The FT has noted that:
A global crackdown on tax avoidance has forced a surge of warnings by multinational companies that higher payments are set to hit their earnings.
A Financial Times analysis of company filings revealed that more than twice the number of US companies alerted investors to the risk of higher taxes in their 2015 accounts than a year earlier.
Nearly a fifth of the 136 US companies sounding an alert were technology companies such as LinkedIn and Yahoo.
When John Christensen and I set out in 2003 to put companies avoiding tax on the front page of newspapers it was our intention that they should pay more.
It's working.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Well done Richard.
I hope all of your hard work and effort pays off and they really do pay the correct amount of taxes owed, although I suspect the will all be frantically hunting for the loophole that allowes them to cop out if indeed it isn’t already built into the system.
I still find it absurd that banks can gamble in derivatives (mostly mortgage-backed securities) —Which the IMF say, now total 823 trilling in o/s contracts, with hedge fund owners, who have sold these contracts globally, being guaranteed ‘preferred creditor status’ with all debtors, such as all of these banks, which will claim to require bailouts–and bail-ins….
So where and when, did taxpayers enter into any of these derivative, or debt obligations—-? They never did, so why are they secretly being forced by their governments to pay thru bail-in clauses in every one of their country’s budgets—and this is legal?
All are also worried about the loss of the commodity markets, really?
You have a majority of corporations, quietly speculating on ,buy-backs of their own companies stocks–for the last decade. What in thunder else was going to happen with so many corporations doubling up on their own shares, for bonuses, instead of actually producing products which require, raw materials (commodities)?…
Some have even leverage themselves into debt, with their greedy stock buybacks…So much for normal global growth….Not to worry, their demanding taxpayers be forced to pay their taxes, when they keep moving any revenue, naturally offshore…
Running out of markets?..Why not, just take taxpayers over, and use them as markets…. Enter trade agreements that have 2 chapters that deal with trade and the rest that remove and/or replace nation-state laws and regulations…
In the future, trade deal, ISDS (investor-state dispute settlement clauses) will go thru a 3 corporate lawyer tribunal, which will decree taxpayers are to guarantee corporate profits. Since taxpayers will be responsible for the cost of corporations doing business….(if we pollute or cause harm or damages–taxpayers pay– there is no means to appeal). That was initiated by NAFTA, now CETA, TPP, TTIP, FIPA and the privatizing TISA, Trade in Services Agreement, will allow, by law (corporations) to ‘take over’ public pensions, utilities, banking, education, transportation, healthcare and the right to exploit all protected lands and waterways. As well as dictate all prices and fees for previously paid for governmental programs and services…..see bilaterals.org
Yet none of any of these issues, which will cause so much misery and chaos are .. discussed, ever.
What will be left of humanity? —The TISA previously outlined, is so obviously a scam, that there is a provision, which has a public non-disclosure clause ensuring that all the rule of law, need not apply as its, too late to revert from corporatism..back to democracy.(kind of like the bridge to nowhere, being 80% built, too late to undo?
TISA, TTIP and the like are dangerous
When the only way out of obligations is revolution something is profoundly wrong