Saturday, 15 June 2013

The Great Tax Debate

David Cameron has today announced progress with offshore havens to bring them into line and close loopholes against what the BBC calls "tax evasion and aggressive tax avoidance).

Now strike me unimpressed, mainly because I'm not sure what the difference is between "normal" tax avoidance and the aggressive kind. Sounds more like hyperbole to me.

The thing is, if the corporations reducing their tax burden are doing so illegally, then prosecute. If you don't like them reducing their tax burden using perfectly legal means, then change the law. The only reason not to change the law, is that there are people that you are quite happy to let use those self-same loopholes, whilst castigating others you deem unsuitable.

That, to me smells very much like abuse of privilege or corruption.

But David please, please stop whining on about companies doing something they are legally entitled to do unless you're happy for everyone to stop using those same loopholes. Just change the fucking law.

Of course it could be he hasn't the fucking authority to do anything about it because its not his jurisdiction any more, the sackless wanker. EU rules allow companies to locate their head offices in any EU country and its common sense they will locate it in the EU country charging the lowest corporate tax rate. Yet another open goal UKIP refuse to put the ball into.

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