Submitted on Tuesday 9th February 2016
Published on Thursday 11th February 2016
Current status: Closed
Closed: Thursday 11th August 2016
Signatures: 14
Make tax fair - apportion multinational profit to UK based purely on salary bill
Multinationals minimize tax by arbitrarily moving profit to low tax countries. The law must be simplified to stop this. One way is to apportion profits to a country based on relative salary costs. That way companies pay more tax for a bigger workforce. Google would then have to pay their fair share.
I run a technology company with offices in the US and UK. Due to the nature of technology, it's not easy to define the relative contribution each part of the company makes to profit. It's not surprising that HMRC finds it difficult to do this with multinationals and their opaque profit-passing structures. Salary bills are the most clearly defined cost, and tie in with a sense of fairness based on headcount. Agreement between US and EU authorities would be needed. Tax must be seen to be fair!
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18.217.252.194 Fri, 22 Nov 2024 11:54:55 +0000
