They are in the papers again.
Google, this time its the ‘saucy thorn’ of tax avoidance . So, Vodafone, Amazon, GSK and a whole battalion of others routinely do it, and pretty much get away with it (more attempts at getting away with it here). Why not Google?
I would do it 😐
While there are those who argue that such schemes could backfire, the writing on the wall couldn’t be clearer. According to this article, £13tn (trillion) worldwide is being hidden in offshore tax havens. Quite a staggering figure considering the collective wealth of the UK is £10tn. So widespread are these schemes that HMRC loses a small fortune annually, by some estimates to the tune of over £25billion pounds although there are more imaginative estimates that put this loss at £95 billion.
Whichever way you look at it, huge amounts of money are being embezzled, in most industries, from Banking, Inventing, to Oil extraction. Withheld, and paid back to investors we are told (whom we can safely assume command greater allegiance from the corporations, than HMRC will ever do). Sums which if recovered could probably instantly wipe off a sizeable chunk off the budget deficit.
Surely, looking at the scale of the ‘problem’ clearly visible from the stats, I couldn’t possibly be the only one who thinks the world urgently needs an independent Financial Police, to establish some ground rules, and like I said before here, smoke the rats out.
- Recruiters face inquiry over £390m ‘tax avoidance’ scheme (telegraph.co.uk)
- Tax office in dodge claim (morningstaronline.co.uk)
- HMRC: taxman embroiled in 20,000 tribunal cases ‘costing billions’ (telegraph.co.uk)
- HMRC attacked for £390m avoidance scheme (telegraph.co.uk)
- HMRC strike over ‘40,000 cut in staff’ (scotsman.com)
- Tax revenue stalled by tribunals and lack of staff ‘in the billions’ (guardian.co.uk)
- British tax dodgers to be publicly named (english.ruvr.ru)
- HMRC ‘begins post-amnesty crackdown’ (simplybusiness.co.uk)
- ‘As many holes as a Swiss cheese’: the UK tax system loses money abroad (thebureauinvestigates.com)