Corporate tax – Level playing field

Corporate tax – Level playing field

The real issue with corporation tax is not only whether it is morally right to avoid it, but whether not paying tax gives larger corporates an unfair advantage against indigenous smaller companies.

Local high street a few years ago had independent butchers, greengrocers, electrical stores, cafes, and the like. Whereas now, many of these shops have closed down, most of the rest are run by identikit chains and the surviving small local businesses are hanging on by their teeth.  All because the SME have been paying their taxes which has crippled cash flow, and in some cases was the final nail in the coffin of a struggling business.

The news and political satire show in Australia, Undercurrent describes the mechanism of how Corporations use tax avoidance schemes.

Unfair competitive advantages gained by multinationals.

Labour Manifesto 2017:

Corporation tax???? in the UK ???????? is the lowest of any major developed economy. Our new settlement with business will ask large corporations to pay a little more while still keeping ???????? corporation ta????x among the lowest of the major developed economies. In turn, we will meet the business need for a more skilled workforce with extra corporate tax revenues while contributing to education and skills budgets.

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