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The 'immoral' tricks used by corporate giants to avoid UK tax were laid bare yesterday.
Executives from Google, Starbucks and Amazon revealed how they base operations offshore and route profits to tax havens.
They had been summoned by MPs to explain why they contribute little or nothing to the Treasury's coffers. In a three-hour inquisition:
Google admitted funnelling profits to a company in the tax haven of Bermuda;
Starbucks said it had a deal with the Dutch government to minimise its tax bill and 'buys' coffee through Switzerland even though the beans never touch Swiss soil;
Amazon admitted basing its European operations in Luxembourg because of the low tax there;
The internet giant also claimed not to know its UK turnover.
Originally posted by doobydoll
reply to post by michael1983l
It's the fault of government that corporations are getting away with it. I say let corporations pull their business out of our country if they object to paying their fair share, we don't need them so badly. They cost our country more money to operate here than they contribute anyway, through not paying taxes, and through their employees having to claim top-up benefits to survive.
We wouldn't be much worse off without them, we'd still be broke, but they'd be plenty worse off without us.
Originally posted by Britguy
reply to post by doobydoll
Think of it this way... is Starbucks get in a huff and quit the country, there would be an immediate opening for others to step in and open small cafe's and coffee shops. The void would be filled and jobs created. We don't need them here.