241–250 of 449 posts
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Why do people get mad at the company for not paying more in taxes? I presume they are following the law and paying what is required? Why not get mad at the politicians who created the tax code?
... Is this like a "Why do people get mad you have to sit at the back of the bus, it is the law after all?" kind of argument?
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I think the parent is referring to contractors, who avoid PAYE but still have to pay dividend and corporation tax. The dividend tax rate is about to go up so the PAYE issue is about to become void.
Sorry, I was more thinking of the executives, whose large salaries would skew the average, and would have a complicated compensation package, and can afford accountants to do creative accounting. I do not know if there are executives included in that 362 employee figure.
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If I didn't buy an iPhone, I'd buy a different phone. The VAT would still be there. If I didn't use Facebook I'd be using a different image sharing service, or chat service, or whatever. The VAT would still be there. Because I have a budget to spend on entertainment, and various companies compete for that budget. We pay those taxes, Facebook/Apple doesn't 'generate' anything, that money would be spent on a different…
Before Apple did iPhone, modern mass-market smartphones didn't exist and VAT from old-school smartphones was probably 10% of what it is today. Before Apple did iPad, VAT from tablet sales was virtually zero. I think you should tax what is easy and straightforward to tax; not aim for a "perfectly fair taxes". Anyway, it shoud be good to you that you are paying taxes and not Apple. Next time Apple wants to ban phones w…
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The corporate tax rate in the US is actually higher than in many EU countries. The reverse is actually true, US companies choosing to base their "head quarters" in Ireland and the Netherlands.
It's worse than that. The "HQ" is in Ireland, but pays "royalties" to an IP holding company in the Cayman Islands, which is where all the profits go, on which no tax is paid. This is the "double Irish" referred to in other comments. Edit: note that you can just go and read the accounts for Facebook UK here: https://beta.companieshouse.gov.uk/company/06331310/filing-h... A very important piece of information is left o…
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I utterly reject this argument > 362 Facebook staff on an average salary of say £65,000 will contribute at least £7,230,696.60 in taxes and NI to HMRC. Let's also not pretend that £65,000 is the average salary at Facebook UK, it's likely much higher. First of all, that's Facebook employees paying tax. Not Facebook. That's their money that they are taxed on and they pay it. Secondly, no one is asking for Facebook to p…
> First of all, that's Facebook employees paying tax. Not Facebook. That's their money that they are taxed on and they pay it. Why is this distinction even relevant? Facebook then needs to pay its employees more to make up for the difference. No matter who the government taxes, everyone involved will shift their habits to compensate for it.
Why not reduce corporate income tax and add 1% revenue tax? If you can't afford 1% you are gonna go bust anyway.
So, the generic answer for why we favor income or value-added taxes over revenue taxes is that (1) we want to encourage investment, so marginal business expenses are essentially tax-free, and (2) revenue taxes limit the ability for competitive middlemen (who can lower transaction costs) and give massive advantage to vertically integrated semi-monopolies.
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That's easy to explain (although it might be tricky). The marginal value of money decreases as the absolute value increases. Getting a raise from $1k per month to $2k per month is more significant than from $2k to $3k Meaning that if you earn more, you'll usually save more. So now stuff is taxed at 50% (VAT or Sales tax), so everything will cost more, but it will be easier for the rich to afford it, because of no inc…
Give every citizen a yearly vat tax credit?
TIL we pay 10-20x more corp tax than Facebook. Sometimes I feel like a fool, but we've always said from day 1 try to do things as honestly as possible which I'm quite proud of, but there really doesn't seem to be much practical upside apart from not being outed and shamed. First world problem I guess, at least we're turning a profit. It is starting to make me a bit bitter though. For example, we've spent a LOT of tim…
the alternative is that they knowingly pay more tax than the law requires of them. which is ridiculous.
don't hate the player, as they say...
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First we were told to be nice to the rich and give them tax reduction, because we will be all happy for the trickling down pennies. And now we are supposed to give the cooperation tax relief because there is money trickling down from the employees?
You're not "supposed" to do anything. If you want to raise tax, raise tax. Just keep in mind that this changes incentives for anyone who has to pay that tax. That's not a threat, it's a fact.
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It's always funny when Brits complain about foreign tax havens. The UK is a massive tax haven, with oodles of little overseas territories, or Isle of Man, or the Channel Islands.
Neither the Isle of Man nor the Channel Islands are a part of the UK.
The legal wordplay is irrelevant; it has no effective sovereignty if it cannot even put up a semblance of defending its own borders.