Facebook to pay more UK Corporation Tax

Facebook has announced it will book major UK sales in the UK, rather than Ireland – and thus pay much more UK corporation tax (than the £4,327.00 it paid in 2014!)

This looks like the first major scalp (we can hardly count Google) of Osborne’s new Profits Diversion Tax, which as a deterrent seems to be forcing a re-think from corporates.   As the BBC asks, is the tax tide beginning to turn?

http://www.bbc.co.uk/news/business-35724308

Taxwatch Update – 8 Feb 2016

Hi folks – just a brief update on one or two items if interested…

  • Dennis points out:  “On a similar theme to ‘The Town that took on the Taxman’ – there is a programme on Channel 4 on Monday 08/02/2016 @ 20:00 to 20:30 called ‘How the Rich Avoid Tax’, which some of our fellow Taxwatchers may be interested in.  I will be particularly looking out to see what they say about wealthy television people being paid through their production companies!!”

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Letter published in IOM Examiner

Below is the text of the letter from several taxwatchers published in the Isle of Man Examiner on 2 February 2016:

We stand by Cat’s ‘tax haven’ views

Cat Turner deserves credit for her appearance in ‘The Town That Took on the Taxman’, recently screened by the BBC.

The programme featured the role of a Douglas-based Corporate Service Provider in enabling Caffe Nero, a major UK coffee retail chain, to avoid paying any UK corporation tax. This was contrasted with Continue reading