Maya Forstater on Twitter: "George. I used the only year for which data was available for the proposed IFF SDG indicator (which doesn't look at tax payment but profits, sales, staff). I wasn't trying to do something tricksy, just seeing how what it looks like w real life numbers. Because that matters… https://t.co/RJHfc2kNPm"

@MForstater

Business and sustainable development. Accountability. Tax. Feminist test case. Media: Tom Gardner at Slater & Gordon 0207 657 1690 press@slatergordon.co.uk

https://medium.com/@MForstater

Joined September 2008

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iain campbell‏ @iaincampbell07 29 Jun 2018

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Replying to @MForstater @DanNeidle and

The final sentence then admits the indicator will be at inaccurate. So how big is that and why try to use this artificial benchmark? Is it not like using the policy gap to redefine and remeasure the tax gap.

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Maya Forstater‏ @MForstater 29 Jun 2018

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Replying to @iaincampbell07 @DanNeidle and

OK so I tried the indicator calculation out on Pearson (since they publish CBCR)pic.twitter.com/BHT6A0yYzI

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Maya Forstater‏ @MForstater 29 Jun 2018

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Replying to @MForstater @iaincampbell07 and

Here is the result. A billion of IFF/profit shifting out of the US (in order to increase its loss there?!?) into mainly UK & China https://docs.google.com/spreadsheets/d/1J6a_fYcthaaD5MKtfyV971-foP1aVI3TcmDAy1KalNk/edit?usp=sharing … Not sure this makes any sense ( or sits with illicit arms sales, stolen assets & organised crime?)pic.twitter.com/iD1OsKHvxo

3 replies 1 retweet 1 like

George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @MForstater @iaincampbell07 and

That report you are using does actually beg a lot of questions, even though you are using a very anomalous year to say the least. Their statutory profit differs from their adjusted operating profit due to 2.7bn worth of intangible charges?pic.twitter.com/3kvpSZrD5E

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George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @georgenturner @MForstater and

So we have a company which makes a loss of over 2bn, but their management accounts show an operating profit of 600m because more than 50% of the revenue is paid out in 'intangible charges' and your response to this is - move along nothing to see here?

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George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @georgenturner @MForstater and

This is from the latest Pearson annual report. Basically the entire $2.5bn hit on intangibles was due to write downs on goodwill in North America. This is an entirely paper transaction that would have severely impacted the statutory profit in the USA.pic.twitter.com/xlbkpEYA29

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George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @georgenturner @MForstater and

And isn't this precisely the point - the management of Pearson exclude these transactions from their investment decisions and business analysis, because in their own words they do not reflect current performance.

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George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @georgenturner @MForstater and

It seems to me that if you wanted an example showing the importance of measures of real economic activity - this is it.

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Heather Self‏ @hselftax 29 Jun 2018

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Replying to @georgenturner @MForstater and

And yet...the write down of acquisition goodwill is not optional under accounting standards, and is almost certainly not tax deductible. So yes it’s complex (and you may disagree with the accounting standard) but does it indicate avoidance? No, IMO.

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George Turner‏Verified account @georgenturner 29 Jun 2018

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Replying to @hselftax @MForstater and

The interesting thing is that @MForstater has picked just one year from the Pearson report. If you went back just one year you would see much bigger tax payments in the US. Something strange happened in the US in 2016. If I was a US journalist I would be interested in diggingpic.twitter.com/bcJNuaIsTe

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Maya Forstater‏ @MForstater 29 Jun 2018

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Replying to @georgenturner @hselftax and

George. I used the only year for which data was available for the proposed IFF SDG indicator (which doesn't look at tax payment but profits, sales, staff). I wasn't trying to do something tricksy, just seeing how what it looks like w real life numbers. Because that matters

10:47 AM - 29 Jun 2018

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