should only poor people pay tax?

[nick mercedes]

Tory treasurer wants UK to become more like a tax haven | Business | The Guardian

Turns out those in charge of us don't like paying tax and tend not to bother, should the UK become a tax haven for the super-rich, or are the taxes we pay fair and reasonable?

 

[MOCAŠ]

Firstly, this is about corporate taxation - there's no suggestion in the article that those named are not paying their personal income tax. Furthermore, Lord Fink's proposal relates only to invisible earnings, and he makes a fair point that ought to be considered.

What's clear is that the current taxation laws are a mess, with myriad loopholes and new ones being found as soon as existing ones are closed. It needs reform, and that's essentially what Lord Fink is calling for.

And don't forget that the poorest in society pay no tax at all, and the Government is committed to lifting more people at the bottom end out of taxation.

 

[renault12ts]

Everyone pays tax...even the poorest in society. They just don't pay income tax...but the tax on goods and services...VAT.

A tax haven would attract businesses who would then pay tax which is not already being collected...a net gain. Is that a bad thing?

It's politics which prevents us having a more streamlined, efficient tax system...which would result in a greater tax take. Politicians play to the lowest common denominator in society...those who are jealous of others...rather than seeing the benefits of reform.

 

[Scott_F]

Everyone pays tax...even the poorest in society. They just don't pay income tax...but the tax on goods and services...VAT.

A tax haven would attract businesses who would then pay tax which is not already being collected...

.....Whilst encouraging every corporation already based here to register elsewhere and take full advantage of the UK's new tax haven status. Not great news for the national coffers.

 

[renault12ts]

You're right...let's not change a thing.

 

[davidjpowell]

It's an interesting idea, and would make an interesting discussion.

But there being more worker bee's than high earners voting, it's a brave politician who would take it up in this country with today's press.

 

[Scott_F]

You're right...let's not change a thing.

But changes are sorely needed.

Especially the sort that encourage large corporations to pay their fair share of tax rather than offering them yet more loopholes. They're already pretty good at finding those for themselves.

 

[renault12ts]

If we attract more companies, employing more people, then tax (income tax and National Insurance and Corporation Tax) payments will increase, and the direct taxes like VAT too.

The balance lies between trying to stop some of the loopholes, whilst at the same time not discouraging business to set up...or remain.

 

[Scott_F]

If we attract more companies, employing more people, then tax (income tax and National Insurance and Corporation Tax) payments will increase, and the direct taxes like VAT too.

The balance lies between trying to stop some of the loopholes, whilst at the same time not discouraging business to set up...or remain.

But it doesn't encourage job creation - tax haven status merely encourages corporations to register in such places as a "front". They may employ a few office staff but their real business with the associated jobs will take place wherever it has always done.

 

[janner]

Yeh, if you encourage businesses to base here but not produce anything we'll end up as poor as the Cayman Islands, Liechtenstein, Monaco, ...ahh..mmm..hang on...

..Simple fact is, you can often increase tax revenue by decreasing tax rates, especially for weathly people, businesses and moveable assets.

 

[developer]

In Birmingham the council are to make people on benefits pay some council tax.

Figures aren't declared yet, but it will be an example of the poorest paying tax ( aside from the issue of those who are perceived as milking the benefits system).

 

[mattc]

Yeh, if you encourage businesses to base here but not produce anything we'll end up as poor as the Cayman Islands, Liechtenstein, Monaco, ...ahh..mmm..hang on...

..Simple fact is, you can often increase tax revenue by decreasing tax rates, especially for weathly people, businesses and moveable assets.

all very small populations (less than 60,000 in any of them). Not sustainable for a country with 63 million in it.

Agreed with the 2nd paragraph though.