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MForstater's profile
Maya Forstater
Maya Forstater
Maya Forstater
@MForstater

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Maya Forstater

@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
hiyamaya.net
Joined September 2008

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    1. Maya Forstater‏ @MForstater 29 Jun 2018
      • Report Tweet
      Replying to @iaincampbell07 @DanNeidle and

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

      1 reply 0 retweets 1 like
    2. Maya Forstater‏ @MForstater 29 Jun 2018
      • Report Tweet
      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
    3. George Turner‏Verified account @georgenturner 29 Jun 2018
      • Report Tweet
      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

      1 reply 0 retweets 0 likes
    4. George Turner‏Verified account @georgenturner 29 Jun 2018
      • Report Tweet
      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?

      1 reply 0 retweets 1 like
    5. 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

      2 replies 0 retweets 0 likes
    6. George Turner‏Verified account @georgenturner 29 Jun 2018
      • Report Tweet
      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.

      2 replies 0 retweets 1 like
    7. George Turner‏Verified account @georgenturner 29 Jun 2018
      • Report Tweet
      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.

      1 reply 1 retweet 1 like
    8. Heather Self‏ @hselftax 29 Jun 2018
      • Report Tweet
      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.

      3 replies 0 retweets 3 likes
    9. Alex Cobham‏ @alexcobham 29 Jun 2018
      • Report Tweet
      Replying to @hselftax @georgenturner and

      I think the question is not whether the writedown is legit (we surely must assume so), but whether it provides a tax reason for the apparent pattern of profit misalignment - even in this most unusual example that Maya has chosen?

      2 replies 0 retweets 0 likes
    10. Maya Forstater‏ @MForstater 29 Jun 2018
      • Report Tweet
      Replying to @alexcobham @hselftax and

      Maya Forstater Retweeted Maya Forstater

      Seriously. I 'chose' this year because that was the year there was. Write-downs, losses are ordinary things. If the formula interprets them as "illicit" then the formula may not be reliable to track illicit flows. I also looked at LUSH.https://twitter.com/MForstater/status/1012650616932454400 …

      Maya Forstater added,

      Maya Forstater @MForstater
      Replying to @DanNeidle @alexcobham and 3 others
      I've tried it with Lush. Calculation says big profit shifting/IFFs out of Brazil, Japan, Hong Kong into the UK (if I'm doing it right?) https://docs.google.com/spreadsheets/d/1J6a_fYcthaaD5MKtfyV971-foP1aVI3TcmDAy1KalNk/edit#gid=13624373 … (if I'm doing it right?) pic.twitter.com/szIPZAgLMB
      1 reply 0 retweets 1 like
      Maya Forstater‏ @MForstater 29 Jun 2018
      • Report Tweet
      Replying to @MForstater @alexcobham and

      Hi Alex, I've got a clarification question. Here you say "π𝑖 is the share of all multinationals’ gross profits declared in jurisdiction i" I don't think you mean *share*? Isn't π𝑖 the gross profits of MNCs declared in that jurisdiction?pic.twitter.com/Vj7Ro52loJ

      1:08 PM - 29 Jun 2018
      2 replies 0 retweets 0 likes
        1. New conversation
        1. Alex Cobham‏ @alexcobham 29 Jun 2018
          • Report Tweet
          Replying to @MForstater

          Thanks Maya. Not just because it's Friday night, but can I ask you to put comments/queries/criticism on the book either online in github, or in an email?

          1 reply 0 retweets 0 likes
        2. Maya Forstater‏ @MForstater 29 Jun 2018
          • Report Tweet
          Replying to @alexcobham

          Sure. This is not about the book its the IFF indicator proposal (i.e. this same as the rest of the thread). But yes, Friday 😄  Have a good weekend.pic.twitter.com/tneDa5k0QN

          0 replies 0 retweets 0 likes
          3. End of conversation
        1. George Turner‏Verified account @georgenturner 29 Jun 2018
          • Report Tweet
          Replying to @MForstater @alexcobham and

          This is exactly what twitter was made for.

          0 replies 0 retweets 3 likes
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