Taxing Times for US Multinationals – NOT!

Accusation

The UK government is dragging its feet on reforming international tax rules and allowing large companies to shift profits around the world and pay small UK tax bills.

Four of America’s best known businesses – Amazon, Facebook, Google UK and Starbucks – have paid just £30m in tax over the past four years despite generating more than £3.1bn in sales.

Recommendation

Overhaul the tax rules so that multinational companies are required to apportion their taxable profits according to factors such as where in the world sales are made, where the workforce is located and where capital is invested.

Representation

Neither the Treasury or HM Revenue & Customs would comment on specific cases. A spokeswoman for the Treasury said: “The government is committed to ensuring that the right amount of tax is paid on all profits made in the UK.

AYE RIGHT!!!

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6 Comments

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