I was in the media a couple of times over the weekend. Since the comments were carefully scripted I won't repeat them here.
The Mail yesterday included comment from me on a $1 billion claim by HMRC against GE Capital. This looks to be a transfer pricing or thin capitalisation issue. The scale is surprising.
On Saturday the Times reported my opinion that the new Digital Services Tax could easily be avoided by those it is meant to target. This was covered accessibly by Politics Home.
Perhaps most interesting is that fifteen years after tax justice campaigning began stories still feature regularly in the media. Like it or not, tax justice has fuelled the alienation many feel from a global elite operating multinational corporations. Whether this has had the unfortunate consequence of fuelling populism is an issue open to question. That it is an issue that still angers people is, I think, beyond doubt. The time must come when those dedicated to preserving democracy must take this issue seriously. I would suggest that they have not as yet.
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The world of tax has gotten a little more just according to this Washington Post story ( subscription needed )
https://www.washingtonpost.com/trumps-tax-law-makes-it-so-easy-pass-down-fortunes-that-many-millionaires-barely-need-estate-lawyers
When rules against double taxation are abolished, or simplified then people who work in the tax avoidance industry are having to find other work, and the country gains from the economic activity they go off and do instead.
Good news.
The ease with which the global considerations prevent decent living standards and live lived sensibly in regard of the planet remains a very serious problem. Allowing corporates to steal tax looks like smuggling as a means to subsidise them. Indeed, I think cigarette companies were at this first. Always good to see the resistance in action.
Lol GE is teetering on bankruptcy, of course they are fighting.
https://www.nakedcapitalism.com/2018/11/general-electric-dodge-question-will-ge-file-bankruptcy.html
UserFriendly says:
“Lol GE is teetering on bankruptcy, of course they are fighting.”
I have to say that was the first thought that went through my head, though I wasn’t up to date with their …..I was going to say progress, but perhaps ‘regress’ is the word I wanted.
Hi Richard,
I am a regular follower of you blog., having much interest in information related to tax. thanks for this.
Keep Posting.
Good!