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  #1  
Old 12-02-2020, 11:14 PM
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Tax Avoidance

On newsnight it was said Amazon pays only 2% tax.

How can that be changed?

Aldershot?
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  #2  
Old 12-02-2020, 11:22 PM
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Quote:
Originally Posted by cockneyrebel View Post
On newsnight it was said Amazon pays only 2% tax.

How can that be changed?

Aldershot?
Vote Tory.
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  #3  
Old 12-02-2020, 11:30 PM
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2% of what?
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Old 12-02-2020, 11:32 PM
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Originally Posted by Shamone View Post
2% of what?
10 billion revenue. I assume they make a big profit.

One part of their business, below, pays £14 million in tax.

Quote:
The group’s annual filing at Companies House revealed that sales rose 18% to £2.3bn and pretax profits 4% to £75.4m for the division, which accounts for more than a quarter of the group’s UK sales. Amazon does not reveal profits or corporation tax payments for its entire UK operation, which would include its retail business as well as warehouses and logistics.
If my maths are right that’s about 19% tax on the profit. Which is criminal given what normal workers pay.

Last edited by cockneyrebel; 12-02-2020 at 11:37 PM.
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  #5  
Old 12-02-2020, 11:38 PM
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Originally Posted by cockneyrebel View Post
10 billion revenue. I assume they make a big profit.
So you're asking how we can stop companies paying 2% tax on their revenue? What percentage of their revenue would you like them to pay tax on?
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Old 12-02-2020, 11:41 PM
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Quote:
Originally Posted by cockneyrebel View Post
10 billion revenue. I assume they make a big profit.

One part of their business, below, pays £14 million in tax.



If my maths are right that’s about 19% tax on the profit. Which is criminal given what normal workers pay.
What’s the cooperation tax rate in the uk?

Last edited by Hpalace; 12-02-2020 at 11:44 PM.
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  #7  
Old 12-02-2020, 11:42 PM
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Originally Posted by cockneyrebel View Post
If my maths are right thatís about 19% tax on the profit. Which is criminal given what normal workers pay.
Criminal? Do you factor in the Employer's NI they have to pay? And pension contributions?
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  #8  
Old 12-02-2020, 11:45 PM
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Originally Posted by Shamone View Post
Criminal? Do you factor in the Employer's NI they have to pay? And pension contributions?
Profit is profit no? So that should be taxed far higher than 19% when companies are making 75 million.
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Old 12-02-2020, 11:47 PM
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Whatís the cooperation tax rate in the uk?
And do you reckon the tax ends there? It doesnít. Check out the higher rate dividend tax rate add 19% to it and itís quite funny.
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  #10  
Old 12-02-2020, 11:48 PM
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Quote:
Originally Posted by cockneyrebel View Post
Profit is profit no? So that should be taxed far higher than 19% when companies are making 75 million.
Perhaps but the reason it is lower is so companies not paying dividends can reinvest. Those paying dividends wonít want to be ltds and paying 19%
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Old 12-02-2020, 11:53 PM
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Perhaps but the reason it is lower is so companies not paying dividends can reinvest. Those paying dividends wonít want to be ltds and paying 19%
Exactly, that money is still in the business and either generates revenue for other corporations if it reinvests it or is distributed and taxed the **** out of on a personal level.
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Old 13-02-2020, 12:01 AM
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Given the subject I think this thread should be renamed “**** me, amazon are actually paying the full rate of cooperation tax” as that in itself is the most surprising thing.
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Old 13-02-2020, 12:11 AM
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I'm sure there are plenty of other countries throughout Europe that would have Amazon based in their country paying less taxes than they pay in The UK.

After Brexit, it may come to this anyway.
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Old 13-02-2020, 12:14 AM
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I'm only going on what was said on Newsnight.

But if as the guardian article states, Amazon is only paying £14 million of tax on profits of over £70 million that seems totally morally wrong.

However Aldershot has mentioned many times how hard it is to change that. I wondered if it was possible.
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Old 13-02-2020, 12:18 AM
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Quote:
Originally Posted by cockneyrebel View Post
I'm only going on what was said on Newsnight.

But if as the guardian article states, Amazon is only paying £14 million of tax on profits of over £70 million that seems totally morally wrong.

However Aldershot has mentioned many times how hard it is to change that. I wondered if it was possible.
Of course it is possible. Put up cooperation tax.

However with that every % it goes up means a % of less investment.
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Old 13-02-2020, 06:18 AM
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Quote:
Originally Posted by cockneyrebel View Post
On newsnight it was said Amazon pays only 2% tax.

How can that be changed?

Aldershot?
Read this. It’s probably the most relevant thing you can read about this subject at the moment. If this wasn’t mentioned you can safely assume that the commentators don’t have a ******* clue what they were opining on.

To view the link you have to Register or Login
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Old 13-02-2020, 06:23 AM
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They returned an LP to us yesterday, with no packaging, not even a bag, just Amazon address stickers stuck directly to the outer sleeve. I think that justifies 100% tax, to be honest.
They have already subtracted the value of the record from their next payment; and if we try to explain to them they they rendered the record unsellable, we enter into a dystopian system, devoid of intelligent human life. It will have to be written off as a cost of doing business with them. The competitive advantage of deskilling.
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Old 13-02-2020, 06:27 AM
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Quote:
Originally Posted by cockneyrebel View Post
On newsnight it was said Amazon pays only 2% tax.

How can that be changed?

Aldershot?
That much! Must be a mistake. Someoneís for the boot.
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Old 13-02-2020, 07:08 AM
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Quote:
Originally Posted by El Aguila View Post
They returned an LP to us yesterday, with no packaging, not even a bag, just Amazon address stickers stuck directly to the outer sleeve. I think that justifies 100% tax, to be honest.
They have already subtracted the value of the record from their next payment; and if we try to explain to them they they rendered the record unsellable, we enter into a dystopian system, devoid of intelligent human life. It will have to be written off as a cost of doing business with them. The competitive advantage of deskilling.
Possibly a daft question, but why did they send it back?
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Old 13-02-2020, 07:24 AM
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They order new releases in bulk, and don't always sell them all.
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