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Anorak | Taxies levied on turnover will turn the lights off

Taxies levied on turnover will turn the lights off

by | 13th, November 2017

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 | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink