International tax rules do need modernising. But the "very little" is about tax paid to market countries like France not by the companies in general. For 2018, #GAFAM made net cash payments for Corporation Tax of $26.5 billion, just under 15% of their pre-tax income. Very little?https://twitter.com/EmmanuelMacron/status/1166017513026703360 …
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Replying to @sorleymccaughey
Personal income tax and corporate income tax are different. Personal income tax is higher in almost all countries. And personal income tax is paid when post-tax corporate profits are distributed to shareholders. The effective Income Tax+USC rate on personal income is around 19%.pic.twitter.com/mnkr8DRRhd
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Replying to @seamuscoffey @sorleymccaughey
But these rates are still well below the statutory rates, are they not? And why are those companies not able to get that tax payments message across - are NGOs so successful in capturing the debate?
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Replying to @sorleymccaughey @iaincampbell07 and
Rates are only one element of the system. Changes to the base, which are much more complex and impossible to summarise on a chart, can be even more important. What has happened to revenue from corporate income tax over the three decades shown in that chart?
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Maya Forstater Retweeted Mike Lewis
Maya Forstater added,
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Replying to @MForstater @seamuscoffey and
Maya Forstater Retweeted Maya Forstater
Maya Forstater added,
Maya Forstater @MForstaterCorporate income tax rates apply to all companies. NOT just large ones, NOT just multinationals. Are the amount they are paying falling precipitously? No, because its about the base and the rate (as the IMF knows) The general LT trend on corporate income tax revenues is rising pic.twitter.com/VY9GrgRbB9Show this thread0 replies 0 retweets 3 likesThanks. Twitter will use this to make your timeline better. UndoUndo
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