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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. Robert Palmer‏ @robertnpalmer Nov 7
      • Report Tweet
      Replying to @DanNeidle @TaxJusticeUK @taxwatch

      We’re updating that section as we didn’t cite the most up-to-date report https://progressiveeconomyforum.com/events/making-the-uk-a-citadel-of-long-term-finance/ …. @KevalBharadia is your man on the details

      1 reply 0 retweets 5 likes
    2. Dan Neidle‏ @DanNeidle Nov 7
      • Report Tweet
      Replying to @robertnpalmer @TaxJusticeUK and

      Oh dear. The authors of that report derive the number by looking at the value of derivatives today. Which is nothing to do with the value of derivatives when they’re created - that value is £0.

      1 reply 0 retweets 1 like
    3. Dan Neidle‏ @DanNeidle Nov 7
      • Report Tweet
      Replying to @DanNeidle @robertnpalmer and

      So a financial transaction tax literally cannot work that way. The £4.8bn figure is junk.

      1 reply 0 retweets 0 likes
    4. Dan Neidle‏ @DanNeidle Nov 7
      • Report Tweet
      Replying to @DanNeidle @robertnpalmer and

      Who reviewed this report?

      2 replies 0 retweets 0 likes
    5. John Ralfe‏ @JohnRalfe1 Nov 7
      • Report Tweet
      Replying to @DanNeidle @robertnpalmer and

      I thought it was intended to apply as a (small) percentage of the notional value, a bit like stamp duty?

      1 reply 0 retweets 1 like
    6. Dan Neidle‏ @DanNeidle Nov 7
      • Report Tweet
      Replying to @JohnRalfe1 @robertnpalmer and

      That was the EU 2011 proposal, which was dropped ‘cause notional value is essentially meaningless economically. This report looks at market value, which has the slight disadvantage of being zero day one. It’s a bit odd.

      1 reply 0 retweets 0 likes
    7. Maya Forstater‏ @MForstater Nov 7
      • Report Tweet
      Replying to @DanNeidle @JohnRalfe1 and

      Also the 6bn from unitary taxation is based on extrapolation from what UK might gain if taxable profits on US MNEs were distributed by formula, but does not seem to take into account what the UK would lose if profits of UK MNEs were similarly distributed to other countriespic.twitter.com/VOwUyiNu24

      3 replies 0 retweets 2 likes
    8. Dan Neidle‏ @DanNeidle Nov 7
      • Report Tweet
      Replying to @MForstater @JohnRalfe1 and

      Is that right?

      2 replies 0 retweets 0 likes
    9. Maya Forstater‏ @MForstater Nov 7
      • Report Tweet
      Replying to @DanNeidle @JohnRalfe1 and

      So the 6bn figure comes from the PSI report https://pop-umbrella.s3.amazonaws.com/uploads/9dacd52a-6987-4dcb-a90c-4a1146f4a342_Taxing%20Multinationals.pdf … which references "another study" - which when you follow the footnote is Cobham, Faccio and Fitzgerald 2019 https://osf.io/preprints/socarxiv/j3p48/ … ....pic.twitter.com/dfRezkgKRJ

      1 reply 0 retweets 0 likes
    10. Maya Forstater‏ @MForstater Nov 7
      • Report Tweet
      Replying to @MForstater @DanNeidle and

      Saying "it is only based on one data source" makes it sound like a point about data quality. But the salient thing about the Cobham, Faccio & Fitzgerald study which is being skated over here is it is only based on redistributing the profits of US MNEspic.twitter.com/goZ76wjp4M

      2 replies 0 retweets 0 likes
      Maya Forstater‏ @MForstater Nov 7
      • Report Tweet
      Replying to @MForstater @DanNeidle and

      The 'IMF model' being tested is that routine profits are taxed in relation to where capital assets are, and residual profits are taxed by a formula of sales & employment.pic.twitter.com/saEVE0Nd7q

      7:10 AM - 7 Nov 2019
      1 reply 0 retweets 0 likes
        1. New conversation
        1. Alex Jacobs‏ @AlexJacobs16 Nov 7
          • Report Tweet
          Replying to @MForstater @DanNeidle and

          But these are policies for the UK. Sadly the rest of the world's out of this doc's orbit for the moment! Isn't the manifesto something to celebrate & encourage? Specific ideas to make tax more fair. Of course they're not perfectly refined: 33 policies in 13 pages. But overall?

          1 reply 0 retweets 1 like
        2. Maya Forstater‏ @MForstater Nov 7
          • Report Tweet
          Replying to @AlexJacobs16 @DanNeidle and

          Birthdays are for celebrating. Policy proposals are for testing. If they are just a brainstormed set of ideas for discussion fair enough, but its presented as a manifesto with costed proposals: sums that can be added together. Tax experts rolling their eyes not a good outcome.

          1 reply 0 retweets 0 likes
        3. 2 more replies

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