ChatterBank0 min ago
She’ll - Highest Profits Ever
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we’ve been here before but now the scale of their profits have brought it back into the news.
yet of all that stupendously huge sum, only 5% is made on the company’s uk operation, the rest is made and taxed elsewhere.
a bigger windfall tax on shell would be a popular move right now. but would it be right - morally or otherwise - to tax profits made overseas and which have already been taxed?
we’ve been here before but now the scale of their profits have brought it back into the news.
yet of all that stupendously huge sum, only 5% is made on the company’s uk operation, the rest is made and taxed elsewhere.
a bigger windfall tax on shell would be a popular move right now. but would it be right - morally or otherwise - to tax profits made overseas and which have already been taxed?
Answers
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Companies register and pay tax in areas which have low corporation tax, and why wouldn't they?
It's why Amazon is registered in Luxembourg and pays tax on its European profits in Luxembourg.
Areas with low corporation tax attract inward investment (look at Ireland in the past), which in turn creates employment with the employees paying tax etc...which is why the decision to increase UK corporation tax from 19% to 26% is a bad idea; it will stifle investment.
It's why Amazon is registered in Luxembourg and pays tax on its European profits in Luxembourg.
Areas with low corporation tax attract inward investment (look at Ireland in the past), which in turn creates employment with the employees paying tax etc...which is why the decision to increase UK corporation tax from 19% to 26% is a bad idea; it will stifle investment.
Governments do tax companies on wealth extracted from foreign nations. Highly questionable morally, but it's the world we live in.
As for whether Shell's 'excessive' profits needs a further windfall tax, I reckon it depends on how much was gained from additional effort on their part, and how much just fell into their lap from the unusual situation the world finds itself in. Is it a windfall, or did they really earn it ?
As for whether Shell's 'excessive' profits needs a further windfall tax, I reckon it depends on how much was gained from additional effort on their part, and how much just fell into their lap from the unusual situation the world finds itself in. Is it a windfall, or did they really earn it ?
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