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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Replying to @seamuscoffey @sorleymccaughey and
Maya Forstater Retweeted Mike Lewis
Maya Forstater added,
Mike Lewis @BakhuninIs the corporate income tax in decline? I got thinking about this from@mforstater, critiquing an@IMFnews blog about tax avoidance and falling CIT rates. Maya’s quite right, of course, that rates can’t tell you about revenues. But are CIT revenues rising in general? (1/10) https://twitter.com/MForstater/status/1153654060085649409 …Show this thread1 reply 0 retweets 3 likes
Maya Forstater Retweeted Maya Forstater
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