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'The Tax Party Is Over' Multinational Companies Told By OECD
Pascal Saint-Amans, head of tax policy at the OECD is leading the charge in an attempt to crack down on what the OECD sees as the abuse of the international tax affairs of multinational Companies.
Is this so? Maybe not; the tax affairs of companies such as Amazon, Apple and Starbucks are according to the OECD, appalling; however they are doing nothing illegal. Who can blame the heads of multinational companies when they try to improve profitability to the benefit of their investors, many of which are private individual's pension funds? What I cannot understand is this moral attack on Companies and individuals who by legal means try to minimise their tax liability. What rule says we are required to pay the maximum amount of tax to wasteful governments and politicians?
Investors in multinational and national companies take risks when making investments. Successful companies provide employment to millions of people who are all paying their tax and contributing to the exchequers of the countries they are employed in. These people also have money to spend, thus creating even more employment. It's the circle of economics.
What is this constant attack on taxation by politicians and members of the public who support the 'moral argument' about taxation, many of whom are on low income or out of work and supported by the poor buggers working hard for a living.
One tax that really does cause the most anger in me is the biggest con-trick in Europe and that's Value Added Tax or VAT. Who thought that one up at currently 20% in the UK? This is licensed Government theft. It is beyond outrageous and needs to be abolished. Why not give working people a chance to enjoy their labours and goods and services they desire without effectively being taxed twice.
The whole political and taxation system needs a complete overhaul to give everyone a chance to enjoy life.
Just one example of the crass stupidity and self-interest of politicians, is an interesting article this week in The Cyprus Mail about Cyprus politicians arguing about their entitlement to a government limousine. This is a country brought to its knees by ignorant, uncaring and selfish politicians and bankers, and they are worried about how they are transported around. It beggars belief.
This article is by Charles Farran and as such, is his personal views and not that of the Company.