Taxies levied on turnover will turn the lights off
Sky News economics editor Ed Conway has an idea about how the likes of Apple, Google and Facebook can be taxed when they operate a slippery system of moving services around the world and as a result pay about £3.45 in corporation tax on billions of pounds in profits. He writes in the Times:
The way we tax companies needs to be turned on its head. Abolish taxes based on a company’s profits and replace them with taxes levied on their turnover.
In which case, good luck getting gas and oil out of the ground – and investing in making things more efficient:
Might be better if governments invested in their own nascent unicorns and beat the all-conquering US tech giants fair and square.
Spotter: Forbes
Posted: 13th, November 2017 | In: Broadsheets, Money Comment | TrackBack | Permalink
