71–80 of 238 posts
Ed Sheeran pays more tax in the UK than Amazon.
Is this true? Edit: holy moly it is! https://metro.co.uk/2018/10/12/ed-sheeran-may-be-the-worlds-...
Uk wants to pass a new sales tax, that applies only on "established tech giants" that generate "at least £500m a year in global revenue" of 2% of sales made in the UK.
Good. It is becoming more and more apparent that there is a toll on society created by these companies. They have a negative impact on our domestic businesses (traditional brick and mortar, as well as home-grown digital businesses) not to mention our mental health and even democracy. By taxing them, hopefully we can go some way to reversing some of that damage (although I'm less hopeful of that...).
> They have a negative impact on our domestic businesses (traditional brick and mortar, as well as home-grown digital businesses I have a home grown, UK based digital business. This is going to affect me negatively more than the continued existence of the FAANG companies.
This will only hurt the people who live in the UK. Those companies will just raise their prices to cover the tax. Sure maybe the local companies could then undercut Amazon if they somehow don't have to pay the tax, but eventually they'll just raise their rates to match because why give up the profit margin if they don't have to? It doesn't matter anyway, the tax will never happen. They're just using it as a point of…
I give it 20 minutes before one of the big accountancy firms find the (totally unintentional) loop hole to evade this tax.
It's getting much harder since you have to register tax evasion schemes now... But probably yes. In the other hand I can't believe it is expected to raise so little.
I imagine if you registered your tax evasion scheme you would receive a knock at the door in short order
This will only hurt the people who live in the UK. Those companies will just raise their prices to cover the tax. Sure maybe the local companies could then undercut Amazon if they somehow don't have to pay the tax, but eventually they'll just raise their rates to match because why give up the profit margin if they don't have to? It doesn't matter anyway, the tax will never happen. They're just using it as a point of…
How exactly will Facebook raise prices in a way that it will hit the average consumer?
This will only hurt the people who live in the UK. Those companies will just raise their prices to cover the tax. Sure maybe the local companies could then undercut Amazon if they somehow don't have to pay the tax, but eventually they'll just raise their rates to match because why give up the profit margin if they don't have to? It doesn't matter anyway, the tax will never happen. They're just using it as a point of…
I suspect it's got more to do with countering Labour
One thing that will be interesting around this is any future trade negotiations the UK has with the US, especially after we leave the EU. This tax will target the US giants.
This will only hurt the people who live in the UK. Those companies will just raise their prices to cover the tax. Sure maybe the local companies could then undercut Amazon if they somehow don't have to pay the tax, but eventually they'll just raise their rates to match because why give up the profit margin if they don't have to? It doesn't matter anyway, the tax will never happen. They're just using it as a point of…
I know it's a dogmatic talking point that you have to make to pretend that tax incidence is pointless, but it doesn't work here.