Reply to: Should Google pay their fair share of tax?

[AtW]

In that case I'd say fill your boots

Nah

Would not be fair...

[ShandyDrinker]

20% max income tax band.

No CGT tax.

No Inheritance tax.

Corp tax - 0% for most.

Dividends tax - 0%.

Pretty sunny, eh?

In that case I'd say fill your boots

[AtW]

Sunny isn't exactly the term I'd have used!

20% max income tax band.

No CGT tax.

No Inheritance tax.

Corp tax - 0% for most.

Dividends tax - 0%.

Pretty sunny, eh?

[PurpleGorilla]

Best idea you've had in ages. I mean Birmigham () or IoM....

http://www.buzzfeed.com/robinedds/re...ife#.mexxpJrk7

I o M to live and work on the mainland mon-fri...

It's an interesting prospect....

[DimPrawn]

If I move it would to be to a sunny Isle of Man ...

4 bed property for sale in College Green, Castletown IM9 - 39337265 - Zoopla

Cheap real estate...

Best idea you've had in ages. I mean Birmigham () or IoM....

http://www.buzzfeed.com/robinedds/re...ife#.mexxpJrk7

[ShandyDrinker]

If I move it would to be to a sunny Isle of Man ...

4 bed property for sale in College Green, Castletown IM9 - 39337265 - Zoopla

Cheap real estate...

Sunny isn't exactly the term I'd have used!

Tax Havens: Isle of Man | Taxcafe

Great tax

While the tax is certainly low you've got to balance it out with the fact that everything else costs that a fair amount more from basics such as groceries/gas/electric/etc through to travel/cars/houses/etc although at least house prices aren't as crazy as London. Still, a great place all round if you like the lifestyle a small island environment offers.

I'd say that anyone thinking of moving there should do their research carefully beforehand and know what they're letting themselves in for. The same can probably be said for the Channel Islands.

[MarillionFan]

If I move it would to be to a sunny Isle of Man ...

4 bed property for sale in College Green, Castletown IM9 - 39337265 - Zoopla

Cheap real estate...

Tax Havens: Isle of Man | Taxcafe

Great tax

[AtW]

Move to NI AtW. Similar in terms of general tuliptiness to Brum, but much lower tax. Sorted.

If I move it would to be to a sunny Isle of Man ...

http://www.zoopla.co.uk/for-sale/det...76917ad7a4b5b5

Cheap real estate...

[DimPrawn]

Now that's amusing:



"The company claims that all UK sales are 'closed' in Dublin, with its lower rate of tax, allowing the US business to legally avoid an estimated £200million a year in UK tax.

It also was also reported today that the much-heralded 'Google tax' which the Chancellor said would be his weapon against multi-national companies, was not used against Google.

The 'diverted profit tax' (DPT) was designed to tackle firms who registered their British sales in other countries, such as Ireland.

But The Times reported today that the tax was not used in the securing the web giant's £130million tax bill, because officials decided the firm's offshore arrangements were legitimate."

Very nice 12.5% corp tax rate in Northern Ireland from 2018 - Northern Ireland's 12.5pc corporate tax rate will pose threat to foreign direct investment in the South - Independent.ie

Move to NI AtW. Similar in terms of general tuliptiness to Brum, but much lower tax. Sorted.

[AtW]

Google's thousands of UK staff are paid an AVERAGE of £160,000 | Daily Mail Online

Now that's amusing:



"The company claims that all UK sales are 'closed' in Dublin, with its lower rate of tax, allowing the US business to legally avoid an estimated £200million a year in UK tax.

It also was also reported today that the much-heralded 'Google tax' which the Chancellor said would be his weapon against multi-national companies, was not used against Google.

The 'diverted profit tax' (DPT) was designed to tackle firms who registered their British sales in other countries, such as Ireland.

But The Times reported today that the tax was not used in the securing the web giant's £130million tax bill, because officials decided the firm's offshore arrangements were legitimate."

Very nice 12.5% corp tax rate in Northern Ireland from 2018 - http://www.independent.ie/business/i...-34221571.html

[MarillionFan]

Google's thousands of UK staff are paid an AVERAGE of £160,000 | Daily Mail Online


What poor reporting this is? I've had to comment


So 2000 staff @ 160k a year will pay around 70k in tax and NI per person. That's 140 Million per year.


That of course is an expense, that reduces profits. So it's 130M + 1.4Billion in Tax.


What a load of tulip.

[d000hg]

Do most employers allow you to claim for a 2nd house ?

If my work requires me to spend time away from home then they would pay for the hotel, or for the rent on a property if that makes more sense.

This "we should all act exactly the same way" argument is just idiotic simple-minded fallacy. An MP's life and work-week is vastly different from a 9-5 employee, which is vastly different from a contractor working away all week, which is again different from a contractor working in the Eurozone for months at a time.

Stop with the "mummy he got a biscuit it's not fair if I don't get one too" jealousy.

[AtW]

Two mechanisms off the top of my head could be deemed as 'fair'...

1) If UK turnover represents 20% of Google's global turnover, then Google should pay UK Corp Tax on 20% of their global profits.

-- or --

2) Remove tax relief on monies sent to other companies within the group's overseas tax havens for the purposes of shifting profit from one part of the global group to another. Obviously, legitimate expenses incurred from overseas groups should be allowable for relief. Probably harder to police than [1].

For large multinationals corp tax should be on actual profits made in the territory with actual costs (wholly and exclusively) incurred in that territory only - Google got some offices in UK, so that's ok - salaries etc fully deductable, but booking sales via Ireland was totally unacceptable from day one.

£130 mln they agreed to pay is very low, but I guess at least going forward they'd have to be paying a lot more than before.

[MicrosoftBob]

Than who? Don't most employers allow employees to claim back expenses?

Do most employers allow you to claim for a 2nd house ?

[chopper]

And what is a fair share?

Two mechanisms off the top of my head could be deemed as 'fair'...

1) If UK turnover represents 20% of Google's global turnover, then Google should pay UK Corp Tax on 20% of their global profits.

-- or --

2) Remove tax relief on monies sent to other companies within the group's overseas tax havens for the purposes of shifting profit from one part of the global group to another. Obviously, legitimate expenses incurred from overseas groups should be allowable for relief. Probably harder to police than [1].