{"id":20292,"date":"2013-04-25T07:02:10","date_gmt":"2013-04-25T06:02:10","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=20292"},"modified":"2013-04-25T07:02:10","modified_gmt":"2013-04-25T06:02:10","slug":"what-is-unitary-tax-apart-from-something-that-would-make-banks-pay-a-lot-more-in-the-uk","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/04\/25\/what-is-unitary-tax-apart-from-something-that-would-make-banks-pay-a-lot-more-in-the-uk\/","title":{"rendered":"What is unitary tax (apart from something that would make banks pay a lot more in the UK)?"},"content":{"rendered":"<p>I've <a title=\"Barclays and HSBC make the case for unitary tax in the UK \u2014 because we\u2019d have collected \u00a32.6 billion more in 4 years\" href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2013\/04\/25\/barclays-and-hsbc-make-the-case-for-unitary-tax-in-the-uk-because-wed-have-collected-2-6-billion-more-in-4-years\/\">written this morning about new research<\/a> that shows that Barclays and HSBC appear to under pay tax in the UK\u00a0compared\u00a0to their share of economic\u00a0activity in this country. To show this Meesha Nehru and I used a 'unitary taxation approach' to allocating their profits to countries.<\/p>\n<p>In December the Tax Justice Network published\u00a0<a href=\"http:\/\/www.taxjustice.net\/cms\/upload\/pdf\/Towards_Unitary_Taxation_1-1.pdf\">a paper<\/a>\u00a0by Sol Picciotto explaining unitary taxation.\u00a0Amid rising public concern at how multinational firms ride roughshod over international tax rules, the paper advocated a shift to a system unitary tax system because under this approach the global profits of a multinational are \u2018apportioned out\u2019 to countries according to the genuine economic substance of what it does in each place. Each country can then tax its share of global profits at its own rate.<\/p>\n<p>Not everyone agrees, of course, so another\u00a0<a href=\"http:\/\/www.taxjustice.net\/cms\/upload\/pdf\/Unitary_Taxation_Responses-1.pdf\">paper<\/a>, also written by Prof. Picciotto has answered ten\u00a0criticisms\u00a0of the\u00a0approach.<\/p>\n<p>What's important about all this? Well, it shows we don't have to put up with\u00a0corporate\u00a0tax abuse. There are\u00a0alternatives. And the fact is, those alternatives would work. That's why we promote them.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve written this morning about new research that shows that Barclays and HSBC appear to under pay tax in the UK\u00a0compared\u00a0to their share of economic\u00a0activity<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/04\/25\/what-is-unitary-tax-apart-from-something-that-would-make-banks-pay-a-lot-more-in-the-uk\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-20292","post","type-post","status-publish","format-standard","hentry","category-unitary-taxation"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=20292"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/20292\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=20292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=20292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=20292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}