Originally posted by Spacecadet
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Amazon Corporation Tax
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Originally posted by fullyautomatix View PostSo they are exploiting a loophole then.
If the UK government wants to, it can easily crack down on this sort of thing.
Easy thing to sort out, if you have UK sales of a billion quid and you pay a nominal amount in corp tax, examine the records and impose a heavy fine on them which is equivalent to the tax they avoided plus a big interest.
The only way to stop it is for all nations to have braodly similar corp tax rates, but that will never happen.Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.
I preferred version 1!Comment
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Originally posted by proggy View PostFirstly I didn't equate the two ever, but you believe there is no relationship at all between corp tax and sales, you can have sales of £10 and get a corp tax bill of £20000000.Comment
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Originally posted by vetran View PostOh I feel dirty I'm just about to agree with 'the Great Cretin' (may the statistics be with him).
We need to rein in Amazon to allow competition to compete. As most of the profit comes via avoiding VAT and working offshore lets tax them until onshore business can compete.
Originally posted by fullyautomatix View PostSo they are exploiting a loophole then.
If the UK government wants to, it can easily crack down on this sort of thing.
Easy thing to sort out, if you have UK sales of a billion quid and you pay a nominal amount in corp tax, examine the records and impose a heavy fine on them which is equivalent to the tax they avoided plus a big interest.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by proggy View Postyou can have sales of £10 and get a corp tax bill of £20000000.Contracting: more of the money, less of the sh1tComment
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Originally posted by BoredBloke View PostIts not a loophole and its not easy to stamp out. The company making the profit is not the UK one and so there is no tax to pay on the UK profits, because there are no Uk profits.
The only way to stop it is for all nations to have broadly similar corp tax rates, but that will never happen.Will work inside IR35. Or for food.Comment
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Could someone explain what exactly Amazon are doing which is wrong?
It is an international business just maximising it's profits within the law, isn't it?Comment
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Originally posted by MyUserName View PostCould someone explain what exactly Amazon are doing which is wrong?
It is an international business just maximising it's profits within the law, isn't it?
If you look at it, simply like that, then yes. But then again, BS66 was legal too, and people using it were acting within the law.Comment
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Originally posted by BoredBloke View PostIts not a loophole and its not easy to stamp out. The company making the profit is not the UK one and so there is no tax to pay on the UK profits, because there are no Uk profits.
The only way to stop it is for all nations to have braodly similar corp tax rates, but that will never happen.
Any sale that happened in UK is UK sales and you can identify what the profit margin was on that sale.
The only factor to consider is whether the government is really interested in cracking down on this. I am guessing no.Vote Corbyn ! Save this country !Comment
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Originally posted by d000hg View PostIt's perfectly possible for a company to have £1bn sales and make a loss, it happens to massive companies every year like Nokia, as one example.
Amazon Q3 2012 earnings: $13.18 billion revenue, net loss of $274 millionWill work inside IR35. Or for food.Comment
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