Quote:
Originally Posted by Hugh
Depends on your definition of ‘over-tax".
When companies off-shore Holding Companies to avoid paying Corporation Tax, or use complex barely legal tax avoidance schemes (knowing even if they have to pay, they will have held on to the capital for a few years), remedying those situations is not "over-taxing".
We all need to pay appropriate taxes to support the society we all live in - wanting to keep an extra 5% of anything you earn over £150k is just being greedy, imho (speaking as someone who has been on 40% and above tax rate for over 25 years).
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These companies do pay corporation tax, just in the country they are based in and not the UK. They are acting as importers. Nothing new. Just as the main tax paid on a BMW car made in Germany, is paid in Germany. That is where the cost of building the car occurs. Any UK tax will only be paid on the "commission" part of any sale. Money earned from Intellectual Property(eg Franchise fees, copyright, etc) can be sent to any country in the world. Nothing new in that.