. |
Yes they’re not charities but given the option you’d rather choose Vodafone over O2 or whoever because they have more intelligent/greedy people working high up? Prices don’t then lower - iPhones cost more than anything, Google rip off everyone with advertising, etc. They are companies rather than charities, remember. If it was a positive then things wouldn’t be changing, as mentioned by others above.
____________________
CBF125 (2013) -> CBR600F (2001) -> 'Ninja' 300 (2014) |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| bladeblaster |
This post is not being displayed .
|
bladeblaster
Trackday Trickster
Joined: 19 Jan 2015
Karma :
|
| Posted: 16:50 - 12 Oct 2015 Post subject: |
|
|
| RedPanda wrote: |
Really? Ask someone in an Amazon warehouse or on minimum wage at Starbuck’s. And I don’t see how customers can be happy – that’s why Starbuck’s profits were hit whilst Costa benefitted.
|
Ask the guy in the warehouse if he would prefer to not have a job, because they had to downsize to pay the tax bill.
So Starbucks paying more tax would make what difference to the guy behind the counter earning minimum wage?
People are fickle, Pepsi lost a huge market share because they changed their can design.
| RedPanda wrote: |
Yes they’re not charities but given the option you’d rather choose Vodafone over O2 or whoever because they have more intelligent/greedy people working high up? Prices don’t then lower - iPhones cost more than anything, Google rip off everyone with advertising, etc. They are companies rather than charities, remember. If it was a positive then things wouldn’t be changing, as mentioned by others above. |
I would chose whoever had the best deal for me, I couldn't care less how much profit they make or how much tax they pay.
Google rip everyone off? Google maps is probably the single most useful thing on the internet, and its free. How is Google ripping me off?
Governments are doing something about it, not because its negative or positive, but because its popular with voters. All of the money gets taxed eventually one way or another, if they make more profit they get a bigger bonus, which is taxed, they spend more money, which is taxed, they save more money, which is taxed, they die and leave someone a shit load of money, which is taxed. How & when it gets taxed is kind of irrelevant.
Do you think that once this loophole, or all loopholes are closed, suddenly we will live if a utopia of new hospitals, and the minimum wage is £40k a year because the government has more money than it knows what to do with?
Or is it just because it's 'unfair'? Who says anything should be fair, and fair is certainly a matter of perspective. What would seem fair to you, may seem very unfair to someone else.
At the end of the day its easy money for newspapers, because the headlines are bound to get a reaction. When at the end of the day, to you and me, and the average Joe it would make no tangible difference one way or another. |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| Ste |
This post is not being displayed .
|
Ste
Not Work Safe
Joined: 01 Sep 2002
Karma :
|
Posted: 17:36 - 12 Oct 2015  Post subject: |
|
|
"Facebook's UK corporation tax bill was less than the tax the average UK employee paid on their salary"
A nice advert for their accountants. 
How much is an individual or company allowed to make before their taking advantage of loop holes stops being socially acceptable? |
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| iooi |
This post is not being displayed .
|
iooi
Super Spammer
Joined: 14 Jan 2007
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
|
| Hetzer |
This post is not being displayed .
|
Hetzer
Super Spammer
Joined: 19 Feb 2007
Karma :
|
|
| Back to top |
| |
You must be logged in to rate posts |
|
 |
Old Thread Alert!
The last post was made 10 years, 273 days ago. Instead of replying here, would creating a new thread be more useful? |
 |
|
|
Help & FAQs
Search BCF
Members
Groups
Events Calendar
rating
rating