For the first time ever the Danish tax authorities started publishing information on the taxes paid by all Danish companies today. You can see a sample here.
68% of all Danish companies paid tax, which is vastly better than the 33% I estimate pay tax in the UK.
But the real question is, if the Danes can do this, why can't HMRC? What is wrong with this openness and transparency?
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Putting aside the argument that no businesses pay tax, are you suggesting that 67% of UK businesses pay tax in the UK?
No, 33% do
And businesses do pay tax, as a matter of fact
Can you provide evidence for your estimate please?
http://www.taxresearch.org.uk/Documents/500000Final.pdf
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Agree. Can you make a start by putting your income, tax returns and tax payments on this blog for you and your various businesses. I’m sure you agree it’s important to practice what you preach and lead by example.
My LLP accounts are on public record – submitted yesterday for the record. They include voluntary disclosure not required by law
We do not argue for individuals to have their tax returns on public record
So what does the Danish list provide that can’t be found in the cash flow statement of a company’s accounts and the tax note?
I presume you have never tried to find country based data on tax paid in most company’s accounts
If you had you’d know it’s as rare as hen’s teeth
Do the Danes show what has actually been paid or what is provided e.g. deferred tax? Obviously real cash is what is relevant here.
This is cash paid
I’ve now looked at your LLP accounts (up to 2011 which are the last in the system). There are no tax disclosures in these.
Of course there aren’t – I pay the tax personally
That’s true of all LLPs
But you now know what I earn from doing this
Do you tell the world the same thing, voluntarily?
I don’t but then I’m not the person calling for greater transparency.
PwC (also a partnership and often derided on here) disclosed their tax paid in their last set of accounts (even though the tax is paid personally by the partners). Hopefully this will prompt the other big accountants and law firms to do similar
And like all things PWC do, that will be a token gesture and bound to be wrong
would be good to get your thoughts on their tax disclosure (not sure you have done a piece on it yet?) – especially if you think its “wrong” (im not sure if you mean the auditors havent done their job properly or you think its been deliberately manipulated – or both !)