"force all companies operating in the UK to list how much tax they would pay if they simply subtracted UK-based expenses from UK-earned revenues"
https://www.ft.com/content/4f9843f2-c565-11e7-a1d2-6786f39ef675 …
I'm sure easier said than done but nice thing to add to @OECDtax CBCR requirements?
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Replying to @CarterPaddy @OECDtax
It's a great article, but "no profit shifting included" is doing a lot of work. If we could magically identify & exclude profit-shifting then we'd tax on that basis, not just report on that basis.
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Replying to @DanNeidle @OECDtax
But can we easily identify all deductables due to overseas related parties? i.e. UK cost base.
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Replying to @CarterPaddy @OECDtax
Then the actual profit-shifting will be hidden in the noise of correctly priced intra-group arrangements.
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Vince Cable’s picked this up! (Today in parliament)pic.twitter.com/iddUnMuhCC
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Pretty much plagiarism!
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Well, except the move to actually base some sort of tax in it. I thought original intention was more like a risk flag
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you're right - this takes a slightly simplistic idea and makes it completely nuts.
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Replying to @DanNeidle @CarterPaddy and
Also likely contrary to WTO rules given it discriminates against goods/services imported from abroad.
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Stealth import tariff
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