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Tax proposal

A lot of moaning about corporation tax in leftie-blogland today, for no particularly discernible reason. How about this as a ‘no big corporation tax dodging’ principle to adopt at G8:

* All countries adopt the current UK system of charging the parent company tax at the national rate for its home country, with all tax paid abroad offset up to the national rate for its home country

* Only companies that agree to adopt the practice above, and to nominate a registered country as their home country, are allowed to list on regulated stock exchanges

* G8 ministers decide which countries count as ‘registered’, based on principles such as ‘don’t take the piss’, ‘aren’t Ireland’, etc.

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  1. Falco
    July 10, 2009 at 9:15 pm | #1

    "A lot of moaning about corporation tax in leftie-blogland today, for no particularly discernible reason."

    They seem to have some odd blindspots regarding the difference between avoidance and evasion, the importance of the rule of law, the fact that money does not automatically belong in the hands of the government and finally, that Richard Murphy is stark staring bonkers.

    As for your plan, it seems reasonable but I suspect the effect would be a cartel of nations with higher tax rates and over powerful market capture, not something I'm in favour of.

  2. (a fake) Richard Mur
    July 12, 2009 at 10:07 am | #2

    When you say for no discernible reason, this is because you are too stupid to understand the brilliance of my intellect. I am a genius and I know this because I say so, and who would doubt a genius when they say I am a genius.

    I must dash. I have some faux academic nonsense to dream up before I rant about anyone who disagrees with me and accuse them being fascists.

    And all before my next dose of medication.

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