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Robert Reich on recent development - Tax Amnesty
[ shareholder capitalism ] 2.1trn $$$ parked in offshore banking for USA alone. ... USA x times bigger. ... UK estimate of up to 20bn a year of tax evasion and avoidance. // special deal of 10% tax on repatriation of offshore funds. // this is extortion // no Principles. you either pay your taxes or you are not allowed to do business in this country. // and it is not only cash it is also property and other assets ... companies will undervalue/price their value. not to market rate. see india's tax amnesty and that loophole people and companies exploited - bit.ly/1LjzHjk // >> tax is the price you pay for civilised and modern, western society! << //
tax  evasion  tax  avoidance  HMRC  Google  Amazon  Facebook  Microsoft  Apple  tax  amnesty  lobby  revolving  door  Career  Politicians  budget  deficit  offshore  banking  UK  USA  IRS  lobbyist  lobby  lobbying  presidential  election  2016  barackobama  presidency  austerity  TPP  TTIP  Wall  Street  profit  maximisation  shareholder  value  plutocracy  oligarchy  Super  Rich  1%  No  Representation  crony  capitalism  exploitation  white-collar  crime  shareholder  capitalism  fiduciary  responsibility  Gini  coefficient  inequality 
march 2016 by asterisk2a
MPs launch tax inquiry after criticism of £130m Google-HMRC deal | Business | The Guardian
MPs have launched an inquiry into the UK’s tax system after the government was accused of allowing Google to pay too little in a £130m deal. The House of Commons Treasury committee announced that it would examine whether a radical shakeup of corporation tax was needed, amid concern that Google has been allowed to get away with an effective rate of 3%. The inquiry is not directed at Google, but will investigate the UK’s shrinking corporate tax base more widely and whether HMRC is doing enough to tackle avoidance. It will ask whether there needs to be a radical shakeup of the system, and whether business taxation could be based on turnover rather than profits. Andrew Tyrie, chairman of the committee, said the UK’s tax law had become too elastic, allowing companies to get away legally with paying too little. [...] [ 6 year audit by HMRC, is a sweetheart VIP backroom deal, 130m was all they got, not more! from Google. ] //&! bit.ly/1RJc713 &! bbc.in/1UoxMJQ
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january 2016 by asterisk2a

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