Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
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Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#2I have to pay 40% of my income as income tax.
I have HAD ENOUGH. This is infuriating.
What can we do?
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#3I have to pay 40% of my income as income tax. I have HAD ENOUGH. This is infuriating. What can we do?
Corporations are people, we are the serfs
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#4Isn't the US levying corporate tax on worlwide income anyway (since the last tax reform).
So it's "only" a matter of deciding whether those taxes should be paid in US vs. other countries (and if the intellectual property was developped mostly in the US, it seems fair for the US to get most of it).
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#5Meanwhile my (single-person) company is paying around 20% corporation tax, and then I'm getting taxed a further 20-40% on top of that when I pay myself.
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#6Isn't the US levying corporate tax on worlwide income anyway (since the last tax reform). So it's "only" a matter of deciding whether those taxes should be paid in US vs. other countries (and if the intellectual property was developped mostly in the US, it seems fair for the US to get most of it).
That isn't fair at all.
If you're opening a location in another country, and that location takes X in revenue, the tax should be paid in that country.
Why on earth do you think its fair for US based organizations to spread across the globe, reap the huge profits from that but funnel all the cash back into the US?
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#7220bn profit? Really? Surely they mean "revenue"
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#8I have to pay 40% of my income as income tax. I have HAD ENOUGH. This is infuriating. What can we do?
Respect copyright and patents as much as Microsoft respects taxation.
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#9Meanwhile my (single-person) company is paying around 20% corporation tax, and then I'm getting taxed a further 20-40% on top of that when I pay myself.
Isn't salary a deductible expense?
Re: Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
#10220bn profit? Really? Surely they mean "revenue"
In the UK you only pay corporation tax on profit