http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/ Richard Murphy on tax and corporate accountability Fri, 21 Nov 2008 00:17:10 +0000 http://wordpress.org/?v=2.6 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-279579 Tax Research UK / 2007 / November / 20 Tue, 20 Nov 2007 08:35:42 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-279579 [...] Why not go the whole hog? Then we’d really know what was going on. [...] [...] Why not go the whole hog? Then we’d really know what was going on. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-257890 Tax Research UK / IFRS 8 - Europe gives a big thumbs down to the IASB Thu, 08 Nov 2007 07:50:31 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-257890 [...] But if they were to do this honestly then the benefit would be enormous. Aid is about 0.5% of world GDP. Global taxes are in excess of 30% of world GDP. They’re less in developing countries but corporate taxes are more important in these locations than in developed countries, If those s taxes were only 4% of GDP in developing countries (as they should be in the UK) they would still be massively more than all aid flows. Let me repeat that: ensuring that these taxes are paid would generate more income for developing countries than any aid initiative yet known could achieve. And country-by-country reporting could achieve that, and much more. [...] [...] But if they were to do this honestly then the benefit would be enormous. Aid is about 0.5% of world GDP. Global taxes are in excess of 30% of world GDP. They’re less in developing countries but corporate taxes are more important in these locations than in developed countries, If those s taxes were only 4% of GDP in developing countries (as they should be in the UK) they would still be massively more than all aid flows. Let me repeat that: ensuring that these taxes are paid would generate more income for developing countries than any aid initiative yet known could achieve. And country-by-country reporting could achieve that, and much more. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-246463 Tax Research UK / Opaque accounting threatens pensions Wed, 31 Oct 2007 12:00:58 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-246463 [...] Adopting country-by-country reporting would be one thing that would reduce the risk. After all, pensioners are real people living in real places with real interest in what is happening in their locale. Which is why reporting for their benefit might be of importance. [...] [...] Adopting country-by-country reporting would be one thing that would reduce the risk. After all, pensioners are real people living in real places with real interest in what is happening in their locale. Which is why reporting for their benefit might be of importance. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-246324 Tax Research UK / Adobe paying tax at 0.5% in Ireland Wed, 31 Oct 2007 09:17:27 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-246324 [...] Now suppose we had country-by-country reporting. How much more would we know? [...] [...] Now suppose we had country-by-country reporting. How much more would we know? [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-180597 Tax Research UK / The IASB - nominated for corporate irresponsibility Wed, 19 Sep 2007 13:22:43 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-180597 [...] Ten reasons for country by country reporting of the type we requested from the IASB, and as rejected by them, can be found here. [...] [...] Ten reasons for country by country reporting of the type we requested from the IASB, and as rejected by them, can be found here. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-163624 Tax Research UK / Yet more need for country-by-country reporting Tue, 04 Sep 2007 09:18:39 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-163624 [...] Another reason for country-by-country reporting. [...] [...] Another reason for country-by-country reporting. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-157776 Tax Research UK / One third of large companies don’t pay tax - Radio 4 pick up the theme Tue, 28 Aug 2007 13:00:53 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-157776 [...] Mike was amusing. He expressed surprise at the finding, which has in fact been well known for some time e.g. PWC trailed it in a report for the 100 Group a couple of years ago. And his response, that it’s as unreasonable to ask a large company to declare its tax on a national basis as it would be to do so on a regional basis in the UK was ludicrous. Mike and big business might wish to fantasise about a global world without governments with the power to impose tax, but the reality is that those governments exist and corporations are accountable to them. So unless Mike comes out strongly in favour of formula apportionment then national reporting is going to remain a necessity. And even if that happens, the case for country by country corporate reporting remains - as all businesses know only to well. Which is why they do it, and would do so whether it was required for tax or not. [...] [...] Mike was amusing. He expressed surprise at the finding, which has in fact been well known for some time e.g. PWC trailed it in a report for the 100 Group a couple of years ago. And his response, that it’s as unreasonable to ask a large company to declare its tax on a national basis as it would be to do so on a regional basis in the UK was ludicrous. Mike and big business might wish to fantasise about a global world without governments with the power to impose tax, but the reality is that those governments exist and corporations are accountable to them. So unless Mike comes out strongly in favour of formula apportionment then national reporting is going to remain a necessity. And even if that happens, the case for country by country corporate reporting remains - as all businesses know only to well. Which is why they do it, and would do so whether it was required for tax or not. [...]

]]> http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-114383 Tax Research UK / Tax and Corporate Responsibility Wed, 11 Jul 2007 15:30:04 +0000 http://www.taxresearch.org.uk/Blog/2007/05/10/10-reasons-why-country-by-country-accounting-is-vital/#comment-114383 [...] What was interesting was the convergence of ideas. Dave Hartnett, Director General of HMRC stole some of my themes in the first presentation of the day, and was kind enough to give this blog the first plug of the day. John Whiting of PWC, despite his claims to the contrary, is slowly revising the Total Tax Contribution framework to reflect many of my concerns. He went as far as to endorse country-by-country reporting and the need for the reconciliation of the tax charge in accounts with the tax actually paid by companies, both of them themes that have come out of my work. It’s a just a shame he can’t yet agree that this reporting should be mandatory and audited and be backed by the key indicators from country-by-country profit and loss accounts that prove the credibility of the tax data he recognises is needed. [...] [...] What was interesting was the convergence of ideas. Dave Hartnett, Director General of HMRC stole some of my themes in the first presentation of the day, and was kind enough to give this blog the first plug of the day. John Whiting of PWC, despite his claims to the contrary, is slowly revising the Total Tax Contribution framework to reflect many of my concerns. He went as far as to endorse country-by-country reporting and the need for the reconciliation of the tax charge in accounts with the tax actually paid by companies, both of them themes that have come out of my work. It’s a just a shame he can’t yet agree that this reporting should be mandatory and audited and be backed by the key indicators from country-by-country profit and loss accounts that prove the credibility of the tax data he recognises is needed. [...]

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