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AstraZeneca Paying No UK Corporation a Tax

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    #11
    Originally posted by meridian View Post
    Poor reporting yet again. Global profits of £4.5 billion, but their Dutch sandwich only generates a tax-deductible interest payment of £140m? Sensationalised for the masses.
    If UK division is not profitable for them, then why are they keeping it???

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      #12
      AstraZeneca Paying No UK Corporation a Tax



      http://www.ft.com/cms/s/0/46aa42bc-b...#axzz3nhTe9d3s
      Last edited by PurpleGorilla; 5 October 2015, 13:37.
      http://www.cih.org/news-article/disp...housing_market

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        #13
        Get the pitchforks out.

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          #14
          Rolls-Royce has a huge presence in the UK. They directly employ over 21,300 people, and through their supply chains and employee spending support around 106,000 people. That accounts for about one in every 300 UK jobs.

          So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?
          But I discovered nothing else but depraved, excessive superstition. Pliny the younger

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            #15
            Originally posted by Gibbon View Post
            So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?
            No.

            Personally I think UK companies should have deduction from corporation tax due made from other taxes they generate - employer NICs, employee income tax/NICs, business rates etc - all that should be taken into account before charging corporation tax on profits.

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              #16
              Originally posted by Gibbon View Post
              Rolls-Royce has a huge presence in the UK. They directly employ over 21,300 people, and through their supply chains and employee spending support around 106,000 people. That accounts for about one in every 300 UK jobs.

              So if we take the average wage as 26.5K then RR economic activity in the UK contributes conservatively £800 million to HMRC per year (Employer and Employee taxes). Do we really want to persuade them to FO to more grateful countries?
              On £1.6bn of revenue, IMHO they should be paying more than £0.00 in corporation tax.

              Otherwise, what is the point of Corp Tax? To scr€w small business?
              http://www.cih.org/news-article/disp...housing_market

              Comment


                #17
                Originally posted by PurpleGorilla View Post
                On £1.6bn of revenue, IMHO they should be paying more than £0.00 in corporation tax.

                Otherwise, what is the point of Corp Tax? To scr€w small business?
                Corporation tax is paid on profit, not on revenue. There's a simple calculation for working it out that doesn't rely on your opinion.
                Will work inside IR35. Or for food.

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                  #18
                  Originally posted by VectraMan View Post
                  Corporation tax is paid on profit, not on revenue. There's a simple calculation for working it out that doesn't rely on your opinion.
                  Which leads to the Big Co with a UK revenue of £10bn, but buys a paper clip from it's office in the Cayman islands, for £2bn, wiping out the profit. UK tax paid zero.

                  Of course there is the corp tax to pay on the paper clip, which is charged at the Cayman island rate of 0%.

                  So that is all okay then?
                  First Law of Contracting: Only the strong survive

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                    #19
                    Originally posted by _V_ View Post
                    Which leads to the Big Co with a UK revenue of £10bn, but buys a paper clip from it's office in the Cayman islands, for £2bn, wiping out the profit. UK tax paid zero.

                    Of course there is the corp tax to pay on the paper clip, which is charged at the Cayman island rate of 0%.

                    So that is all okay then?
                    And the clever chap who came up with that will get a tasty bonus. Just like the team at Volkswagen who coded the emissions test subroutine.
                    http://www.cih.org/news-article/disp...housing_market

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                      #20
                      Originally posted by PurpleGorilla View Post
                      And the clever chap who came up with that will get a tasty bonus. Just like the team at Volkswagen who coded the emissions test subroutine.
                      Chances are that both will be "retired"...

                      suity should run while he can...

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