Submitted on Friday 2nd December 2011
Published on Monday 5th December 2011
Current status: Closed
Closed: Wednesday 5th December 2012
Extortionate Essential Services Profit Tax
Those companies that supply essential services to individuals such as electricity, water, heating and public transport should have their profits limited.
If a company supplying an essential service then if they make in profit after tax, reinvestment and shareholder payment allowance. Then if that profit equates to 10 million in profit or more in todays money, then any profit after that is taxed at 50%.
Anyone avoiding or attempting to avoid paying the tax by finding up loopholes, or setting up sister companies or companies owned by same set of share holders designed make the profit appear less to face jail terms.
Treasury body to impose tax if profits are deemed to have been generate but at a later point transferred abroad.
Furthermore the same tax should apply to companies that supply or sell services to the Government or Local Government (excluding Defence where it is deemed necessary for national security)
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