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Transfer Pricing is a joke for UK tax payers
Apple will not give up the UK market.
We should legislate that they (and the others who are at it) declare the % of sales to UK customers and their worldwide profits and get them to pay CT on that at the UK rate if this is lower than the (joke) number they put on their current tax return.
It's not that simple
"We should legislate that they (and the others who are at it) declare the % of sales to UK customers and their worldwide profits and get them to pay CT on that at the UK rate "
Do you also think that UK companies that export abroad should pay taxes in the countries they export to? So a UK company exporting to (say) 20 different countries would need to understand 20 differrernt tax regimes, file tax returns in 20 different countries and hire accountants in each country? And if they got a new order from a new country would have to incur huge add-on costs to fufill the compliance requirements for that new country to fill one order so probably wouldn't bother?
So we might lose as much tax on exports as we gain on imports
Or maybe you think that the UK should have full taxing rights on all of any UK based companies' profits no matter where in the world they are selling to AND be able to tax non-UK companies on their UK sales?
You don't think that might not be acceptable to other countries?
It seems to be that every call for changes to international tax seems to work on the basis that the UK will only benefit and that all other countries will cheerfully give up their taxing rights to the UK.
IRISH TRANSFER PRICING
There should be equivalent privileges for the Northern Irish Government.
Perhaps the UK is frightened of being accused of discrimination but the Eire government is not.
The law of unintended consequences
Everybody in this argument States that they are abiding by the law and perhaps they are.
But as we all know it dosnt pass the smell test which is a prime test that should be used when looking at financial transactions,tesco take note!
Who knows what will happen when Scotland get devolved tax powers
We may get
A big dram,Cabre toss and a whiskey with double Dutch
Watch out hmrc
Until the world
economic gurus decide how to treat multinationals then we are always going to have problems. So the easy way is to have a licence to trade. Cost based on sales for the previous year.
This will run and run......
“As this is an ongoing legal process, Ireland will not be commenting further on any individual aspects of this case.”
I estimate In two years time this subject will surface again, by then I may have thought up a constructive comment / opinion. I am unsure if the Irish Government will have by then.
Thats the trouble with the EU, all the members want to cherry pick which rules apply to them. and which ones they can side step.