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The Clubhouse Bar
A Political Thread pt. 2
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<blockquote data-quote="Bada-Bing!" data-source="post: 1040984" data-attributes="member: 70552"><p>[URL unfurl="true"]https://www.bbc.co.uk/news/world-57368247[/URL]</p><p></p><p>Well how companies are taxed in the UK depends on where the company is resident.</p><p></p><p>A company will generally be UK tax-resident if it is incorporated in the UK or, in the case of a non-UK incorporated company, if the central management and control of its business is in the UK. </p><p></p><p>Non-UK tax-resident companies are liable to corporation tax if they trade in the UK through a 'permanent establishment'. This includes a fixed place of business for trading operations and may include some agents in the UK.</p><p></p><p>It gets more complicated with Group structures which these massive companies the likes of Amazon, Microsoft etc trade through. </p><p></p><p>Today's decision should help, but doesn't stop these companies registering one of their companies abroad or getting around the rules somehow and diverting their profits to a lower tax resident jurisdiction. Just sets a minimum in the G7 and EU. A step in the right direction as long as other G20 countries follow suit and they force the likes of Bermuda and the Cayman Islands to start charging these companies for tax.</p></blockquote><p></p>
[QUOTE="Bada-Bing!, post: 1040984, member: 70552"] [URL unfurl="true"]https://www.bbc.co.uk/news/world-57368247[/URL] Well how companies are taxed in the UK depends on where the company is resident. A company will generally be UK tax-resident if it is incorporated in the UK or, in the case of a non-UK incorporated company, if the central management and control of its business is in the UK. Non-UK tax-resident companies are liable to corporation tax if they trade in the UK through a 'permanent establishment'. This includes a fixed place of business for trading operations and may include some agents in the UK. It gets more complicated with Group structures which these massive companies the likes of Amazon, Microsoft etc trade through. Today’s decision should help, but doesn’t stop these companies registering one of their companies abroad or getting around the rules somehow and diverting their profits to a lower tax resident jurisdiction. Just sets a minimum in the G7 and EU. A step in the right direction as long as other G20 countries follow suit and they force the likes of Bermuda and the Cayman Islands to start charging these companies for tax. [/QUOTE]
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A Political Thread pt. 2
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