Grade Corporation Tax twixt UK Profit and UK Turnover

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Grade Corporation Tax twixt UK Profit and UK Turnover

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Suggested legislation - All companies that operate within the boundaries of the UK tax authorities should be required to pay Corporation Tax according to an "equitable" formula based on UK profitability and UK turnover.

The purpose of this legislation would be to close off tax loopholes whereby companies channel profits through off-shore subsidiaries, whose only purpose is tax avoidance.

The basic concept is: "If you operate in our economy, you pay your fair share in our economy".

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