Death by a thousand cuts

[meridian]

https://www.bbc.co.uk/news/amp/business-45351288?

Panasonic will move its European headquarters from the UK to Amsterdam in October as Brexit approaches.

The aim is to avoid potential tax issues linked to the UK's decision to leave the EU, said Panasonic Europe's chief executive Laurent Abadie.

Japan is a major investor in the UK, where more than 800 Japanese companies employ more than 100,000 people.

However, financial firms including Nomura, Sumitomo Mitsui and Daiwa have already said they will no longer maintain their EU headquarters in London.

Small numbers job-wise, a little larger in terms of tax previously paid to the U.K. Treasury that will now go elsewhere.

Slowly, though, the lustre of Britain’s reputation as an international financial centre is tarnishing.

Global Britain.

[Mordac]

https://www.bbc.co.uk/news/amp/business-45351288?





Small numbers job-wise, a little larger in terms of tax previously paid to the U.K. Treasury that will now go elsewhere.

Slowly, though, the lustre of Britain’s reputation as an international financial centre is tarnishing.

Global Britain.

Probably has more to do with the looming Corbyn govt, which will almost certainly put corp tax (and every other kind of tax) up to the point where everyone who can leave, will leave.

[meridian]

Probably has more to do with the looming Corbyn govt, which will almost certainly put corp tax (and every other kind of tax) up to the point where everyone who can leave, will leave.

That’s odd, the reason they cited was the exact opposite - Britain being turned into a tax haven with lower corporate taxes.

[AtW]

Probably has more to do with the looming Corbyn govt

Brexit is what will leads to Korbyn's rule for the next millenia...

[Mordac]

That’s odd, the reason they cited was the exact opposite - Britain being turned into a tax haven with lower corporate taxes.

That's more than odd - it's perverse. Unless they genuinely think being based in a low-tax UK would somehow be a barrier to their doing business in the EU. The EU can't seem to legislate on low-tax regimes inside the Union, so quite how they are going to do so on those outside is something of a mystery.

[Mordac]

Brexit is what will leads to Korbyn's rule for the next millenia...

Sorry to piss on your parade but he's so old he probably won't see out the next decade...

[meridian]

That's more than odd - it's perverse. Unless they genuinely think being based in a low-tax UK would somehow be a barrier to their doing business in the EU.

It’s hard to find much substance in the news about their exact reasons. There’s this from the FT:

Tax-related concerns in the event of a no-deal Brexit could include potentially greater liabilities for a UK-headquartered Japanese company as it received the dividends from its European operations.

Presumably their bean counters have assessed the risks and modelled the projections and come to a conclusion that it is cost efficient and more risk averse to move now rather than wait and see.

The EU can't seem to legislate on low-tax regimes inside the Union, so quite how they are going to do so on those outside is something of a mystery.

Not quite true, there is this which comes into effect on 1 Jan 2019. Some say it’s one of the drivers for the Rees-Moggs, Banks’, etc....

https://ec.europa.eu/taxation_custom...e-directive_en

Your point though is a valid one when comparing current rates with, for example, Ireland.

[AtW]

Sorry to piss on your parade but he's so old he probably won't see out the next decade...

His taxes will endure though because Tory Scum are only happy to take extra cash and blame Labour.

[DimPrawn]

If they think they are better of in the EU, then so be it.

You remoaners really don't get it do you, people didn't vote leave to keep some obscure Japanese HQ employing 100 people here, they voted because they don't believe the EU has Britain's best interests as one of its aims.

Oh, and we're leaving so probably time to move on and give up this Brexit related depressive mental illness.

HTH BIDI

[shaunbhoy]

If they think they are better of in the EU, then so be it.

You remoaners really don't get it do you, people didn't vote leave to keep some obscure Japanese HQ employing 100 people here, they voted because they don't believe the EU has Britain's best interests as one of its aims.

Oh, and we're leaving so probably time to move on and give up this Brexit related depressive mental illness.

HTH BIDI

Exactly. Now as a Brexiteer, had the vote been in favour of Remain then I would just have got on with it as it would quite patently have been the democratic will of the people.
Contrast that with the all-pervading whining of the Bremoaners (most of whom on here have long since ditched actually living, working, and paying taxes here incidentally!) who seem to want nothing more than the worst possible outcome for the country at large.

Bunch of petulant churlish children that ought to be, and thankfully largely are, completely ignored.