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Turnover tax

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    Turnover tax

    Ken Livingstone proposed turnover tax
    possibly a perfect tool to stifle economic activity...

    #2
    It might be a legitimate way to approach transfer pricing. If 90% of turnover is offshored avoiding tax on profit why not tax it as turnover instead?
    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

    Comment


      #3
      If I remember correctly Ken allegedly used Ltd himself to get a big wad of cash which he later allegedly paid out in parts thereby avoiding (allegedly) high rate of tax.

      Turnover tax idea has got to be among the most cretinous ones as profitability varies massively in different sectors.

      Comment


        #4
        Originally posted by doodab View Post
        It might be a legitimate way to approach transfer pricing. If 90% of turnover is offshored avoiding tax on profit why not tax it as turnover instead?
        Why not have a transfer pricing tax and be done with it ?, just call it an offshore tax avoidance charge
        Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

        No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

        Comment


          #5
          Originally posted by MicrosoftBob View Post
          Why not have a transfer pricing tax and be done with it ?, just call it an offshore tax avoidance charge
          Why not have a government that stops pissing so much money into the wind?
          And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

          Comment


            #6
            Originally posted by MicrosoftBob View Post
            Why not have a transfer pricing tax and be done with it ?, just call it an offshore tax avoidance charge
            Good idea
            While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

            Comment


              #7
              Originally posted by doodab View Post
              It might be a legitimate way to approach transfer pricing. If 90% of turnover is offshored avoiding tax on profit why not tax it as turnover instead?
              As the article says, if you taxed turnover at 1% for Google, you'd get £30 million instead of £11; for Amazon it goes from £2.4m to £43m.

              Of course you'd have to piss off the big companies who aggressively avoid paying corporation tax in this country, so it's not going to happen.
              Originally posted by MaryPoppins
              I hadn't really understood this 'pwned' expression until I read DirtyDog's post.

              Comment


                #8
                Originally posted by AtW View Post
                If I remember correctly Ken allegedly used Ltd himself to get a big wad of cash which he later allegedly paid out in parts thereby avoiding (allegedly) high rate of tax.

                Turnover tax idea has got to be among the most cretinous ones as profitability varies massively in different sectors.
                So does VAT.
                Originally posted by MaryPoppins
                I'd still not breastfeed a nazi
                Originally posted by vetran
                Urine is quite nourishing

                Comment


                  #9
                  Originally posted by Mich the Tester View Post
                  Why not have a government that stops pissing so much money into the wind?
                  To do that involves having a smaller government and public sector, even Maggie struggled to do that!
                  Socialism is inseparably interwoven with totalitarianism and the abject worship of the state.

                  No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.

                  Comment


                    #10
                    Originally posted by DirtyDog View Post
                    As the article says, if you taxed turnover at 1% for Google, you'd get £30 million instead of £11; for Amazon it goes from £2.4m to £43m.
                    I don't know why Amazon always get attacked in these debates as they a) sell real things that cost money, and b) have always operated fairly low profit margins (arguably as a way to put others out of business but that's a different issue). Google, claiming they only make money in Ireland, is a bit more difficult to defend. Apple make terrifying profits everywhere in the world but somehow manage to not pay tax anywhere, and yet are never mentioned in these stories, no doubt because media types are drooling Jobsian fanbois.

                    And for companies that sell mostly to the public, VAT is a turnover tax.
                    Last edited by VectraMan; 7 February 2014, 12:04.
                    Will work inside IR35. Or for food.

                    Comment

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