At the moment it seems that large companies get to pick and choose where they pay tax, and therefore how much tax they pay. If Costa Coffee or Starbucks don't feel inclined to pay tax on their UK profits, they simply ship the profit around their systems to a low tax regime somewhere, whereas their local competitors, the family run coffee shop that has been in the town for generations, doesn't have that opportunity, therefore can't compete, and goes bust.
That's just an example. Of course it happens with Amazon and Google and thousands of other big corporations, who fancy making money in our business-friendly environment, but don't fancy paying any, or much, contribution.
Is there a tax system which would end this situation? I don't know much about economics, so I don't understand why we don't design a tax based on turnover, rather than profit. You can't move turnover around the world in the way you can move profit. What would be the effect of (plucking a number out of the air) taxing turnover at 1%?
That's just an example. Of course it happens with Amazon and Google and thousands of other big corporations, who fancy making money in our business-friendly environment, but don't fancy paying any, or much, contribution.
Is there a tax system which would end this situation? I don't know much about economics, so I don't understand why we don't design a tax based on turnover, rather than profit. You can't move turnover around the world in the way you can move profit. What would be the effect of (plucking a number out of the air) taxing turnover at 1%?
via International Skeptics Forum http://ift.tt/2FUOliY
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