As many will know I have been campaigning for country-by-country reporting of accounting and tax data by multinational companies for overcast decade. As a result of that work, and campaigning by many others, this issue reached the international taxvagendalast year, and then the fight back began.
At the OECD those multinational businesses - whose trading information whether at group or subsidiary level should, in my opinion, be on public record because of the limited liability they enjoy - have been saying two things. The first is that this is an infringement of their right to privacy and the second is that tax authorities can't be relied upon to protect the private nature of this data.
I have to date dismissed both concerns.
However, now we know that the UK government is apparently planning to sell tax payer data to commercial organisations and researchers (although the latter is just PR; they won't be able to afford it). So the very same companies who object to filing information on their tax affairs that will ensure they pay the right amount of tax in the right place at the right time will now be able to buy information on the tax affairs of people who do just that.
You really could not make up such staggering hypocrisy from both big business and HMRC.
On hang on: given who is on the board of HMRC they are of course virtually one and the same thing.
If Labour does not commit to sweeping this board clean on coming to office we've no hope of having a decent tax authority.
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If Labour does not commit to sweeping this board clean – gat chance of that, we’ll have to await the naissance of a new party once people realise we are in a one party state.
“we’ll have to await the naissance of a new party once people realise we are in a one party state.” Which would be the anti-neoliberal party the coming of which I’ve been heralding for some years now. Just as the backlash to the war gave us the NHS, I’m sure the backlash against neoliberalism will open many doors 🙂
Alas, until people break out of their complacency and come to realise just how hard they are being screwed, little is going to change.
Time to stop accepting the crumbs from the table and get onto the streets to demand real change.
One law for the serfs, another for the new super monarchy. Time for a Magna Carta to bring these companies back into line, before they consider they have the divine right to rule us…..
Can’t wait for the buy one get one free offers to come along. What exactly do these people want with this data? If the recent past is any guide it will open the doors to all sorts of unsavoury rackets.
something to get your teeth into perhaps.. Guernsey post….Accountants disciplined over Norwegian claims
THREE accountants have been disciplined by their professional standards authority in connection with the fraud allegations being made by the president of the Norwegian parliament, it has emerged…… For those of you interested in the institution; try a google search for “Dagens Naeringsliv Guernsey” and all will be revealed. would you trust them I guess it is important to know that your money is safe !!!!!!!!!!!
I had a look at the HMRC board & I only know Volker Beckers (Npower) who are the other foxes in the hen house?
Look at their individual CVs
Chair is from KPMG
Another ex PWC
What genius in the Treasury or the Tory Party thinks this is a good idea?
The basis of the tax system is the trust and complete confidentiality between Tax payers and the tax collecting authorities. With a creaking system and staff morale down – how long before someone breaches the rules and sells identifiable data ‘by accident’?