Microsoft Irish subsidiary paid zero corporate tax on £220bn profit last year
Meanwhile, our tiny two-person not-for-profit pays at the full rate and one of our highest costs is our accountant.
@aral yep, we closed down the visionontv not for profit compay after 10 years as the running costs were just to high in the end. now useing a openclective.
Did you hear about the village in Wales, where all of the local businesses grouped together to hire an accountant+lawyer to exploit the same loopholes that the large companies are using?
They set up an offshore company in the Isle of Man that used identical structures to the large corporates, and used the same tax breaks.
Expensive to do for a single business, but when you have 20 local businesses sharing the costs, it's affordable.
HMRC freaked! :D
@BillySmith Hahaha, I don’t know whether to laugh or cry, really. Good on them, I guess. But bloody hell, this world… :)
@BillySmith @aral
I actually find this to be a good thing!! Although let's face it, with something like this the government will react. If it was only the #bigcompanies and not the #ordinaryfolks, then the #taxscam would go for ages ...
"We don't pay taxes; only the little people pay taxes" - Leona Helmsley
"There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning." - Warren Buffett
Food for thought.
Did you know about this @jaz ?
@manuelcaeiro @BillySmith @aral I remember reading about it, it really shows the stupidity of tax laws. At the end of the day, it's people who pay taxes, businesses will always find a way.
@BillySmith
How does it go? "Fine for me, but not for thee" or something like that.
@aral
@aral @BillySmith delaware corporation, nevada corporation etc.. isle of man is another good place for shell cos..
@aral This is what you get with the Operating System called Capitalism
@aral Non-profit organisations pay tax in your country?
@stevefoerster Non-profit organisations: yes. Some charities: yes. Some charities: no. (Charitable status is separate from tax-exempt charitable status.)