Maria gurgled happily, sounding much like they were
Did you follow the link at the bottom of the article to the "fully
referenced version" on Monbiot's site?
I remember the "reductions" which took corporation tax from 10% above ten
grand to 19% on everything...
He's made a mess of it.
He says the UK will have the lowest rate of corporation tax in the developed
west by 2014, then complains that companies based here will have an
incentive to shift "business" (whatever that means for tax purposes) "into
nations with lower corporate tax rates".
Ergo they'll have an incentive to repatriate business to the UK.
"The new rules also threaten to degrade the tax base everywhere, as
companies with headquarters in other countries will demand similar measures
from their own governments."
How dare they demand lower taxes on production, leading to cheaper goods and
services for the consumer.
"DVH" gurgled happily, sounding much like they were
Only if you ignore that little caveat...
Ireland's corporation tax rate is currently 12.5%. Ireland clearly
doesn't count as "developed west".
Is a call centre a profit centre or a cost centre?
I'm not yet convinced this is worth a hoo-hah.
i.e. if you offshore your call centre, where is the taxable transaction
done? I'm dubious it's done offshore.
I want more detail...
There are people posting on the Telegraph site that what it actually
means is that foreign corporations will be able to have branches here
and not have to pay any tax here at all. People seem to believe it -
they seem to believe anything anyone says as long as it has 'Tory ****'
in there somewhere.
I read a bit of the treasury document (really short of time at the mo),
and what he actually wants to do is follow on from Labour, who did the
same thing with foreign-earned dividends by making them exempt from CT
in the UK.
What I don't get is why the 'Tory' press is not reporting it - or
perhaps they are and I just haven't seen it. Surely an end to double
taxation is a good thing.
It's in here anyway
Or you could try the Economic and Monetary Union. The low interest
rates on the euro caused an unsustainable construction boom, and when
it came to an end, construction companies went bankrupt, people became
unemployed, many were not able to pay their mortgage nor sell their
property and thus banks suffered massive losses and had to be bailed