AstraZeneca Paying No UK Corporation a Tax

[AtW]

Poor reporting yet again. Global profits of £4.5 billion, but their Dutch sandwich only generates a tax-deductible interest payment of £140m? Sensationalised for the masses.

If UK division is not profitable for them, then why are they keeping it???

[PurpleGorilla]

AstraZeneca Paying No UK Corporation a Tax



http://www.ft.com/cms/s/0/46aa42bc-b...#axzz3nhTe9d3s

[Zero Liability]

Get the pitchforks out.

[Gibbon]

Rolls-Royce has a huge presence in the UK. They directly employ over 21,300 people, and through their supply chains and employee spending support around 106,000 people. That accounts for about one in every 300 UK jobs.

So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?

[AtW]

So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?

No.

Personally I think UK companies should have deduction from corporation tax due made from other taxes they generate - employer NICs, employee income tax/NICs, business rates etc - all that should be taken into account before charging corporation tax on profits.

[PurpleGorilla]

Rolls-Royce has a huge presence in the UK. They directly employ over 21,300 people, and through their supply chains and employee spending support around 106,000 people. That accounts for about one in every 300 UK jobs.

So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?

On £1.6bn of revenue, IMHO they should be paying more than £0.00 in corporation tax.

Otherwise, what is the point of Corp Tax? To scr€w small business?

[VectraMan]

On £1.6bn of revenue, IMHO they should be paying more than £0.00 in corporation tax.

Otherwise, what is the point of Corp Tax? To scr€w small business?

Corporation tax is paid on profit, not on revenue. There's a simple calculation for working it out that doesn't rely on your opinion.

[_V_]

Corporation tax is paid on profit, not on revenue. There's a simple calculation for working it out that doesn't rely on your opinion.

Which leads to the Big Co with a UK revenue of £10bn, but buys a paper clip from it's office in the Cayman islands, for £2bn, wiping out the profit. UK tax paid zero.

Of course there is the corp tax to pay on the paper clip, which is charged at the Cayman island rate of 0%.

So that is all okay then?

[PurpleGorilla]

Which leads to the Big Co with a UK revenue of £10bn, but buys a paper clip from it's office in the Cayman islands, for £2bn, wiping out the profit. UK tax paid zero.

Of course there is the corp tax to pay on the paper clip, which is charged at the Cayman island rate of 0%.

So that is all okay then?

And the clever chap who came up with that will get a tasty bonus. Just like the team at Volkswagen who coded the emissions test subroutine.

[AtW]

And the clever chap who came up with that will get a tasty bonus. Just like the team at Volkswagen who coded the emissions test subroutine.

Chances are that both will be "retired"...

suity should run while he can...