I was absolutely amazed about how many of the highest earning companies avoid Corporate Tax through loopholes in the tax system. I dont remember the exact figures but over 200 of our richest companies dont pay corporate tax.... Wheres the justice in that?? Smaller businesses can't utilize the same loopholes in the system because they can't route money into pension funds etc.. The BBC tonight showed how a company who made a profit off £100m could route the money to avoid corporation tax.
Thats not at all the larger companies say they make up for this through employment, and what the government makes through income tax, but isnt that the working class hard earned tax money, and shouldnt be a valid reason....
Can anyone find an article about it? I can't seem to find one
2007-08-28 12:07:42 · 5 answers · asked by Anonymous in News & Events ➔ Current Events
To be honest i have a perfect right to be surprised about this, now im not naive to the fact that taxes get dodged, but with such a money thirsty government, how could they let billions of pounds slip through their fingers?
But then again, i suppose it is just another example of the Bourgeosie surpressing the Proletariat, that could ol Marxist theory comes through again...
2007-08-28 12:36:50 · update #1
i cant fidn an article on it and i didnt watch the programme but i cant say i am surprised. I believe that Gordon Brown wanted to make tax avoidance illegal - or something like that, as some kind of drive towards greater ethical responsibility. What happened to that?
I strongly suspect that most companies out there arent toeing the line in reality with respect to ethical practices... for example i strongly suspect that most companies on the FTSE index etc have grossly inflated profit figures. I think they are all at it. I am afraid that corporate tax avoidance is probably just the tip of the iceberg.
2007-08-28 12:20:11 · answer #1 · answered by Chimera's Song 6 · 0⤊ 0⤋
I didn't catch the news tonight... but i agree its absurd that the large corporations can get away with it...
Its the same with inheritance tax...the wealthy don't pay any because they can afford to find the loopholes...
the rich get richer and the poor are taxed out of existence....that shouldn't surprise you...its been that way for years.
2007-08-28 12:19:20 · answer #2 · answered by nusha 3 · 0⤊ 0⤋
I missed it, will keep a eye out on BBC news 24. I do know that most rich directors pay around a 5th of the taxes of the cleaners who clean their offices.
2007-08-28 12:14:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yet more proof that we need a dose of socialism back in our politics.
2007-08-28 12:21:53 · answer #4 · answered by SV 5 · 0⤊ 0⤋
You were surprised ? Which planet you been living on ?
2007-08-28 12:22:08 · answer #5 · answered by 17pdr 4 · 0⤊ 0⤋