[Finance] Ban tax haven firms from coronavirus relief

happypig · Apr 23, 2020

France joins Denmark and Poland in banning tax haven firms from coronavirus relief:
https://www.thelondoneconomic.com/p...ax-haven-firms-from-coronavirus-relief/23/04/

Should the UK follow suit ?

Swansman · Apr 23, 2020

Everyone should follow. I'd ban them from doing any sort of business in my country whatsoever, but this is a decent start.

CHAPPERS · Apr 23, 2020

How many companies would that rule out?

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Machiavelli · Apr 23, 2020

CHAPPERS said:
How many companies would that rule out?

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No one has any real idea because we don't have decent records for them. We could have decent records for them but, over several decades, our government (and it's by no means alone in this) has chosen not to. Whyever could that be.

Stat Brother · Apr 23, 2020

Footballers should be bailing them out.

Wrong-Direction · Apr 23, 2020

Seeing as most MP's have their fingers in so many pies I doubt we'd do it

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sparkie · Apr 23, 2020

Depends on how much they are funding influential MPs really, doesn't it ?

maltaseagull · Apr 23, 2020

CHAPPERS said:
How many companies would that rule out?

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Who cares.
It's time everyone realised that avoiding responsibility for tax contributions is immoral.

Even at the lowest level, small businesses, self employed people who under declare are now receiving payouts based on declared income/profits.

CHAPPERS · Apr 23, 2020

maltaseagull said:
Who cares.
It's time everyone realised that avoiding responsibility for tax contributions is immoral.

Even at the lowest level, small businesses, self employed people who under declare are now receiving payouts based on declared income/profits.

Oh I completely agree, completely.

Westdene Seagull · Apr 23, 2020

I'd prefer that the government stopped companies being able to use tax havens. As for banning them from Covid-19 relief - probably but it might put a number of people out of work which would concern me ( and I mean the genuine employees not the owners or directors ).

Seasidesage · Apr 23, 2020

Profits should be taxed at the point of sale but as usual MP's are so far in the pockets of the big multi nationals that this won't happen. The only way business will not avoid tax is if there were harmonised tax rates world wide and that is a long long way from happening. Too many vested interests in preventing that.

CheeseRolls · Apr 23, 2020

I am entirely against this. I think brassneckar and the Cayman Islands should be doing everything possible to support their industries in these troubled times.

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Weststander · Apr 23, 2020

Seasidesage said:
Profits should be taxed at the point of sale but as usual MP's are so far in the pockets of the big multi nationals that this won't happen. The only way business will not avoid tax is if there were harmonised tax rates world wide and that is a long long way from happening. Too many vested interests in preventing that.

I agree with that. Those companies (famously Amazon, Starbucks, Apple, Dell), who mysteriously make minimal UK profits, whilst their tax haven parents (Lux, Netherlands or ROI) declare vast profits, should be taxed in the UK on a hefty percentage of turnover.

Unfortunately, it requires a concerted joint effort of many powerful trading nations, even socialist nations in the EU haven’t achieved that. The States, unsurprisingly, throw their full weight in backing their multinationals, with fully meant trade barrier threats against importers into the US. It’s not just them, Lux, ROI and the Netherlands refuse to cooperate. Working alone, we’d be punished economically.

Pretty pink fairy · Apr 23, 2020

Richard Branson
Regards
DF

Swansman · Apr 23, 2020

sparkie said:
Depends on how much they are funding influential MPs really, doesn't it ?

Yup.. too much corruption to stop it. Except in the telecom and pharmaceutical businesses of course, they are completely legit.

Kinky Gerbil · Apr 23, 2020

Pretty pink fairy said:
Richard Branson
Regards
DF

Good job His companies like Atlantic are registered in the UK and pay tax.

Pretty pink fairy · Apr 23, 2020

Kinky Gerbils said:
Good job His companies like Atlantic are registered in the UK and pay tax.

Where as he's a hippy living in the virgin island paying very little UK tax, worth around 3bn asking the Government for a bail out , right on bro !
Regards
DF

Kinky Gerbil · Apr 23, 2020

Pretty pink fairy said:
Where as he's a hippy living in the virgin island paying very little UK tax, worth around 3bn asking the Government for a bail out , right on bro !
Regards
DF

Do you mean loan?

Pretty pink fairy · Apr 23, 2020

Kinky Gerbils said:
Do you mean loan?

What ever, either way an absolute piss take in any one's book, I think most people would see it that way, wouldn't they

Regards
DF

GT49er · Apr 23, 2020

Swansman said:
Everyone should follow. I'd ban them from doing any sort of business in my country whatsoever, but this is a decent start.

Fully in favour, if it can be done.

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[Finance] Ban tax haven firms from coronavirus relief

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