Denmark bans companies in tax havens from accessing state aid

[DianaT1969]

Love this decision. Also, no dividends or share sale/buybacks allowed for 2020 and 2021Why isn't the story being picked up by more UK press? No article on BBC or Mail. Too far up the arses of rich tax exile business owners? Instead, both are reporting an open tax bailout begging letter from Richard "you're on unpaid leave" Branson.
As a Danish spokesperson said, the tax handouts should benefit Denmark and not be transferred to an island on the other side of the world.
www.thisismoney.co.uk/wires/reuters/article-8237077/Denmark-blocks-firms-registered-tax-havens-state-aid.html

[LemonsNVod]

The U.K. government needs to do this too.

[DianaT1969]

Title should say 'Denmark bans companies in tax havens from accessing state aid'

[JoMumsnet]

@DianaT1969

Title should say 'Denmark bans companies in tax havens from accessing state aid'

We've edited this for you now, OP.

[ThanosSavedMe]

Wish ours would do that too but we know they won’t. Oh there’d be a ‘good’ explanation for it I’m sure

[PerplexingWords]

I love this. I am sure someone with better financial understanding and/or a Conservative viewpoint will come along soon and rubbish this, but it makes sense to me. In fact I feel it is the only morally correct viewpoint.

[DianaT1969]

Yes, I suspect the reason why it isn't being widely reported is because editors are working out how to spin it to persuade the public that a similar decision would have negative repurcussions for the UK.
This is a wonderful opportunity for the UK to make businesses think twice about using a tax haven.

[Theyweretheworstoftimes]

We should do this.

But if we let companies that employ lot of people fail then we have to accept the consequences of that decision.

[DianaT1969]

For the staff who would lose their jobs without an additional tax bailout such as Virgin, I'd like to see UK companies fill the gap as demand picks up. Virgin is already benefitting from furlough and loans like every other UK business, but still claiming they'll go under without more help (Branson's recent letter timed to counteract the Danish decision no doubt).

[justanotherneighinparadise]

This reminds me of a YouTube video I watched last night where an Australian man tried to get a refund from a supermarket for over a hundred 32x packet of toilet rolls and over a hundred one litre bottles of hand gel. This occurred due to the government preventing the resale for profit of items such as these.

The manager of the supermarket told him to piss off. It was glorious.

[Bumfuzzled]

The Torys will not do this. The whole tax haven issue was the main trigger for Brexit. The big UK companies who use tax havens will put pressure on the government (again) if they try to allow this. Plus lots of MPs have financial dealings in these companies too. It’s not in either their personal or party interests.

[Noname99]

What do you think will happen to all of the employees of these companies .....?

[vanillandhoney]

The problem with this is it's the employees that suffer, not the CEO's or owners.

[DianaT1969]

What will happen to the employees? The same as will happen to employees of companies which do pay their corporation taxes here. Some jobs will be lost and some fail. For example, lots of retail and hospitality jobs won't survive this, regardless of whether their company paid corporation tax here. This is our chance not to reward companies who deliberately practiced tax avoidance on a massive scale.

[DianaT1969]

There is still a welfare system for anyone who loses their job. Freelancers are experiencing it right now with around £390 UC a month. If Amazon, Google and other tax avodant companies paid taxes here, UC might not be so pitiful (obviously doubtful under the Tories, but they'd have more money to reward themselves and the House of Lords with).