Hooray!
"The G7 group of advanced economies has reached a "historic" deal to make multinational companies pay more tax.
Finance ministers meeting in London agreed to battle tax avoidance by making companies pay in the countries where they do business.
They also agreed in principle to a global minimum corporate tax rate of 15% to avoid countries undercutting each other."
"It was reported this week that an Irish subsidiary of Microsoft had paid zero corporation tax on $315bn (£222bn) profit last year because it was resident in Bermuda for tax purposes."
https://www.bbc.co.uk/news/world-57368247
Encouraging first step towards a global pact on tax avoidance.
But the Conservatives have worked to water it down from the initial plan of a 21% global corporate tax rate.
That would have raised £131 million extra a week for our public services.
"The G7 group of advanced economies has reached a "historic" deal to make multinational companies pay more tax.
Finance ministers meeting in London agreed to battle tax avoidance by making companies pay in the countries where they do business.
They also agreed in principle to a global minimum corporate tax rate of 15% to avoid countries undercutting each other."
"It was reported this week that an Irish subsidiary of Microsoft had paid zero corporation tax on $315bn (£222bn) profit last year because it was resident in Bermuda for tax purposes."
https://www.bbc.co.uk/news/world-57368247
Encouraging first step towards a global pact on tax avoidance.
But the Conservatives have worked to water it down from the initial plan of a 21% global corporate tax rate.
That would have raised £131 million extra a week for our public services.
Should billionaires and multinationals pay fair tax?
Just like the rest of us common little people?
Or should the tax laws be constructed so they can hide it in tax havens? They're not contributing to our public services.
If a company that doesn't pay tax in, say, the UK, has a warehouse fire, should they expect our taxpayer-funded fire service to put it out? Or should they phone Panama and ask for a boat to be sent?
If the owner of the Daily Wail gets burgled, should he get help from the British police?
Is Richard Branson entitled to use our street lamps, or should he run a cable back to the Virgin Islands?
If Murdoch has a stroke and falls over in the street, should he get one of our ambulances?