17 1 min 5 yrs

@jeremycorbyn

Yesterday Google announced its UK tax bill will be just £50 million despite nearly £6 billion of sales in our country.

The Leader of HM Opposition seems to think that firms pay tax on revenue. But then he is a Marxist. If he knew anything, or had ever grown out of adolescent angst, he’d be something else.

Anyone know a good Jewish accountant who can put him right?

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17 thoughts on “ERM ..

  1. “There are only two places where socialism can work; Heaven, where it is not needed, and Hell, where they already have it,”

    Winston Churchill.

  2. He is of course correct to point this out, because I’m sure Google have good accountants, accountants that will use transfer pricing, management fees and other legal practices that will reduce the tax Google will pay in the UK.

    So, while Google takes 6 billion from the UK it transfers most of the wealth out of the country.

    Just because it’s Corbyn that makes the point don’t have a knee-jerk reaction.

    Yours sincerely,
    Irish Chartered Accountant

  3. You don’t pay taxes on gross sales

    If you did, every company in the world would go out of business.

  4. So, while Google takes 6 billion from the UK …

    It puts more than 6 billion into the UK, via its services.

  5. Everyone here uses google, and has found it useful. How much has google charged us?

  6. Ye are missing the point, I’ll be generous and suggest Ye are arguing for argument sake.

    Below the line expenses can and are manipulated. I’ve already pointed this out. So you need to bring it back to a common denominator. Revenue is a good one to use as a yard stick.

    Apart from google there is yahoo and numerous others. But providing a good service does not preclude the payment of taxes. First of all who decides who provides such a tax free service?

    For me Liverpool FC provide a great service and should pay zero tax, whereas Man U would pay 100% tax.

    What Corbin said makes perfect sense.

  7. Companies pay tax on net profit not gross revenue

    Does Corbyn even know this?

    What tax should they pay, and how do you arrive at that number?

  8. What Corbin said makes perfect sense.

    Yea, except that it’s illegal and idiotic. Apart from that, it makes sense.

  9. No, companies do not pay tax on net profits. Companies pay tax on tax adjusted profits.

    That’s tax 101. A little knowledge is a dangerous thing. Corbyn is not saying a company should pay tax on Revenue. That’s clear unless you’re biased.

  10. smcgiff –

    Corbyn clearly stated that a company should pay tax on revenue.

    Jeez, the man makes Nick Griffin look like a rabbi but you’ll defend him to the end. Get over yourselves.

  11. Companies pay tax on the profit in each state that they operate in. But Google and the rest of the gang shift their profits to low or no tax states. So Mega Tech Inc Bermuda lends $5billion to Mega Tech Inc UK and charges 10% interest which (until recently) was a totally allowable expense in the UK and a tax-free profit in Bermuda. Similar scams include “royalties” paid from high tax states to no tax states. Which is why there are so many daily flights from London City Airport to Luxemburg and Dublin and Amsterdam.

    And the result is that Mega Tech UK has huge UK sales but pays little or no UK tax. It’s not rocket science. The UK introduced a diverted profits tax recently which may well curb the worst excesses of this blagging, but I agree that a tax on revenue is stupid and an admission of failure.

  12. Okay, I’ll assume English isn’t the first language of those posting here. That makes more sense.

  13. Corbyn isn’t entirely blind to numbers……..

    https://twitter.com/LeaveEUOfficial/status/979331640987176960/photo/1

    Low-grade MP David Lammy is reporting the above to the police…..

    Hello @metpoliceuk I would like to report this crime. Please investigate. This tweet is a crime under the Racial and Religious Hatred Act 2006: “Use of threatening words or behaviour, or any written material which is threatening or intends thereby to stir up religious hatred.”

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