@taxbod @fcablog @martinhearson @MForstater @JeremyTaxman We're on the side of FASB! Here's a full explanation: http://ow.ly/qzuA6
@taxjustice @taxbod @fcablog @martinhearson @JeremyTaxman - have FASB ever said options should not be expenses for tax purposes?
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@MForstater@fcablog morning. Looks like I win 'who sleeps the longest?' - End of conversation
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@MForstater@fcablog before FASB came into it, you seemed to be arguing taxable profits an immutable thing, not a construct defined by govt -
@martinhearson@fcablog eh? No. But I would define ‘loophole' as something that allows intent of legislation & rules to be evaded.
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@MForstater@fcablog whereas I like a bit of democratic debate about which expenses should be allowed (and hence what 'loss making' means) -
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PS
@MForstater I looked at your blog, still looking forward to that post with some constructive thoughts on taxThanks. Twitter will use this to make your timeline better. UndoUndo
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@MForstater@fcablog you seemed to be saying 'companies making a loss as per current definiton, so definition shd say they're loss-making'Thanks. Twitter will use this to make your timeline better. UndoUndo
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