How much tax will Apple Pay in UK if they move to post BREXIT Britain?(15 Posts)
Just that really. They have been paying 0.005% apparently. One more or one less zero may be. For all I care. EU ordered them to pay taxes on their profits. UK offered them to move here if they like. How much will they pay here then? I am sure Post BREXIT Britian would like to cater to its poor, not corporations again?
Why would they move here when the whole point is to have the office based in the EU?
And yes, I know we haven't left yet but as a long term plan...
yeah they wanted an office in EU but then they didn't want to follow EU rules.
Must be great being in a big corporation. Go to a country & tell that country what tax rate you'll pay. May as well claim to own the entire govt, really. Gosh, I can't wait until we too in UK have that type of "sovereignty" when we face up to multi-nationals.
One of the suggestions for Brexit is to have the lowest corporation tax in a functioning country to entice Apple and it's like in a similar way to Singapore. If that's the route, Apple may find its paying no corporation tax at all if it based in the UK. Tax is only for the little people after all.
Wasn't it Leonora Helmsley who said that tax was only for the little people? I seem to remember that she came unstuck in the end.
Apple won't last forever. At one time IBM was the big name in Computers, but they didn't forsee the desktop revolution. Nokia was mobile phones, Blackberrry, where are they now ? We could keep going on like this.
She was Peregrina, and I agree that Apple will go the same way as the others. Unfortunately I don't think aggressive tax avoidance will. Given that google's company motto is "don't be evil" and they're not exactly pristine on the tax minimisation issue, I doubt those coming after will be better.
I think that Britain post brexit will actually offer lower tax to multinationals rather than stop it. Big multinationals based in your area contribute a lot excluding the corporation tax issue such as employment, taxes from wages, local purchasing etc. The government will want multinationals in the UK but lots will consider restructuring operations post brexit if they perceive they need an EU base to have competitive advantage. And the thing with multinationals is that they can pick where they go. A large office base is not the same as a sales office so I am not saying they won't want to keep selling to the UK public. To keep them we will need to offer sweeteners which will typically be grants or low tax rates.
Post-Brexit the UK will become a tax haven in order to get companies to stay. You may say that having a multinational company here not paying tax is still okay because of jobs etc, but actually the people are paying taxes while companies are just stripping all the money from the country, while contributing nothing overall. Ask the local population of other tax havens how it's worked out for them! Often the company doesn't actually employ staff in these places, just rents a desk in buildings containing hundreds of thousands of companies.
Plans were being made within the EU to harmonise tax systems. These were badly received due to fears over greater fiscal unity (which is a valid point), but these plans would have meant corporations couldn't 'hide' from tax in one EU country which facilitated tax evasion. If companies wanted access to the EU market then they would have been forced to pay the appropriate taxes.
"Big multinationals based in your area contribute a lot excluding the corporation tax issue such as employment, taxes from wages, local purchasing etc."
campervan not if they mainly employ low-paid workers who pay very little or no tax or National Insurance. Indeed, if they are paid under the threshold, the employer pays no NI either. What's more, many low-paid workers get in-work benefits such as working tax credits and housing benefit, so that instead of receiving money from their employment, the Exchequer is shelling it out.
Add to that the money spent on infrastructure, both general and specific (e.g. the road for which the Welsh Government paid over £3m to link Amazon's Swansea warehouse with the road network) and grants (such as the £2.5m the Scottish Government gave the same company).
The UK taxpayer can actually be out of pocket by having multinationals here. Kevin Farnsworth's report, "The British Corporate Welfare State:
Public Provision for Private Businesses" is worth a read - available here speri.dept.shef.ac.uk/wp-content/uploads/2015/07/SPERI-Paper-24-The-British-Corporate-Welfare-State.pdf
Indeed. The thing that annoys me about Working Tax Credits is that - quite apart from the onus put into individuals to claim them (and the angst if you are accidentally/inadvertently overpaid ) - the government is effectively subsidising the profits of
especially the large low paying companies.
I actually think that introducing tax credits was a mistake by the Labour Party.
But anyway, that is a digression from the subject of this post - but does give an excuse to post up this relevant graphic. It's a couple of years old now - but somehow I don't think the proportions will have changed If anything, they'll have got worse.
Post-Brexit the UK will become a tax haven in order to get companies to stay. You may say that having a multinational company here not paying tax is still okay because of jobs etc, but actually the people are paying taxes while companies are just stripping all the money from the country, while contributing nothing overall
And of course that's what Brexiteers complain about the EU.
Sorry everyone. I have been lurking but too engaged in some personal matters to actively take part with amazingly informed people on EU referendum posts.
unicorn and peregrina
I totally agree with you. The whole point about getting our nation back kinda looses appeal when you know
1. It will be the little people paying up for how the £ is tanking even before Brexit has actually got a set date (No! Of course I don't believe May to stick to it.infact, the only thing they will probably stick to is not sticking to a date.)
2. We already look like fools asking for giant multinationals to come here on THIER terms. They can pay taxes if they feel like it too of course.
If they don't get the right talent at the right time, are you ready to offer them the right to choose their employees from around the world too? What's the point of Brexit then? And what if they don't get enough talent locally to sustain their business? Do we have some kind of plan in place for that?
What is your response to points raised by patty and pretty?
It's mind boggling even after nearly four months.
I said it on here at some thread that I believe Theresa May is actually using the Brexit jobs in her cabinet as scapegoats. She is playing very clever. She knew what the "impact" of her words like "citizens of nowhere" would be and how the context won't matter as much and she used it very cleverly to play both sides.
In my humble opinion, the whole game is still going towards "ah Brexit can't be done and these arses lied to you so hey I am kicking them out of my cabinet but see I genuinely truly totally tried for you my little people!"
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