As I intimated yesterday:
"The PAC, politicians and governments should not be surprised when the tax outcome is part of an international business’s decision on where to structure and locate activities,” said ICAS Director of Taxation Elspeth Orcharton.Source ICAS.
“It’s a truism worth repeating: legislators legislate. It is governments who create tax law, and who compete for inward investment by large international businesses, sometimes by reducing tax rates, sometimes by providing specific exemptions or reliefs from tax.
“The PAC, politicians and governments should not be surprised when the tax outcome is part of an international business’s decision on where to structure and locate activities."
Tax does have to be taxing.
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I don't jump to defend HMRC very often, but this outburst by the PAC is a blatant example of buck passing, parliament create the tax rules, HMRC are only applying them... and government are reaping what they are sowing, if they want to at least give the impression they want to do something about aggresive tax avoidance then change / simplify the tax system..but they won't to many self serving / interested politicians want to keep the status quo while bleating their hypocritical outrage over the scale of avoidance. don't expect things to change too much soon, save the odd token gesture / soundbite. If the general public could find an affordable yet legal way of dramatically cutting their tax bills they will be falling over themselves to change the law.
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